It’s important to recognize that advice is extremely valuable when seeking advice on a mortgage. The right advice can literally save you thousands of dollars, while the wrong advice can cost you the same. I’m talking on this subject because too often when we’re asking the wrong questions when shopping around.
I’ll be the first person to tell potential clients to do their homework on potential lenders. The important thing to consider is the types of questions you should be asking when shopping around. Here are some questions to consider asking when shopping for a loan:
1) What are mortgage rates based on?
2) What is the next economic report or even that could cause mortgage rates to move?
Professionals have these reports at their fingertips and spend their time keeping up to date on them. I am constantly reviewing upcoming reports and I even act as somewhat of a resource with my feed provided by Twitter.
3) When Ben Bernanke (Fed Chairman) decides to ‘change the rate’, what influence does it have on mortgage rates?
4) Do you have access to live, real time, mortgage bond quotes?
In the spirit of educating consumers looking for mortgages, here is this week’s answer to the 2nd question:
As always, if you have questions – please get in touch!
It’s my life goal to help more Americans obtain financial freedom, let me know how I can help you.
