There has been a record $1.1 trillion in first lien originations in the second quarter of 2020 alone. These record breaking numbers have tested mortgage professional’s capacities in ways they haven’t seen before, but Read more
Financial markets have had their fair share of shakeups this year, causing the Federal Reserve to slash interest rates to the lowest in history.
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
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.
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
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 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.
The success or failure of a direct mail marketing campaign depends on several components. To start, if you are not sending the right message to the right people, you could be wasting your marketing dollars. You must have a fresh, well-targeted database of potential customers to match your ideal message in order for a mortgage marketing campaign to work.
In the digital age many wonder why send traditional mail when we have a plethora of digital resources at our fingertips? Direct mail marketing may feel outdated, but it outperforms all digital channels combined by nearly 600% and nearly 77% of consumers state they sort through their physical mail as soon as it is received.
Those stats alone should be convincing, but if not, read on:
When most of us think of the Millennial Generation, we picture digitally obsessed young adults who are glued to their screens. Most marketers would think the best way to advertise to this generation is via social media and digital inboxes. However, when it comes to marketing to Millennials, targeted marketing using printed postal mail is the way to go!