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3 Big Things: Rates are rising and rising fast, plus CCM has incredible construction perm loans if you are looking to build!

Hey there it’s Bruce Woodburn with CrossCountry Mortgage and WDBO Radio and it’s time for the three big things you need to know. There’s a lot of things happening in the market now. So pay close attention whether you’re considering buying, selling, refinancing or you’re in the real estate business in some capacity.
  1. So first big thing you need to know just for realtors. I’ve got four tickets available for an amazing training program from a national sales trainer by the name of Tina Valiant. She’s teaching a two day seminar from 9am to 3:30pm on Monday and Tuesday of next week. I happen to have some extra tickets. I’m going to do a speaking event at this venue, but let me tell you. I’ve been to one of her two day seminars before and if you are in real estate, this is a no brainer. This is a national salesperson and I’ve got tickets available, but you have to commit to going to both days. Call me if you’re interested in that.
  2. Now, let’s talk about the big elephant in the room, rates are rising and rising fast man. I can tell you every day I come into the office, I have to look and just see what the rates are doing. I mean, I haven’t had to do that in years, but they’re constantly going up. Now, I will tell you that this week, midweek we saw a little bit of a settle down. But last week was the largest rate increase since 2013 in a one week period of time. The largest in one week! We lost like 100 and 50 basis points. That means whatever started at the beginning of the week at no point was a point and a half, almost a point in three quarters, just by the end of the week. It was crazy how much we lost and there’s no end in sight with this inflation. You see the Fed raised the Fed rate, they’re going to raise it again, they’re gonna raise it again and again and again. I’m gonna tell you something. You’ve got fixed rate 30 years in the fours now, you’ve got investors in the in the high fives and even sixes. I’ve seen, I expect that we’re going to see, interest rates easily approaching the 6% – 6.5% range probably within the near future. I wouldn’t even be surprised if we have a 7.5% interest rate by the end of the year. Now listen, I’ve got to be honest with you, those things don’t scare me. I still buy property in high rate markets because I am still experiencing a lot of appreciation. Heck, I buy a property for $400,000 right now. I’m gonna make $100,000 on it within a year. Even if I made #50,000, my investment model only accounts for 3% appreciation, not a 17-22% appreciation and you can make a lot of money just at 3% appreciation, regardless of what rates are, so don’t be afraid. But don’t wait if you’re looking at buying a home or refinancing, let’s do it now please. I hate having these conversations Especially with my new construction clients that started when rates were 2.875 and now they are 4.5 so people don’t like that, I don’t like that, but we have to live with it. That’s the economy and that’s the era that we’re in. Everything’s going up as you well know.
  3. And the third big thing you need to know is I do a lot of construction perm loans so if you don’t want to buy a production home from a production builder in a strict HOA, and you can’t even put your your jet ski in the side yard. I have a construction perm product, I do conventional loans with as little as 10% down, but this get this, I don’t know any other lender that has this, you can build on your lot or buy a lot and you can combine the lot in the construction loan on a custom or semi custom home. I can help you with that. I do FHA loans, 3.5% down, construction perm. Ever heard of that before? I’ve never heard of that before. I don’t know anybody else that has that, but I have one even better. Veterans, I can go up to a million and a half dollars with no money down on a construction perm loan. A million and a half with no money down, build your own home. Nobody’s got that, The Loan Arrangers got that.

If I can help you with your financing, please give me the opportunity. I promise I’ll exceed your expectations with service. And with rates call me, I’m always there for you. Thanks for listening to the three big things you need to know and don’t forget to tune in to my radio show on WDBO. That’s 580AM Or 107.3 HD Radio on Sundays at 11 o’clock. Have a great day.

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