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Randy Free

Timing is everything

Saturday, February 18, 2012 - Article by: Randy Free - Opes Advisors, A Division of Flagstar Bank - Message

Did you know the secondary market is used by almost all mortgage companies? This allows mortgage companies the liquidity to loan money time and time again. This means that almost every mortgage is priced from the same wholesale source. Also, did you know all mortgage originators are paid with a fixed level of compensation? What this means is no matter what loan program, rate, or fee structure you decide, the originator is compensated the same. So when it comes time to obtain the best price for your home loan, the timing of when to lock your rate will make all the difference to your final price.
Here at Opes Advisors, we monitor and track the secondary market with live pricing. This means we are able to see the direction and the size of any price changes to the wholesale mortgage market (the price banks pay) prior to movement in the actual retail rate (the price borrowers pay). Having this live pricing information available can save you money, a lot of money. This service is completely free when using Randy Free at Opes Advisors for your mortgage transaction. Think of it like your personal rate watch service.
Any bank or brokerage can offer a mortgage, but now that you know how mortgages are priced, who is watching the market for you? Who is looking to save you money by locking in the best possible price at the best possible time? That's what makes Opes Advisors stand above the competition.
Randy Free
Mortgage Advisor OR ML4902 | NMLS 283930

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