“I want to read you something my wife said: “Buying now with seven-and-a-half rates leads to three options in the future. One: Rates will go down in a few years and you refi to a lower rate. Two: Rates stay the same. No harm, no foul. Three: Rates keep rising and you’re glad you locked in at a 7% rate.”
Win, draw. Win. Marry the property. Date the rate. Now, that was a meme, she said, because I’m pretty sure she’s trying to talk me into buying a house. But my point is, this is an investor who is spending money to buy houses and is rationalizing in their head why seven-and-a-half percent rates are okay. You guys, me included, do not build a narrative for your customers.
You will be surprised by how many people are more in love with a house than a rate. Think about that. Remember that and know that because none of your social media said that today. Get the message out there.”
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