Mark’s Market Update – 11/11/2021
Mortgage rates took a hit yesterday when the CPI report (the Fed’s favorite measure of inflation) came out – and showed numbers that caught everyone off guard. Rates climbed about .125% across the board yesterday – and now 30-year conforming mortgage rates are hovering between 3.25% and 3.375%.15 year conforming rates are now at about 2.75%, and FHA/VA is about 3.25% as well.
Always be learning. I’m not sure when I learned that – or who taught it to me…but for as long as I can remember, I’ve been curious. I wanted to know how to do things, how things work and expand my knowledge base.
I’ve read a thousand books over the years. I’ve gone to a hundred seminars. I’ve probably forgotten 95% of what was taught to me or what I’ve read.
But, the important part is the remaining 5% that I learned or remembered. That’s the part that I didn’t know before and now did…or the part that I did know, but didn’t realize how important it was.
Knowledge is power. It’s like the old adage: give a man a fish, versus teach a man to fish. Knowing how to do something is more important than not knowing, but knowing the why behind it…is even better.
I’m at the CORE Summit right now in Scottsdale, AZ to learn how to be a better loan officer, a better husband, a better father, a better boss, and finally, a better leader. I’ve done this, now, seven times – and each time, I come back with things, ideas, missing pieces of my puzzle – so that I can become better at the things I need to do for those people I serve.
Always be learning. You never know when that 5% will come in handy.