What are we seeing from the spring market so far? How are mortgage rates affecting buyers and sellers?
Today I’ve invited Chris Padley of the Gateway Mortgage Group to join me for a quick chat so he can help answer these questions. Chris has been in the lending business for 16 years, and he’s one of the trusted lenders we work with here in the Tulsa area.
According to him, what we’re seeing from the market right now can be described as the normal springtime explosion.
“Every single week is a new rush of pre-qualifications and contracts,” he says. “Every year it’s exciting, and I’m loving it.”
The ups and downs of the real estate business can get crazy, so for Chris, staying positive when things get really busy means sticking to the systems he’s put in place—his scripts, daily phone calls, etc. He knows that letting the day in, day out craziness change his routine can cause everything else to fall apart. Every day, he’s on the phone and lead generating with potential clients and Realtors, and each day has its own theme.
“Mondays are my top 40, Tuesdays are my Tuesday update calls, Wednesday I’m following up with anybody who’s pre-qualified to make sure they’re taken care of, and Thursdays and Fridays I’m following up with miscellaneous—builders, leads that haven’t applied yet, and whatnot. Every single day, there’s work to be done.”
What are mortgage rates like right now? Chris says that they’re, in a word, awesome. In fact, the 30-year fixed rate is as low as 4.125%. This means if you’re a buyer and you’ve been on the fence the past few months, now’s a great time to take advantage of these conditions. We don’t know what’s going to happen in the future, but we do know that you can lock in a low rate right now. Since so many buyers will be getting into the market, now is also a great time to sell.
If you’d like to get pre-qualified and start your home buying journey or you have any mortgage questions for Chris, you can message him at his website ThePadleyTeam.com.
If you have any other real estate questions for me, feel free to give me a call. I’d love to speak with you!