This is the best Rates in Motion episode ever!

Hey, I know that mortgages are boring and confusing, so today I offer some advice on what you need to tell your loan officer when shopping for a mortgage.  I hope it helps.  Let me know if you have any questions about the industry, carrier pigeons, or any other crazy stuff we talk about today.

For all the viewers that are real estate agents, the Agent Reboot conference tour just gave me 5 passes to give away to agents who ask questions using the Rates in Motion Facebook community or tweet a question to me @RatesinMotion.  You’ll get an extra entry for every “Like” your question gets on Facebook or each retweet it gets on Twitter.

Let’s get some discussion going!

Post your questions and we’ll announce the five winners at 4:00pm CT.

Also, Gary Vaynerchuk will be in my neck of the woods (Milwaukee) and I can’t wait to finally meet him.  His video blogs about wine have helped change the way people get free information (like Rates in Motion).  His energy has informed and inspired many, myself included.  His books The Thank You Economy and Crush It are great too.

There’s more in today’s video:

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(Watch it on your mobile phone or email reader here)

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Agents, looking to reboot your career and help revolutionize the real estate industry?  Check out Agent Reboot 2011 in Minneapolis!

Here are the top three things you should be telling your loan officer to make sure they are putting you in the correct mortgage.  The correct mortgage will save you a ton of money.

  1. How long you will be in your house
  2. Your financial goals
  3. How much money do you have to put down on your new home or pay down your existing loan?

You need to be smart on how you structure your loan.  Unless your loan officer is a psychic you need to tell them your goals.  Mortgages do not come in a one size fits all package.  You need the mortgage that fits you like a glove.

Mortgage Bonds are higher this morning as the Bond market prepares for a fresh round of government debt auctions and the Federal Open Market Committee meeting that begins this morning.  Today should be interesting.

I still think you should lock in the short term.

Today’s rates with NO lender fees are 4.75% on a 30 year, 4.0% on a 15 year and 3.125 % on a 5/1 ARM.  These are best rates I found today with NO lender fees.

If you’re in the Milwaukee area stop on by to say hi.  I be there listening to  Gary Vaynerchuk  and it will be a great time.  Milwaukee is fun every night, even Tuesdays.  Click here to find out where we will be.  I look forward to seeing you there.

Also, if you have a minute, please share today’s video with the world any way you like (use a carrier pigeon if you want), and let’s change the way people shop for a mortgage forever!

See you tomorrow!!

– Mike

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To ask a question, get advice, or find out what your lender is making off your loan, just post a comment with your question.

Click here to visit the community of Rates in Motion viewers on Facebook.

I love interaction!

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