1. So first of all, let’s talk a little bit about what’s going on in the bond market and interest rates right now. So here’s the thing. Every single day I come to work and interest rates are higher every single day. Now you have to remember that when bonds fall by 100 points, that means it costs the consumer one point more to buy that loan. So if you’re getting a $500,000 mortgage and you were getting a zero point loan, it’s one point for every 100 basis points that the bond-market deteriorates. Monday we lost 97 basis points in one day, the next day 47, the next day 53 and the next day 54. It just keeps getting higher and higher. We’re going to see higher interest rates, but that doesn’t scare me. I don’t have a problem with higher interest rates as long as we’re seeing houses continue to go up. But we just heard that the Fed might make seven interest rate hikes this year, seven interest rate hikes! I haven’t seen seven interest rate hikes in any one year in my entire 33 years, which I’m celebrating this Saturday on March 19. I’m going to tell you something, that is news, seven interest rate hikes in one year. That’s what they’re threatening. So the bond market is just going nuts. Now the yield on the bond is just going nuts. So you’re going to see higher interest rates expected. Now let’s put that in perspective. Let’s say you’re buying a $300,000 home and interest rates went up one full percentage point. That’s a $300,000 home, say you’re putting 3% or 5% down, that means your payment went up $325 a month. That’s what it went up for one point. Now, if that house goes up $50,000, it went up $300. So you’re talking about up to $700 a month more for the same house you can buy now. Buy it now! It’s okay that interest rates are going up, they’re gonna keep going up. Don’t expect they’re going to go down anytime soon. The Fed has no idea what to do with this, our government doesn’t even have any idea what to do with the economy right now and what’s going on overseas. But the good news is, it is a buying opportunity.
2. Second big thing you need to know, I am hosting a Homebuyer class on March the 30th. If you don’t own a home and you’re struggling with multiple offers. Let me tell you, I got a bulletproof way to eliminate contingencies for you. So we can help you become the winning offer. You think about that. If you’re not the winning offer, you’re losing out time after time after time as interest rates are going up day after day after day. Let’s get you into the house, get you locked in right away.
3. And then the third big thing you need to know is I’m going to do a youth outreach class on zoom on April the 13th at 6p.m. Now I put this class together so that it can help Children. I’m talking about 15, 17 All the way up into your 20’s, This class will help them understand how to balance a checking account? How do you open credit? How do I manage credit? Why is credit so important to me? How do I budget? I want to help your Children understand that early in life. Now you know and I know they’re not gonna listen to you, but they’ll listen to somebody else. Okay. I know that because that’s the way my kids are too. I want to help your children, free of charge, understand the importance of budgeting and building credit. So when they come out of college and they’ve been bombarded with all these credit cards, they know responsibly how to use them. Then they come out and they’ve got high credit scores coming out of college, they get their job and they become a homeowner. Did you know that homeowners that buy in their 20 have a 70% greater chance on retiring as a millionaire than those that wait. Don’t wait. Let’s help more youth, I’m into the youth thing and I want to help. I want to give back. I’ve never taught a class like this before. It’s gonna be very interactive. But if you are a teacher, if you are a pastor or a deacon, a priest, you know young kids that need this help that have not had that guidance, send them over to me. I’m going to give them some guidance from the heart.

Thank you for listening to the three big things you need to know, Bruce Woodburn with CrossCountry Mortgage, The Loan Arranger and WDBO Radio, here to serve you and your family’s needs. God bless each and every one of you. And I look forward to seeing you in my up and coming classes. Lock fast, because Interest rates are not going to slow down anytime soon.