Well, Mortgage Rates Report hit a milestone; we had more than 2000 visitors each and every day this week. I've had some days where we've reached that mark but this is the first time we've held that sort of traffic. I suppose I have the wacky gyrations of the mortgage-backed securities market to thank for all the new visitors. With that traffic came a LOT of loan applications; I'm grateful for the confidence y'all place in our team.
I think we're okay at these rate levels to delay locks through Monday so if you're holding your breath, relax and enjoy the weekend. Now...for something completely different
Let's talk about transparency in the real estate brokerage market. I ran an idea up the flagpole on Bloodhound Blog; disclose ALL offers, rejected and accepted, to any buyer, so that they can see the size of the market for a property. Naturally, the 6% crowd gets REALLY testy when they think you're messing with their business model. They do NOT like any change whatsoever; just look at the comments thread on Active Rain and on BloodhoundBlog. The folks on BloodhoundBlog tend to be more consumer-centric and confident in their value so they tend to welcome an alternative marketplace to the MLS.
Melina Thompson, a real estate agent in Oregon, wrote a good summary, requesting feedback from consumers. You might read the Bloodhound Blog piece, click on over to Melina's summary, and offer your opinion.