Be Cautious About the Quality of Your News Sources

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Filed under: Market Comentary

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Many of us are checking the news throughout the day right now. Not only do we have extra time at home, but everyone is looking for the latest updates on the current pandemic situation.

While it’s important to stay up-to-date on the latest events, everyone also needs to be careful about where they are looking for information.

Questionable Online Resources

We need to watch out for the source of information found online. I was on two Zoom calls earlier today, and it was crazy to see how many people were talking about bad resources of information out there.

It doesn’t matter if you are reading about mortgage guidelines or any news on the COVID-19 virus. News flash: social media is not a news source. In fact, most mainstream news channels aren’t even good “news” sources because the stories are slanted based on a specific message or agenda they want to share.

Always Do Your Research

Make sure you dig in and do your research. For the real estate community: I’m hearing many people talk about things that aren’t true…

• FHA is not funding
• A 700 credit score is required for financing
• Jumbo loans are dead

These myths are circulating in the industry and confusing a lot of people. Yes, some of the lenders have changed their guidelines, but that doesn’t mean these claims are true.

Look to Trusted Sources for Information

Watch where you are getting your news. Yes, it can be difficult to dig up good information, but now might be the perfect time to start looking for a 2^nd resource or opinion before believing what you find online.

Keep your eyes out. If you hear something that sounds a little wonky, then it probably is! It might be good to do a little research and talk to a trusted industry expert before making any decisions.

As always, I’m here to answer your questions if you need help in the mortgage industry. Rest assured to know that I am staying up-to-date on the latest trends. I’ll keep you updated on accurate, timely news in the industry.

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