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Mass Media has completely derailed and not just for what I’m about to show you. The mass media implosion has been happening for years! Mass Media is basically the National Enquire Magazine and for the young people out there that don’t know what that is – it’s that magazine you see at the checkout counter that always says Brad Pitt is dating an alien or Obama is sleeping with Snookie from the Jersey shore! Basically no real news just entertainment! Well, ya that’s mass media right now. We honestly can’t trust them for anything. Fox is too far right. CNN too far left and all their agenda are easily sniffed out. Can’t trust any of them really. So there I am on my couch the day of the Fed announcement and NBC decides to do a piece on the Fed Rate Hike. Now, you’ll see in a minute they were 1000% off in their reporting. Now I don’t know about other industries but I DO know about RE and Lending and NBC being so far off in our Industry has me wondering what else they are 1000% wrong on! Who knows what we take at face value but is 1000% wrong in regards to say….. the automotive industry, Tech industry, Politics. I mean, is there other an Automatic Version of Ryan yelling at the screen saying you got it all wrong! Or a political version of Ryan saying OMG you guys are way off! Probably so! It makes you wonder! Anyways, so what am I fired up about!?! HA! Let’s take a look and I’ll provide the color community. NBC..you were saying! (Credit card, mortgage and car loan) WRONG! (200,000 mortgage could cost) NOPE, Wrong again! Fed Hike didn’t raise mortgage rates a .25 point! It actually did the reverse! (If that FED raises rates two more times this year…..) THEN it won’t raise mortgage rates like this graphic is showing you! This is a 1000% wrong! Please ignore. Sorry NBC, you were saying. ($720 more per year) Wrong again. Fear mongering. (Realtor saved me money…) Well if this story is true and these people aren’t actors you should be mad at your Realtor in all actuality! Cause rates improved that day! So she actually cost you money! Honestly NBC do you vet anything out or just make stuff up on the fly! (I didn’t just save money right away…) No, no actually you did the reverse of that. Anyways! Just proves again that we should be very careful about mass media and really the ultimate take away is do the research for yourself. Ask an actual lending professional not NBC nightly news. Again, I won’t explain the technicals but ask the RE/Lending professional that shared this video with you why the Fed Raising the Fed Funds Rate doesn’t affect mortgage rates. It indirectly affects them but not at all like the NBC graphic showed. And to be fair, if you are a RE/Lending professional and you would like us to cover this in more detail, we can, just let us know down below and we will put something together that is more technical and explains this all in detail! See you guys next week and for god sake – give mass media the boot!
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The guys at the RE Source produce weekly real estate & mortgage videos that are watched nationwide. Host Ryan Hills & Co-Host & Producer Ryan Christensen have been seen on the National Real Estate Post and Think Big Work Small. In addition to video, they continually mastermind with several industry leaders such as Mortgage Coach, Loan Toolbox, the Knowledge Coop, Mortgage Marketing Animals, Mortgage Mapp, and Keller Williams International. They have also worked with several Industry Advocacy Groups such as National Association of Independent Housing Professionals, National Association of Mortgage Women, WAMP, MBA and the NMBA to name a few.
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