Should You Be Worried About Rising Interest Rates?
By Jim Pate
I can sense some anxiety our employees who are new to the industry when news spreads about interest rates rising. “What happens? Is everything going to slow down? Am I going to lose my job?” I’m here to tell you that I’m not worried about interest rates rising next year and you shouldn’t either. Secure One Capital is uniquely positioned to not only survive but thrive.
For one, Secure One Capital has reached a state of hyper efficiency. We’ve gotten to a Goldilocks zone where we have the perfect number of employees performing near peak productivity. We’re having months where we’re funding 5 times as many loans as we did in the past, with 8 fewer people! Our employees as a whole and as individuals are stronger and more capable than most.
Secure One Capital is not a small player or a large behemoth in the mortgage arena, we’re strategically positioned in the middle. Unlike the larger companies with a complex bureaucracy, we have the agility to pivot and adapt in a changing market. We’re a lot stronger the mom and pop mortgage shops with much more advanced technology, tools and other resources at our disposal.
We’ve thought rates were on the verge of increasing for at the least the last 18 months. We’ve been training our staff to sell benefit and building assets, like an improved proposal system that will be a valuable sales tool to set us apart, to anticipate a change in interest rates for over a year. While everyone else has been relying on their sails, we’ve been building an engine. If the market changes tomorrow, we’re ready to implement our contingency plans and continue business as usual.
Even without all of the preparation we’ve done, it is possible to thrive with the right attitude. I started in the mortgage industry at a time when rates are higher than they are now. Our jobs are not easy, but there is a lot of places where we can improve. We just haven’t had to do so. Once rates begin to rise we may have to start to tap into our potential and instead of seeing that as a reason to surrender we should recognize it for the opportunity that it is. Our goal is to continue as a team and help each other improve so we can thrive as the market changes. If you find your self struggling or have suggestions for improvement, please reach out to your manager. Together as a team we will get through this.
Secure One Capital
At Secure One Capital, our motto is “Better Rates, Better Service, a Better Mortgage Experience.” We will work with you to find the right loan program for your mortgage needs. Then we will work to secure the best interest rate available to you.
To learn more about what Secure One Capital can do for you, call today at 877-304-0764 and speak with one of our friendly mortgage bankers or you can apply online. For best results, choose the complete application.
We look forward to serving you.