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Fighting For the Mortgage Lead Scraps
from: Mortage & Debt FactsIf your business is relying on quality customers who are looking for mortgages, a dependable mortgage lead for your business, then you might want to look for companies that specialize in find them.
There are many professionals out there looking for a good mortgage lead because bad ones cost them money. A realtor, for instance, may spend a lot of time looking at homes with a potential client only to find out after all that they did not even qualify for a mortgage. This is a huge drain of time and money for them.
But, they aren’t the only ones looking for a decent mortgage lead.
If you are a mortgage broker, a good mortgage lead is your bread and butter right now. With fewer people in the market to buy and those that are being scrutinized more by lenders, you need quality referrals to be able to close and make your profit. If you find someone who can steer a good mortgage lead your way, they are worth their weight in gold because competition for good customers is fierce in the real estate market right now.
Despite the bad rap investors have gotten for the subprime fallout, there are still many investors out there buying up homes. These might be people waiting for the market to turn around and make a profit later, or those that buy foreclosed homes and resell them. Either way, they will also need to find buyers eventually and they also don’t want to waste time with poor mortgage leads.
Generating a good mortgage lead is becoming even more important for areas of the market that have to compete for customers. Strategies for developing a database of potential leads vary and some simply choose to call in a third party who specializes in this area.
Realtors may be pushing clients to prequalify. Mortgage brokers that are able to generate a larger and more reliable customer base will survive the layoffs that are going across the board in this industry.
Lenders are trying to work with old clients to help refinance loans and keep business, rather than take on another house that is foreclosed upon. This is certainly tough times for this industry and those that can network best with potential, credible, clients who qualify for a loan are going to survive the tough economic client that is present today.
Those that don’t have the skills or the patience necessary to unearth the gems looking for a mortgage that qualify may have to find another niche or market that can prove more profitable for them in the short-term.
Adjustable Rate Mortgage Specific links
Adjustable Rate Mortgage News
Historic Lows for Fixed Mortgage Rates Hold Steady - MarketWatch (press release)
 CBS Moneywatch | Historic Lows for Fixed Mortgage Rates Hold Steady MarketWatch (press release) 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.83 percent this week, with an average 0.6 point, unchanged from last week. A year ago, the 5-year ARM averaged 3.41 percent. 1-year Treasury-indexed ARM averaged 2.75 percent this ... Freddie Mac: US Mortgage Rates Little Changed Over Past Week Fixed mortgage rates hover at record lows 30-year mortgage rate hits fourth straight record low |
LendingTree Analysis Indicates Greater Savings with Adjustable-Rate Mortgages ... - MarketWatch (press release)
LendingTree Analysis Indicates Greater Savings with Adjustable-Rate Mortgages ... MarketWatch (press release) With Adjustable Rate Mortgages (ARM) representing only about 7% of new loan originations in the market, many consumers are seemingly unaware that these adjustable rate loans are worth a second look. As refinance volume has increased year over year, ... |
Refinance Applications Increase in U.S. for Third Consecutive Week, Driven by ... - World Property Channel
 World News Resource | Refinance Applications Increase in U.S. for Third Consecutive Week, Driven by ... World Property Channel The refinance share of mortgage activity increased to 76.6 percent of total applications from 74.9 percent the previous week. This is the highest refinance share since March 2, 2012. The adjustable-rate mortgage (ARM) share of activity decreased to 5.0 ... HSH.com Weekly Mortgage Rates Radar: Fixed Mortgage Rates at New Record Low Again Look Before You Leap Into Jumbo ARMs Current Mortgage Rates: SunTrust, TD Bank and US Bank Home Purchase Rates for ... |
Mortgage rates fall again, new record lows established - e-wisdom.com
 e-wisdom.com | Mortgage rates fall again, new record lows established e-wisdom.com “The European debt crisis overshadowed improving economic indicators for the US and allowed Treasury bond yields and fixed mortgage rates to ease for another week,” he said in a statement. Adjustable-rate mortgages (ARMs) experienced the reverse trend ... Mortgage rates at record lows as 30-yr at 3.79% Rate on 30-year mortgage falls to record 3.79 percent Fixed mortgage costs sink to record low |
Fixed Mortgage Rates Hit Record Lows Again - MarketWatch (press release)
 USA TODAY | Fixed Mortgage Rates Hit Record Lows Again MarketWatch (press release) 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.83 percent this week, with an average 0.6 point, up from last week when it averaged 2.81 percent. A year ago, the 5-year ARM averaged 3.48 percent. 1-year Treasury-indexed ARM ... HSH.com Weekly Mortgage Rates Radar: Renewed Eurozone Worries Drive Mortgage ... Freddie Mac: Fixed Mortgage Rates Hit Record Lows For 3rd Straight Week Mortgage rates fall to another record low |