Leadpile’s Blog

I am not sure how you could have missed what is going on with the economy, however each day there is new news. The latest news involves the government bailing out IAG Insurance Company with a 85 billion dollar loan. Last week the government was bailing out Fannie May and Freddie Mac. We are in a position of having to have our government save these mega giants. These bailouts show what kind of situation we are in now, but what could happen next?
The unfortunate side of this is that none of this has caused any major “positive” changes with our housing crisis. However, the Freddie Mac and Fannie Mae bailout has allowed rates to go down and maybe have a few more people go out and get a new mortgage loan. The latest news is the possibility of changes with Washington Mutual. Hurricanes, takeovers, bailouts, high gas prices, loss of jobs, foreclosures… is there something good going out there? There has to be! Let’s find the positive.
No matter what happens with the economy, Leadpile Lead Exchange will be right there trying to connect consumers needing services with advertisers that can provide that service to them.

Thirty-year, fixed-rate mortgages edged up to 6.09 percent from 6.08 percent last week, Freddie Mac reported in its nationwide survey. It was the highest mark for 30-year mortgages since the rates hit 6.13 percent the week of March 16. The survey also showed that other types of mortgage rates declined. Rates on 15-year, fixed-rate mortgages dipped to 5.65 percent from 5.66 percent. The five-year, adjustable-rate mortgage fell to 5.51 percent from 5.62 percent. The rate on a one-year, adjustable-rate mortgage fell to 5.06 percent from 5.22 percent.

What does this mean to buyers of Mortgage Leads? Simply put, it looks like the supply will be going down in the short term. Only those mortgage Companies with excellent “sales cycles” will be able to monetize Internet lead sin a meaningful way!

Mortgage Companies…Get you closers on the line! They need to close better than ever!