You Get What you Pay for… Always

Mark’s Market Update – 5/19/2022

Well – quick synopsis – rates have decreased a little bit because of the stock market. Earnings misses have happened with big companies – and it’s roiled the market a bit. This will recover, and right now, the stock market is on sale (always buy on the dip). It is currently running about 5.625% to 5.75% for normal 30-year fixed-rate mortgages (subject to loan to value, credit score, occupancy adjustments, of course).

Free Credit report? Not a good deal…here’s why.  

My father once told me “Buy the best you can afford”. I have always taken that lesson to heart. When I wanted to be a photographer back in high school and college – I couldn’t afford Nikon – but Pentax and Olympus – meh. So, I bought the best I could afford – Canon. 

I’ve followed this rule for decades.  

That “Free” credit report – or the “free credit monitoring” offered by your bank…falls under the same category. If it’s free, it ain’t worth anything. There are only two free things in life: Air, and advice. And advice, if it’s free, usually isn’t worth anything. Same with free credit reports or credit monitoring. 

Watch my video to learn more as to why this is – and what you can do to protect yourself, and your clients, from the problem of getting something that’s free.