Equal Opportunity Lender. HUD Registration Number 1614901672. Illinois Residential Mortgage Licensee. Indiana Loan Broker Licensee. Texas Mortgage Banker Licensee 43812. This is not a commitment to lend. Restrictions apply. All rights reserved. Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage), 364 Indian Boundary Road, Chesterton, IN 46304.
The content provided on this website is presented or compiled for your convenience by The Barath Group and is provided for informational purposes only. It does not necessarily represent the views or opinions of Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage). Neither The Barath Group nor Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information disclosed, or represents that its use would not infringe privately owned rights.
The information provided on this website should not be construed as offering legal, financial or other advice to be relied on by the reader to make or refrain from making any decision or to take any action. The investment, mortgage or financial services or strategies mentioned in and throughout this website may not be suitable for you.
Neither The Barath Group nor Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) hold themselves out as a provider of any legal, financial or other advice. Neither The Barath Group nor Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) makes any recommendations or endorsements of the views, services, strategies, products or any other material that may appear on this website, whether by The Barath Group or that which is submitted by third parties. Neither The Barath Group nor Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) intend to offer any advice regarding the nature, potential value or suitability of any security, financial product, strategy or service or mortgage strategy, product or service. The Barath Group and Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) urge you to obtain professional advice before proceeding with any investment.
The documents on this web site contain hypertext pointers to information created and maintained by other public and private organizations. Please be aware that neither The Barath Group nor Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) controls or guarantees the accuracy, relevance, timeliness, or completeness of this outside information. Further, the inclusion of pointers to particular items in hypertext is not intended to reflect their importance, nor is it intended to endorse any views expressed or products or services offered by the author of the reference or the organization operating the server on which the reference is maintained. The Barath Group and Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) disclaim all liability for the content of any third party websites.
The Barath Group and Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) make no warranties about the accuracy or completeness of any information contained on this web site. The Barath Group and Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage), including its directors, affiliates, officers, employees, agents, contractors, successors and assigns, hereby disclaim all liability for any loss, damage or other injury resulting from the use of this website, for any investment decisions made on the basis of information on this website, and for any damages or losses whatsoever, arising out of, or in any way related to, the use of this site and any other site linked to this site. Nothing on this website constitutes or is intended to constitute an offer of, or an invitation to purchase or subscribe to any security.
Equal Opportunity Lender. HUD Registration Number 1614901672. Illinois Residential Mortgage Licensee. Indiana Loan Broker Licensee. Texas Mortgage Banker Licensee 43812. This is not a commitment to lend. Restrictions apply. All rights reserved. Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage), 364 Indian Boundary Road, Chesterton, IN 46304.
The content provided on this website is presented or compiled for your convenience by The Barath Group and is provided for informational purposes only. It does not necessarily represent the views or opinions of Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage). Neither The Barath Group nor Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information disclosed, or represents that its use would not infringe privately owned rights.
The information provided on this website should not be construed as offering legal, financial or other advice to be relied on by the reader to make or refrain from making any decision or to take any action. The investment, mortgage or financial services or strategies mentioned in and throughout this website may not be suitable for you.
Neither The Barath Group nor Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) hold themselves out as a provider of any legal, financial or other advice. Neither The Barath Group nor Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) makes any recommendations or endorsements of the views, services, strategies, products or any other material that may appear on this website, whether by The Barath Group or that which is submitted by third parties. Neither The The Barath Group nor Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) intend to offer any advice regarding the nature, potential value or suitability of any security, financial product, strategy or service or mortgage strategy, product or service. The Barath Group and Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) urge you to obtain professional advice before proceeding with any investment.
The documents on this web site contain hypertext pointers to information created and maintained by other public and private organizations. Please be aware that neither The Barath Group nor Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) controls or guarantees the accuracy, relevance, timeliness, or completeness of this outside information. Further, the inclusion of pointers to particular items in hypertext is not intended to reflect their importance, nor is it intended to endorse any views expressed or products or services offered by the author of the reference or the organization operating the server on which the reference is maintained. The Barath Group and Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) disclaim all liability for the content of any third party websites.
The Barath Group and Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage) make no warranties about the accuracy or completeness of any information contained on this web site. The Barath Group and Ark-La-Tex Financial Services, LLC (d/b/a Benchmark Mortgage), including its directors, affiliates, officers, employees, agents, contractors, successors and assigns, hereby disclaim all liability for any loss, damage or other injury resulting from the use of this website, for any investment decisions made on the basis of information on this website, and for any damages or losses whatsoever, arising out of, or in any way related to, the use of this site and any other site linked to this site. Nothing on this website constitutes or is intended to constitute an offer of, or an invitation to purchase or subscribe to any security.
Perception or Reality
Similar to the message in this photo, every day is a day that I must adhere to facts and truths while demystifying urban legends and hearsay.
For several months my office has been receiving phone calls from consumers asking about 4% mortgage rates that are guaranteed by the government. During this span of time it was accepted as the new norm of consumer inquiries.
Most often times than not, the consumer had heard about the ultra low mortgage rates via a news article, radio announcement, tv commercial and/or friend of a friend.
Explaining to consumers that those rates were not obtainable for the general public was like telling a 3 year old that Christmas and Easter are religious holidays. They just didn’t get it.
Today was another great example when the mortgage bond market succumbed to the truisms that dictate financial markets over the long-term. Mortgage professionals and investors across the country saw the rapid deterioration of mortgage bond pricing that has not been seen for years.
What does that mean for the consumer?
The cost of borrowing a home loan rose by nearly 0.750% in one day!
You heard that right. Mortgage rates rose by nearly 0.750% today.
Talking about being hit be a curve ball. Although we have been alluding to this day for weeks, it was a surprise to see the pace at which the mortgage market crumbled.
Even with the facts of the day being a part of history, clients still don’t want to believe that today’s activity has crippled there chance of a 4% mortgage rate.
If perception is reality and reality is perception, how do you know the proper way to view the photo? Who do you turn to get clarity on your perception of reality?
Filed under: Commentary | Tagged: Perception, Reality | Comments Off