Last week was quite a week for mortgage rates. On the heals of climbing consumer confidence and an “all-clear,” “our economy is recovering” statement from President Obama the equities markets surged and the yield on long-term mortgage bonds shot through the roof.
So, what does that mean? Your mortgage customers are all going to be paying higher mortgage rates very soon–a lot higher mortgage rates!
Market Rising Mortgage Rates
This is a perfect time to increase your marketing and touch all of those consumers that have been sitting on the fence. Waiting for the lowest mortgage rates have come and gone. It is time to get a mortgage rate that is still reasonable. You need to get this message to as many of your mortgage and client pipeline as possible. It may even be a great time to add to your lead buying to capture the opportunity to help more customers.
Here are a couple of immediate adjustments you should make to your mortgage marketing:
Change Your Email Messaging
Email should be one the central components of your marketing. However, the recent reversal in the mortgage rates market has probably invalidated most of those marketing messages. Take this week and carefully review your email messages and autoresponders to ensure they speak intelligently to the current mortgage rate environment.
Show Them the Facts
There is no better time to do a few blog posts or develop an eBook that walks your customers through the changes. Lay out the current shift in the mortgage rates. Explaining, in plain english, the current sense of urgency can add value and trigger your prospective customers to respond.