All Forum Posts by: Catherine Emert

I am not convinced we will see much of a change as applications for refi and new loans are still high. 

This doesn't mean anything for investors at this time. Mortgage rates are not going to necessarily follow the fed rate of 0%. Mortgage rates are determined more by the number of applications - refi's and new loans - There are several articles out there that explain this. Additionally, I would recommend talking with your lender, they will be more than happy to explain how it all works.

I would talk with your lender. From my understanding this is not yet effecting mortgage rates and realtors should not be spreading this misleading information in my honest opinion.

From my understanding it may not bring interest rates down for mortgages. It's a trickle down effect and you may never see a change...but you could. Just talk with your lender and they can give you the most accurate information.

From my understanding this doesn't effect mortgage rates as of right now. All my lender friends are saying they are getting hundreds of calls because of the announcement. 

It certainly will - just gotta ride it out and stay positive. Help each other and be kind.

@Aaron Morrow we purchased the matterport last year and it's been an amazing asset to our company...now I think it will be ever more so!

I am trying to draft some information now for marketing (without the panic) to see if it helps people understand that we are here to help and we can hopefully keep going. Good news is that I am such a planner and have always built my company to withstand slow times so even if I have to slow down I am ready and prepared for it. 

So far we haven't had anyone back out for express fears in buying or selling. I think we may have a few that will hold off until more is known though. We have taken a proactive approach and are doing meetings via Zoom, we also have a matterport scanner so we will be able to scan listings and homes that a buyer may want to purchase if they are afraid to tour it in person. We want to make sure everyone is comfortable.

We were just locked down yesterday on large gatherings here in Oregon, schools will be cancelled for the next 2 weeks. We have done our best, be we are also ready for a slow 6 months if that were to happen. 

I think that there are specific forms for each state as there are different requirements for timeframes. Did you draft a contract for the purchase?

I think this largely depends on where you are. We have a lockdown on large gatherings and after talking with my escrow team last night they will continue to work with everyone to get the deals closed.