Long-term mortgage interest rates continued higher Tuesday, and the benchmark 10-year Treasury bond yield rose to 4.37 percent.
The 30-year fixed-rate average inched up to 5.96 percent, and the 15-year fixed rate gained to 5.57 percent. The 1-year adjustable, however, slipped to 5.63 percent.
The 30-year Treasury bond yield gained to 4.67 percent.
There are ways that realtors and mortgage brokers can work with title companies that do not involve illegal payments and can save consumers a lot on title insurance and closing costs. First things first. These arrangements do not involve Joint Ventures. Instead, they involve totally independent businesses working together to offer consumers the best service and passing any cost savings to the consumer. There is nothing wrong with a realtor recommending a title company that they believe offers superb customer service and low prices. This is much different than recommending a title company because the agent or broker is being paid to do so. One important point is that this should be a recommendation and the consumer should be informed that they have a right to choose their own title insurance provider. Reputable realtors, mortgage brokers, and real estate attorneys should always put their customers’ needs first and if they have a preferred title company that has the same customer first ideals they should have no problem recommending them. This type of partnership gives consumers a bit of direction in something they may be unfamiliar with while still allowing them to make the final decision themselves.
Helping customers find a title company is good practice but it is important that the help is designed to benefit the customer. Forging relationships between title companies, realtor, and brokers can help build strong professional relationships and good will with consumers as long as they are done legally and for the consumer.
