What Happens When Mortgage Rates Drop?

Rate Drop Policy:

In this video, I’m going to explain our rate drop guarantee for existing client applications, or you might call it our “it still is an over rate policy”. What does this mean? I’ll get to that in a minute. But first, let me explain the context of this video.

A client is buying a home and signed their mortgage paperwork, fulfills all their conditions, and is waiting for possession with most banks, brokers. It’s done, and they move on to the next file. However, at RedKey Mortgage, we will not stop monitoring your rate until the very week you close the file.

In fact, this week, we accomplished this four days before David’s possession, and he just wrote a Google review, in case you wanted to fact check.

So back to the intro of the Mortgage Minute. Why do we call this? “It still is an over rate policy”? Well, because I really wanted to drive home that even when the file is complete, it’s not over for us, and it seemed like a perfect time to bring in Ryan Gosling and Rachel McAdams to drive home this point, “It wasn’t over. It still isn’t over.”

Video Highlights:

The Rate Drop Guarantee Explained
A breakdown of RedKey Mortgage’s “Rate Drop Guarantee” for existing client applications, ensuring clients benefit from falling mortgage rates, even after signing their initial mortgage paperwork.

Continual Rate Monitoring Until Closing
Unlike most banks and brokers, RedKey Mortgage continues to monitor your mortgage rate until the very week your file closes, ensuring you always secure the best rate possible.

Real-World Example of Client Savings
The video shares a recent success story where RedKey Mortgage saved a client money by adjusting their rate four days before possession, highlighting the real-world impact of the rate drop policy.

The Power of Broker-Lender Relationships
The value of having strong relationships with multiple lenders, including major banks in Canada, which leads to better options for borrowers.

Why It’s Called the “It Still Isn’t Over” Policy
An explanation of why RedKey Mortgage refers to this policy as “It Still Isn’t Over,” emphasizing their commitment to continuously work on behalf of the client, even after the mortgage file is seemingly complete.

Client Trust and Transparency
Highlighting RedKey Mortgage’s dedication to transparency and client satisfaction by continuously seeking ways to secure better terms, with an amusing pop culture reference to emphasize the point.

Takeaways

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  • RedKey Mortgage offers a unique “Rate Drop Guarantee” that ensures clients benefit from lower mortgage rates, even after signing the paperwork.
  • Unlike most brokers, RedKey Mortgage monitors your rate until the very week your file closes, saving clients money when rates drop.
  • Their dedication to client satisfaction means that the work isn’t over when the paperwork is complete—RedKey keeps striving to get you the best rate.
  • Real-life success stories, like a client receiving a rate drop just days before possession, demonstrate the value of this policy.
  • This level of commitment helps foster trust and shows that RedKey Mortgage truly has their clients’ best interests in mind.
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