The Fed rate is nearly zero-what does that mean for notary signing agents?
To put it simply… in a bad economy, interest rates go down.
lower interest rates equals more home refinancing’s… and more home refinancing’s means more loan signing appointments.
Lowering short term and long term interest rates is the government’s primary way to ensure the economy continues and strengthens through any downturn or recession.
The lending industry is one of the unique industries that the government prioritizes and is first to be strengthened as the economy goes down.
Because the cheaper money is to borrow, short term or long term, the more people spend thus driving the economy upward.
The lower mortgage interest rates are, the more people will refinance their homes, lowering their payments and giving them extra cash to spend.
The last time the Federal Reserve took this similar approach was in the Great Recession in 2008… the following year, home loan originations rose nearly 30%…over 2 million more home loans were funded!
It could get really busy for loan signing agents across America!
To learn how to be part of an industry that thrives in a down economy click the link below!
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