Chris Salese

As has often been the case, each year brings with it different twists and turns in the mortgage world.

Despite those unpredictable events, there is also a layer of normalcy that delicately resides over everything.

For example, during the past 12 months, you’ve still been subjected to the normal ups and downs of interest rates you can’t control.

In addition, you’ve still been asked to provide lengthy explanations for items in your credit file and requests for tons of financial documentation from your lender to help them figure out a way to approve your loan.

It really wouldn’t be fun if it was any different, right?

In a way, all of this is somewhat comforting because it’s at least consistent.

Of course, there will be some days that are much better to lock a rate than other days, but you know that already.

You know that if you’re buying a home, you can’t dictate mortgage market conditions on the day your offer gets accepted.

You just need to manage things the best you can with your lender, and hopefully you’ve done enough smart mortgage planning exercises in advance.

You also know that depending on the underwriter for your file, you can’t predict all questions or requests that will be made up until your loan closes. It is what it is, you manage it.

However, market change is what you can’t forecast with accuracy and certainly not to the extent in which it can change.

You’ve all heard it plenty of times: nobody likes change. It doesn’t matter what you are referring to, change is change.

We would all rather deal with the ebbs and flows of what we know rather than of what we don’t know.

It’s easier, it’s safer and it’s less stressful that way. But is it better? We shall see.

For the first time in many years, the shifting of power from sellers to buyers in 2018 started to change, and the increase of more folks in the real estate and mortgage industry not following the rules did too.

There are other examples, lots of them, yet for some reason these two stand out the most to me.

So, should we cheers 2018 for giving us the signals of change we need to be mindful of in 2019? I’ll let you think about it and prepare accordingly.

For now, it’s time to rock around the home equity tree, with a little help from Brenda Lee!

“Rockin’ around the Home Equity tree

At your lender’s party hop

Mistletoe hung where you can see

Every couple tries to shop”

“Rockin’ around the Home Equity tree

Let the Christmas spirit ring

Later we’ll have some bills to pay

So we’ll just do some refinancing”

“You will get a sentimental feeling

When you hear

your home delivery person’s voice singing let’s be jolly

Deck the halls with doughs of money”

“Rockin’ around the Home Equity tree

Have a happy holiday

Everyone pulling out money merrily

In the new old-fashioned way!”

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Chris Salese can be reached at chris@delsurmortgage.com or 707-363-4439. He is a licensed California mortgage lender (LO NMLS #254469 — CA-DBO #254469 Corp NMLS #1169 Equal Housing Lender.