My closest friends have told me that I have chilled over the years, and that my college nickname of ‘wiggie’ might no longer apply. However, lately, the feeling has resurfaced. Today, I attended a training for the Jan 1 changes that will take effect in our industry regarding the good faith estimate. Lenders and Title agents have new forms, new rules, new deadlines, which boils down to one thing: CHANGE. It will be cumbersome, unfamiliar and take time to retrain staff, clients, realtors, and title agents. We will get through it, that is for sure. Yet another reason that I advise my realtor friends (such as yourself) to know and love your lenders (like me!). We will hold your hand, coach your clients, and be sure that every detail is uncovered to a tee, and assure the transaction closes on time.
RATES have been low! It is hard to pinpoint one reason why. Who can keep up? Could it be that the media is so consumed with Tiger that they don’t blast economic news for traders to overreact? Or is it our plight in Afghanistan? Or that Goldman Sachs will not pay bonuses (cash) this year, but replace them with stock, a sign that the industry is regulating. Or that the FED will keep rates low for the near future? There is so much news in one week, it is hard to say. What I do tell clients, is that change is inevitable. Rates are low, prices are reasonable, and the time is right. Take the low rates for what they are, and Let’s go!
I’ll be finishing my shopping this weekend, hard to believe its almost Christmas! Whatever you will be doing, stay warm, and relax. You deserve it!
