Ep. 123 - EPO: The Mortgage Bad Word

Did you or someone you know buy a home amid rising rates, only to face potential regret as rates fall—perhaps rapidly? What threats do plunging interest rates pose not just to you, but also to lenders? In this episode, Quinton spotlights the double-edged sword of declining rates. He walks through the mortgage lifecycle, explaining the concept of early payoffs (EPOs) that recently-inked loans face. If you are a lender or consumer and want to be more prepared for the coming year, this is the episode for you!

[00:00 - 01:50] - Introduction

[01:51 - 03:35] - Disparity in interest rates

[03:36 - 07:46] - Managing rate locks

[07:47 - 13:31] - Early payoff implications

[13:32 - 16:44] - Mortgage industry earnings outlook

Key Quote:

"As a consumer you can actually position yourself quite nicely to get one heck of a refinance if you decide to go back and work with the lender that did that loan" - Quinton Harris

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