Posted by COpink on 6/21/13 4:47pm
Msg #474261

Bankrate is saying 4.23...

Slowest month to date. Barely made enough to cover my bills and I don't even pay rent. Says a lot. I started applying for full time jobs today.

With interest rates like that, I don't expect to be getting calls as frequently as we were.

Didn't the Fed decide not to raise the interest rates?

Reply by Luckydog on 6/21/13 5:01pm
Msg #474265

S. Florida has been busy. I am almost 10 over this time last month.

Reply by COpink on 6/21/13 5:05pm
Msg #474268

Wow! That's so awesome!

Reply by ME/NJ on 6/21/13 5:34pm
Msg #474273

Banks feel job growth, new home sales and other economic indicators have risen to a point that they feel the need to raise the rates from the all time low. Today 30yr 3.95 down just a little from the other day. Unless they push the HARP deals it will kill a lot of our business. This week last month I was on fire, with it being EOM and 1/4 end.. It's slow I have 7 lined up for next week and only one on EOM.

If you're board line staying a float, better look for a back up quick. Won't take long to sink you.

Reply by COpink on 6/21/13 5:39pm
Msg #474275

Thank goodness I have a savings account while I do try to find something. Was on the computer all afternoon applying for jobs and a staffing agency already called to set up an interview for next week.

I knew the busy couldn't keep up forever even though my dad said otherwise.

Reply by droman_IL on 6/22/13 12:03am
Msg #474313

Been busy as ever in Illinois- had to turn down closings! n/m

Reply by Paula Yakey on 6/22/13 6:51am
Msg #474317

Re: Calm Down!

I know all the news is that rates are going up. But that is not a bad thing...they will come down again. I have been in this industry for 22 years 21 as a mortgage broker and 10 as a signing agent. These lenders were overcome with applications with the HARP and got backlogged. They will arbitrarily raise rates to slow down productions. They have to do this because the lenders will be overstated on their liabilities so they have to get the loans sold in order to continue to make loans. So don't panic I have seen this too many times. The sky is falling, the sky is falling! No it isn't. Don't stop marketing cause this is the time you can get some other TC that maybe you did not have before. A year ago the rates were a 4.5% and I am as busy now as I was then. When I started this career the rates had just dropped from double digits to 9.5%. It was so busy that I worked from 8:00 am to 12:00 pm for months. One of my bosses once told me to learn to ride the wave. The revival of the real estate market is the only thing that will get this economy back on track and if the powers that be don't see that then maybe the sky is falling...but I am not going to ascribe to that!

Reply by 101livescan on 6/22/13 12:24pm
Msg #474334

Re: Calm Down!

Thank you, the voice of sanity. Those of us who have been in this business at least this long, have watched the tides ebb and subside. Lots of buying going on right now. Most of my deals are purchases and fixed libor loans at extremely low rates.