December 16, 2017

Seattle Real Estate Mortgage Rates Today 5/20/11 + “Tip of the Day”

Seattle Real Estate Mortgage Rates Today 5/20/11 + “Tip of the Day”: Mortgage Rates remain unchanged today with no economic data being released.  The stock market will play a major role today, any weakness in stocks may come to the benefit of mortgage rates.  Next week volatility will return with economic data and Treasury auctions in the tune of $99 Billion in 2,5 and 7 year Treasury notes.

“Tip of the Day” Why pay for an application fee to become Pre-Approved? Would you pay to test drive a new car? Of course not!  That is our exact feeling.  Thanks to a client who switched this week from a big commercial bank to our services.  She was “uncomfortable” having to pay $400 for a NON-refundable application deposit fee.  This is a fee that is not even credited to you if you close your loan with them.  Most of the large commercial banks and credit unions now have this fee.  For what?  This has always been a free service which allows us as the mortgage professional to earn your trust.  This fee is like an anchor, once you pay the fee are you really going to consider another lender who can save you money knowing that you will leave the fee on the table.  Plus all that they are doing is a Pre-Approval.  Hardly worth the application deposit fee.  We are confident in our services, loan programs and most importantly our ability to educate our clients empowering them to make the right decisions based upon their unique goals.  Once we have assisted our clients all the way through, closing on their loan, that is when we are able to earn our income.  Based upon education and service first.  The bank models to us have the carriage before the horse.  This reflects directly on our mission to provide education to the current and future home owners first.  This has been a business model in the service industry and will continue.  We are unwavering to charge in advance for a service that we must provide.

Timing is everything just as location of the home is critical. Timing in securing an interest rate, BEST rate, is working with a mortgage professional who has their pulse on the market and when best to advise and educate their clients when timing is right. Along with this key knowledge is to be on top of all of the lending and underwriting changes which seem to almost happen daily. We at the Mortgage Reel are Licensed Washington Loan Originators, serving clients with transparency, knowledge and most importantly keeping your goals in mind. How can we assist you today?

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