The Truth About Finding The Best Mortgage Rate

Hinzugefügt: 2026-05-30

[00:00:01]Hey everybody, Economic Ninja here. I want to talk today about mortgage rates and the truth about mortgage rates and something that happened yesterday that I'm very excited about because I got some incredible stories already uh about people that are contacting the company that I'm where do I start?

[00:00:20]in the early 2000s when I was buying and selling real estate and buying, you know, long-term rentals, duplexes, triplexes, forplexes, things like that.

[00:00:30]I never moved into commercial back then.

[00:00:33]But what I was doing was I was crushing it and I was able to turn so many homes even though I wasn't using hard money loans. I was watching competitors of mine paying 10, 12, 14%, just crazy rates of interest because they're like, "Oh, I'm only going to hold this house for 90 days or 120 days." I was doing the same thing, but I was closing these loans with banks and I was out finding all these banks that needed to do business. And most people were overpaying and I was saving money.

[00:01:06]And a lot of people don't understand that that most financial institutions, they price their own loans. If they get a backlog of mortgages, like a ton of people, they've got inquiries coming in because the market's hot. They actually raise their prices a lot of times just to slow those up to go through the current list of people. And then there are other uh brokers that are moving so many loans on volume that they get special pricing from large banks and entities.

[00:01:36]And yesterday I put out a video about anybody having a high rate of mortgage.

[00:01:41]You've got to refinance now because there's this flip happening already happening. Rates are still going to go up a little higher. I I believe because the 10-year is under pressure because of fears from Japan selling their US treasuries also what's going on with Iran and I mean Cuba's next right so there's going to be some volatility this summer but what I was trying to tell people is like look you have this opportunity right now if your credit's lined up to um to refinance your house at a lower rate with like a free mortgage there in some cases other cases you would have to pay some minimal fees as long as those fees fees uh when you refinance and you save a bunch of money on your monthly payment because you're essentially res resetting the 30-year clock, right? Plus, you're getting a lower rate. So, you take that savings and you uh go, "Okay, well, how long are the fees that this is going to take going to come back to me?" That should be less than 6 months in my opinion, right?

[00:02:38]people lined up yesterday and I got stories of people that are are paying like a point, some are paying a point, some are getting free refies and they're saving stupid amounts of money. And this is where I really like showing people this stuff. And pretty soon I'm about to do a course on uh creative financing tips and tricks, but it's not the kind you think of. You know, you see people out there like Pace Msby and um other, you know, fin, you know, real estate guys that are doing these sub twos and stuff, which technically are illegal.

[00:03:09]They go, "Oh, yeah, but you know, so few times they come back." Oh, well, it's it's not the letter of the law or or the way that the mortgage works. Um, but banks don't have the time to really go after anyone. I like sitting in just the realm of not having to stress out and go with legitimate companies that are like here lining up. We're going to give you the money. I was talking with a buddy of mine, his name's Tyler, and he says DSCRs right now, uh, as long as all the documents are in his hand on day one, he could close some DSCRs in under nine days. Um, as long as everything lines up, right? That's obviously a, you know, a perfect scenario and that's how me and my wife used to run, but not a lot of people know that kind of stuff and not a lot of people understand how DSRs work or 21 buy downs or all these other different products that are out there that you could actually save a lot of money. And I know somebody that's about to get rid of a 14% hard money loan on a property, uh, a commercial property, and they're going to be ecstatic.

[00:04:16]this is that season that we've got to do this stuff in. You know, I am so jazzed about this next season. Even though like whenever I could see one of you save 500 bucks a month or a,000 bucks a month and then take that and I get emails from people, hey Ninja, I just paid off my credit cards. Thank you so much. Hey Ninja, my credit score is 840. Thank you. and they could see the difference of when they have less debt and they have a higher credit score that when they want to use other people's money to leverage, it just explodes for them. And that to me makes me so excited, it's insane. Um, I got an email the other day from somebody that said, actually it was a comment from somebody. I wish I had it with me. I'd read it. But uh it was that they' taken the mortgage course that I taught like years ago and they went and refinance their mortgage and they saw the savings from how they were going to do it as opposed to how they did it after they took the course. And that is there's so much info I could never put it on YouTube. There's just it's insane.

[00:05:20]As a matter of fact, I tell people all the time all of my best stuff, all my best teachings from courses are on my YouTube channels. people just can't find them because it's not in the feed and they don't know how to search for them.

[00:05:31]Um, and it's sad like I've got this one channel that's 100% educational videos.

[00:05:37]Matter of fact, I take actual lessons from my courses and I put them in this uh on the channel for free and then there's a call to action if you want the whole course, right? And they get no views. And I'm not bummed about it, but at the same time, I'm trying to do everything I can to educate people. And what I found is they can't uh really learn the course material unless they're sitting in front of something that's fully ready to rock and roll and they go, "Boom, I'm playing it. Hey honey, I'm I'm busy watching this. We're going to go crush this." Whether it be tax leans, getting a new mortgage, getting my credit score fixed, all that stuff.

[00:06:13]And uh it's just been really exciting.

