The other lender had a lower rate

Those are the words I have heard my whole career in this mortgage industry. They are words sent to me saying they have gone with the other lender. But the irony is, most times the other lender does not have a lower rate but a more recent estimate. See the image below – it shows the Bond market activity for the last quarter – and since historically mortgage rates move with the bond market – you can see that almost each day the mortgage rates have moved – up and down.

I guess the only way for me to not hear those words again is to “stalk” the customer but as most of you know – that is very far from my approach now. Thoughts on this topic, do you want a stalker lender?

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