Yes, we all get caught up in looking at the end result low mortgage interest rates and don't realize there are a few ways to achieve the end results. I do this on occasion, forgetting that a borrower may want a lower mortgage interest rate than the typical 30 year fixed mortgage interest rate and would consider a shorter term fixed loan. Shorter term fixed loans come with Especially in this "New" mortgage marketplace, where we as professionals see the rates as being low, when the borrower thinks the 30 year rate we quote them is high.
Consumers are not aware of all the mortgage loan options that are being offered. In an effort to not confuse them, we sometimes cut ourselves short and forget that there is more than one way to achieve the end results.
Same thing happens when the contract is being negotiated or when the borrower suddenly realizes their dream home is slipping away because the lender declined them. Most people close up shop and go another direction, when we could get creative and offer something like the " seller rate buy down" or the seller carrying the second or the seller paying for a mortgage insurance policy premium. These kind of actions or "thinking beyond outside the box" save a sale from going south.
Lots to think about!