June 17th, 2011 11:48 AM by Eric Fang
Even though the rate is at the lowest level in 2011,for fixed program, it's still not at the level everyone expected.
For most of the questions I got recently,1)Can I get 4.375% for high-balance 30 yr fixed?My answer is no, unless the stock market is downanother 500 or more points.
2)Can I get 15 yr fixed 3.5% to 3.625%? We need tobe patient for those rates.
I am very patiently on those rates since my clients (most of them) have good rates. They can either waitfor better rates, or very comfortable at the currentlevel.
I am still thinking about "linchpin" issue. How can we become indispenable?
First, we want to be different. If I am not different,then it will be easily replaced.
I was an Oracle DBA for about 10 years. I was a general DBA, doing the routine backup/recovery, maintenance stuff.Then I focused the performance tuning. At least I wasa little bit different. Then I "added" some skills to code java files to support multiple vendors(oher than Oracle).Job was a little bit secure nad paid a little bit better.
And then I changed my career(totally changed) as a mortgage originator(I called myself as an originator,not an agent). Though my clients told me that there weretons of loan originators(I heard that there is one of every10 people have the license), I want to be different.
And so I am. I want to be the expert on the mortgage industry. I want to have a blog to share with lots ofpeople, and I want to have my way of doing loans so thatyou guys have a different experience.
Sometimes, my rate trend analysis did help my clients toget the best rate and have a peaceful mind of doingpurchase or refinance. I hope I can do better in the future.
And I am a little bit different and "linchpin", is not?
TGIF and Happy Fathers Day.