Given the magic of the "forever rates" that millions of borrowers locked, we probably won't have such a favorable refi market for a while.
Hello, LOs!
Oh no! The refi window sure looks to be closing. And fast!
Surely you heard that the 10-year Treasury reached 1.6% yesterday, the first time that's happened since February of 2020. Though it's a promising sign that the broader economy is rebounding, it's pretty bad news for many LOs, as my colleague Alex Roha recently detailed in this HW+ piece.
LOs, here's my question to you: What are you doing to get borrowers to lock in now before rates climb any higher? Has there been a mad scramble of late? Given the magic of the "forever rates" that millions of borrowers locked this year, we probably won't have such a favorable refi market for a while.
So how are you preparing to transition to doing more purchase business? What do your interactions with real estate agents look like lately? As always, hit me up anonymously at jkleimann@housingwire.com.
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