Writing an article on Experience.com is equivalent to the song lyrics (Comfortably Numb - Pink Floyd) "is there anybody in there?...just nod if you can hear me...is there anyone home?"
And no, AI doesn't generate any of my Voce content - it's straight from my high school degree noggin'. (not so) Fun Fact: I was "enrolled" at California State University @ Fresno, but my first year was spent perfecting my Texas Hold 'em skills and taking money from the other dorm students. After my first semester of college, I was infamously voted AP Captain (academic probation) by the other dormies. 😟
"C's get degrees!" Not me, unfortunately....and yes, my adult kids know this story!
I digress.
@ChadWagner (Experience.com) reads some of my articles and he is the winner (of nothing) by answering the "tease" question of my last article: "What was their #2 concern?"
Part 1 of this article, I made a case that interest rates are NOT the borrower's primary concern when purchasing a home.
In my opinion, and a billionaire's small survey of regular folks, the 2nd most important concern of borrowers is their monthly payment (PITI). "Yeah, Andre, we know that! You're conflating your 1st article and this article and treating them as if they're different concerns." OK, Einstein. (btw, why do we use 'Einstein' as a perjorative when referring to a dummy?)
Interest rates are important because it's what many of our borrowers hear all day long from Bloomberg, CNBC, FOMC, MSM, et al.
However, liquidity (the mortgage auto-payment from a borrower's checking account) resonates the loudest with your borrower, not an .125 of a point. There are "Dave Ramsey" borrowers who will look at the 30-year ammoritization schedule and say, "See, I'm saving $xx,xxx in interest payments over 30 years because of that eighth of a point!" Fair enough. Point conceded.
However, most of our borrowers buy "you"...not the interest rate!
Recap:
Concern #1: Cash To Close (money-out-of-pocket)
Concern #2: Monthly Payment (money-out-of-pocket)
Concern #3: @ChadWagner you got a guess?
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