This week in mortgage · start here
The line just moved.
$850,000
The cap on a normal home loan just jumped to $850K. Biggest mortgage news of the year, and it changes the math on your higher-end buyers.
What it means for your client
Under $850K is a normal loan now,
not a jumbo.
Lower rateCheaper than a jumbo
Less downSmaller down payment
Easier yesSimpler to qualify
Who this unlocks
Your call list is already written.
Every buyer you lost or scared off near that price, the ones pushed into a jumbo, the ones who walked because the payment didn't work. The math just changed for them.
Rates, in plain English
Around 7.2%, and finally ticking down
Here's the line that makes you look smart:
The Fed's rate is not your mortgage rate.
The Fed's rate is your credit card and car loan. Your mortgage follows inflation. So when the Fed raises rates to fight inflation, mortgages can actually go down.
Now use it
How to coach it this week
Coach the paymentNot the rate. A buydown moves them off the fence.
Re-open the topUse the $850K news to reconnect near-jumbo buyers.
Feed your databaseReggie's Fall guides, custom, English or Spanish.
Go do it
Your one move today
Call one buyer or past client near $850K
and tell them the line just moved.