[00:06:16]Now, I will say this, and I'm I'm curious because this is a a mortgage video. How many Can you guys do me a favor? type down below what your mortgage interest rate is and say yes or no if it's a 30-year fixed. The reason why I asked that is because I want to talk about um 51 71 ARMS and things like that. Usually in the last couple years, a handful of people, a lot of people actually around the country have done adjustable rate mortgage plans programs cuz they really wanted a house and they got into it and that was the rate that they could get into. And they have a very interesting um uh time period right now where they could actually convert that arm into a a 30-year fixed. Um probably for very little cost or no cost at all. So I' I'd take a look at the link down below if you want to go check it out. Um, so you got some that are three quart three and a quarter, five and a quarter, two, those are great, right? Um, my my point here is that there is a time where you could convert your arm into a 30. I know this is going to sound crazy, but if the rate is right, if you got into a 51 arm right now, in my personal opinion, this isn't financial advice, I think you're actually okay. And the reason why is because we're at the end of the economic real estate cycle, meaning that fuel prices have exploded for a long period of time. They're going to stay up for longer. Um rates are exploding higher. And usually we have a hard cap in the last um 50 years of our nation where 9% 8% is like the top. It can't go past that. You have a collapsing housing market. Well, that was the past.

[00:07:59]They used to sit there and for a handful of years they'd be okay and then they'd have to dip down. But real estate's gotten so expensive in the last 15, 20 years that an 8% or 9% mortgage rate would completely stop the entire mortgage industry. It would stop the housing industry. It would shutter everything because the cost of insurance, the cost of property taxes, and the actual price of the home have gone up so much. the nation the wages have not gone up high enough for long enough to sustain that type of monthly principal interest taxes and insurance the PITI payment type yes or no if is this making sense to you so where we are now as a nation with the current state of home prices where the median home price right now in the nation the sold price is at $413,000 that's the average sale price. Okay, where we're sitting at an average price of 403,000, a a 6 12 7% slows down the market severely. A 7 12 to 8% stops the market.

[00:09:11]Sales stop. They can't get there with a 30-year mortgage. So, they dive into 51 arms, 31 arms, things like that. I don't even know if 31 arm is even a big thing right now. So my point is is that right now where we are in this cycle because rates for the last year or so were in that seven range, we have slowed so severely that we're now on the downhill side. There are more homes being sold, I'm sorry, uh more homes being listed that are being sold. Days on market are extending, which means the home price is going down. It topped at around $440,000 for the median sold price in America.

[00:09:51]That was a third third quarter of 2022, I believe it is, and it's been going down ever since.

[00:09:59]We're now down to 401,000 because the rates were too high. So, now is that time before homes slide even further.

[00:10:08]And I believe you're going to see a lot more listings. We've seen a big uh push in listings in the springtime. We're going to see even more of a push in the summer as more news comes out that home prices are faltering. and we're going to see uh even more of a drop in home prices, which means for a lot of people that bought homes or refinanced, there were a lot of people that had to do, you know, cash out refinances for debt consolidation about a year and a half ago when the stories were buzzing about the amount of car debt, credit card debt, student loan debt, all that kind of stuff. They did these cash out refies at really high rates and now their homes are starting to fall in price or they bought a new home and it's starting to fall in price.

[00:10:50]A lot of people bought new homes in track developments and they're very deceived in price because the next phase is at, you know, let's say 5% higher than they bought. So they think that their house is worth more. But what they don't realize is the only reason or the only way that those companies, the builders can sell that next phase of the 5% higher is if they give 10% of the house's value back to the buyer in upgraded carpet, tile, granite, all these kind of things. And so they're very deceived because they go, "Oh, my house is worth more." It's actually not.

[00:11:26]It's all fake. And on top of that, the builders are having saying, "Hey, if you you work with our um our authorized lender, they're getting these uh the money at much cheaper rates like the people I'm working with. Um so they can they can provide those loans where a lot of people have told me they're like, "No, Ninja, I can't get a loan for under 6%. It's impossible right now. I can't get a 30-year fix for under six." It's because you went to the wrong people that are working very small groups.

[00:11:56]you're not talking to the largest groups that do this all the time. So, that's where I think it's it's really big. If you have a mortgage over 6 and a half% right now, take a look at the link below and then also go and get two or three more quotes, okay? It's time to act because you're going to see this by August or September. We're going to be reporting on how home prices are are falling even more sharply than they've been falling in the last year. And by then, it may be too late for a lot of people. So, take a look at that link, but go and get more quotes from other brokers and try and beat these guys. Um, that's a big deal with me. All right.

[00:12:33]And again, never refinance a property unless the refinance costs can be paid back in 6 months or less with the savings you're getting in your mortgage.

[00:12:44]Okay? Don't do that because when rates fall, I'm going to show you something really rad. A product that's a free refi with it. you're going to we're going to be searching for with your great credit scores for free refinances um every time the rates go down you know like a third of a point and then just boom boom boom every 6 months or 8 months you just do another refi and then you'll know you're at the bottom when the next 6 or 8 months come by and you go okay let's look at rates oh it's not lower than what I got you've hit the bottom and that's a really exciting place to be so I'm going to show people how to do this around the nation so all right with that being said thank you so much the ninja is out.