This video, presented Dave King of Mortgage Sales Manager, covers the topic of how to predict interest rates. He begins by noting that this is an oft-discussed topic in the mortgage business. Customers want to know what rates are going to do as they want to get the best rates possible. However, it’s impossible to predict whether interest rates will go higher or lower. If you try to predict what will happen, this benefits no one. Dave goes on to note that when his customers ask him about his opinions on the state of interest rates, he lets them know that while he’s familiar with all the different working pieces that are involved, a lot of times the more you know reveals all the things you don’t know. While customers discuss what the Fed will do with interest rates, these changes are already in the works and they can be determined by looking at the Fed funds futures. But it’s very important to let your customers know that no one knows what will happen with interest rates in the future. The one thing that we do know, though, is interest rates tend to go up much faster than they go down. With that in mind, it’s crucial for customers to lock in their interest rates to avoid any increases.
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