Come Together: Leadership is What We Need

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Filed under: Market Comentary

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I do this video every week – and it’s amazing how much things have changed since last Wednesday. So many businesses are closing and a lot is going on around the world.

A few days ago, Walter Neil (the owner of Franklin Loan Center) put out a video for all of the employees here. He said something that is so true: we all have to come together and be leaders right now.

It would be so easy to fall into a pattern of fear and worry in our current circumstances. Yes, there are plenty of things to be fearful of, but what we really need is leadership and people who are objective about what is going on. Everyone needs to be following the rules and being careful in their daily lives.

I love Franklin Loan Center for this reason: the leadership starts at the top and flows down through the rest of the organization.

Market Updates

On Sunday, the Fed dropped the rates to 0%. Of course, I’ve had a bunch of phone calls from people wondering how it affected mortgage rates. This announcement doesn’t mean that mortgage rates went to zero as well – remember that mortgage rates are different than the Fed rates.

That being said, the mortgage market does react to these Fed announcements, and rates are looking good right now. Business is still open and a lot of people are benefiting from the lower rates through refi’s. The rates have definitely come down, although they continue to jump all over the place. A lot of people are taking advantage of this opportunity by locking in lower interest rates.

What You Can Do Right Now

What it all comes down to is how we are treating each other: take care of other people, be nice, and look for ways to show positive leadership. We’re all in this together – let’s use this as a way to come together.

As always, I’m happy to answer your mortgage questions if you need assistance. Feel free to reach out to me at any time.

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