In the HBO hit series, Game of Thrones, the show slogan was Winter is Coming. This portended that even though times may be good now, hard times were up ahead.
In today’s historically low mortgage rate environment, many mortgage lenders as well as companies supporting mortgage lending have enjoyed record high loan growth and record high stock prices.
No one can predict when, but we’ve all heard the saying, “What goes up, must come down.” The inverse is true with interest rates, what goes down, must come up, eventually. Determining when rates will begin rising is a fool’s errand. But, it is coming.
So, what do we do now? Strike while the iron is still hot. There is a Bible story where 7 good years were followed by 7 years of famine. To survive, the Egyptians had to harvest and save during the good years to be ready for the famine. Now is the time to harvest. If you are a lender, throw your net far and wide. Because Winter is Coming…
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