In Tuesday morning sales meeting, we got some interesting info on interest rates. We were down close to 5 and 1/2% on 30 yr fixed rate, but bonds were in trouble yesterday and the 30 yr fixed rate jumped up to 6% in about 4 hours. That is still a fantastic interest rate for buyers but not quite as good as yesterday. There are so many different factors that effect rates that it is sometimes hard to keep up!!
In other housing news, both listings and sales are up and our Utah market continues to be quite strong. We still haven't seen our usual spring time jump in inventory but there is adequate stock for current buyers to look at. Interestingly enough, income property inventory is down and there is very good demand for duplexes and 4-plexes.
In other news, we talked about title insurance and different policies that are available. Mainly the conversation and information centered around how to get our clients the very best coverage for the best price. Sometimes title companies don't advertise their best price coverage and you won't know about it if you don't ask.
I am currently working on our April calendar, scheduling classes and training for our agents here at McDonald Group GMAC Real Estate. When we host a CE (Continuing Education) class we do invite other agents as well as title and mortgage people who need CE. We hold a class every day at 9:00 AM except Tuesdays when we have our sales meeting. The classes are primarily for new agent licensees to help them get started with their real estate career. However, the lion's share of their training is done one-on-one with me. We do it this way so they get exactly what they need each day to be successful that day in their new career. We know it works because the State of Utah loses close to 90% of their new licensees and we keep over 92% of our new agents in the business, successful and glad they are selling real estate.
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