Completing the second 90-day cycle strong!
The second 90-day cycle is a little less defined because the actual beginning and end of this cycle revolves around the end of one school year and the beginning of the next. For some, the new school year has already begun, but for others, it may still be a few weeks away. If you have planned out your calendar, you are already very clear on how much time you must transition from one to the other. The key to all of this and setting up the third and last cycle is finishing the second 90-day cycle strong, so you can maximize your opportunities and generate serious momentum heading into the end of the year. Setting your schedule and plugging in specific days and times to do the work is a critical component. People that fail to schedule often fall victim to procrastination and missed opportunities that they never really notice until the end of the year numbers come out, and by then it’s far too late to recover. So, identify your tasks and get them firmly in your schedule!
Collecting and organizing your list of accountants is likely your untapped goldmine! Being prepared to discuss current opportunities in the mortgage area for both purchases and refinances with these accountants can pave the way to a steady stream of loan opportunities and building new and powerful relationships. We all know that September is the time that accountants are reaching out to their clients that filed tax extensions and to get that process of gathering their information to get those taxes complete by the October deadline. Remember, the power of filing in October and then again next February gives that client two years of documented income in less than six months! This could really be a strong strategy for those self-employed borrowers who may need to move or refinance in early 2025!
The BLS jobs report finally started to show the world that things are not as wonderful as they have been presenting. We have talked here at length about all the “adjustments” that come out months and years after that they tell the true story that goes unrecognized because the markets have already responded. Well, the BLS can’t hide any longer and the markets are reacting accordingly. While the initial violent reaction was positive, the bond market has given up some of those gains. As I have said before, I believe rates will go lower SLOWER than some think, and even as the FED begins to take short term rates lower, the mortgage market will remain volatile as it moves slowly toward lower mortgage rates. Questions or comments: [email protected]
