Increase your business by 80 percent in eight weeks – NMP Skip to main content

Increase your business by 80 percent in eight weeks

National Mortgage Professional
Jan 27, 2005

Homeowners Report on RefinancingMortgagePress.comRefinancing, Statistics, Interest Rates, Payments Mortgage rates may be the lowest they have been in 40 years, but according to a recent survey conducted by InsightExpress, these low rates, while indeed primary, are not the only reason for homeowner refinancing. A survey of 500 homeowners revealed that more than one-third of the group is likely to refinance in the near term, although nearly half of this percentage has gone through the paperwork-intensive process at least once before. For those considering, other key deciding factors are being weighed, including the desire to lay out as little cash as possible in the process. A variety of factors were cited by survey participants as being important to their refinancing decisions: Refinancing: Reasons Considered Extremely Important Lower Interest Rate: 85 percent No-Cost/Low-Cost Closing: 72 percent Fixed-Rate Commitment: 66 percent No Point Commitment/Requirement: 61 percent Lender Reputation: 53 percent Local Presence of Loan Backer or Mortgage Company: 26 percent Many participants cited a reduction of monthly payments and consolidation of loans and debt as primary motivating factors for refinancing. However, additional concerns come into play: Refinancing: Reasons Considered Primary Reduce Monthly Payments: 54 percent Consolidate Loans and Debt: 18 percent Reduce Loan Term: 15 percent Utilize Equity for Home Improvements: 11 percent Utilize Equity to Fund Education: 2 percent When seeking refinancing information, 48 percent of all participants turned to traditional financial service institutions, 25 percent turned to Mortgage Brokers and 21 percent turned to online brokers, 17 percent used either the newspaper or an online news source for information, and a final 15 percent used an online mortgage information portal.
Published
Jan 27, 2005
Increasing Number Of Homes On The Market Longer

Redfin reports that 61.2% were listed for at least 30 days, up from 54.4% a year earlier.

Industry News
Aug 09, 2022
Connecting To Your Customers

Sports, at all levels, can be an efficient means for marketing

Sales and Marketing
Aug 01, 2022
Building Your Volume One Day At A Time

Put this five-day plan into place to increase your unit production.

Sales and Marketing
Jul 18, 2022
Navigating Rising Rates

Educate your customers so they don’t fear the ongoing changes.

Sales and Marketing
Jul 18, 2022
Don’t Put Role-Playing On Hold

Prepare your loan officers with extensive training for better sales.

Sales and Marketing
Jul 17, 2022
Rip the Band-Aid Off

5 Easy Steps to Making Hard Decisions

Sales and Marketing
Jul 06, 2022