Financial markets have had their fair share of shakeups this year, causing the Federal Reserve to slash interest rates to the lowest in history.
Rates at 50 year lows – The time to increase marketing efforts is NOW
For the first time since 1971, rates have dipped below 3%. The 30-year fixed-rate mortgage averaged 2.98% for the week ending July 16, down five basis points from the previous week, according to Freddie Mac. And the 15-year fixed-rate mortgage dropped three basis points to an average of 2.51%. Read more
Take Advantage of the Record Number of Homeowners Refinancing
Mortgage rates recently plummeted to another all-time low, convincing many to refinance their homes. These rock-bottom rates have caused the average close time to increase exponentially due to the massive influx in applications. With many companies now exclusively working from home, getting ahold of applicants’ employers or HR departments has become a challenge. This delay in approval is giving Loan Officers nationwide a unique opportunity to reach these refi-ready homeowners with a better offer. With lower interest rates, fewer fees, and possibly different repayment terms, the homeowner can start saving money immediately.
Don’t stop marketing efforts during COVID-19
Recent dramatic drops in marketing mail have created an opportunity for B2C marketers to provide top-tier offers to past, present and potential customers. With numerous events, schools and business’s canceled or closed, there is increasingly less mail being sent to consumers. Mortgage professionals may now send offers that won’t get lost in the usual stack of bills, advertisements and local coupons.
Top 5 Tips for Direct Mail
We recently asked our top strategy and account managers, “What are the most important guidelines for success you give your clients when they are active in an inbound lead campaign?”.
Here are the 5 top tips from Camber’s expert team to keep your direct mail campaigns as successful as possible so you can focus on closing more loans than ever!
With COVID-19 it’s important NOW more than ever before to continue marketing and generating qualified leads
Mortgage companies and loan officers have the unique opportunity to help ease financial concerns for millions of Americans. People are turning to the equity in their homes now more than ever to help navigate their financial future in this time of uncertainty. Refinancing a mortgage not only locks in a low rate and helps save on the monthly payment, but even more importantly for many right now it provides the opportunity to tap into their equity and get much needed cash. This can offer homeowners tremendous financial relief amid great economic uncertainty.
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Navigating Uncharted Waters: The Mortgage Industry and Covid-19
We’ve recently seen unprecedented market volatility within the Mortgage Industry. All this while Mortgage Professionals watched the market bottom out, inflate, and bottom out again. People weren’t sure where they would be working from, let alone how to set pricing. Read more
Customer Retention in a Refi-Ready Atmosphere
With mortgage rates plummeting so quickly, millions of homeowners could benefit from refinancing their home. The average rate on the 30-year fixed mortgage fell to a record low of 3.29%, Freddie Mac reported this week. That’s down from the previous low of 3.31% in November 2012, in the wake of the financial crisis.
How to Build Your Loan and Realtor Pipeline
When rates tick upwards, purchase business remains consistent. One of the easiest, most profitable ways to build your mortgage business is through direct mail marketing. Direct mail offers the opportunity to build your loan pipeline and your realtor referral base at the same time.
Direct Mail Campaigns
Direct marketing has long been a successful tool in a marketer’s belt. In today’s technical world, many people may still wonder, “Why send direct mail when you have the advantage of online advertising, social media, and other avenues?” While these marketing strategies work for many industries, things tend to work differently in the mortgage industry. The benefits of adding a direct mail component to a company’s advertising budget can help take business to the next level.