Understanding the Fed Funds Rate with Dan Habib


This week, join Jen and her guest Dan Habib, co-founder and Executive Vice President of MBS Highway. In this episode Jen interviews Dan as he explains what the Fed Funds rate is and how it affects your mortgage payment.


Tune in to hear more!

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Understanding the Fed Funds Rate with Dan Habib

Hey everyone. It’s Jen Du Plessis. Welcome back to Mortgage Lending Mastery. First, as I always say, I wanna thank you for taking time out of your busy day to listen to this podcast and to share your feedback with me so that I can continue to bring great guests and great content as I’ve done for almost nine years.

Now, today, my special guest is Dan Habib. Now you’re probably going, wait a minute. I kind of know that name. Well, Dan is Barry’s son, and if. Part of MBS highway, you know, already know that. Right. But if you’re not, uh, you now know that, you know, Dan has been with, uh, Barry for quite some time, OB obviously you’ve been there all your life, but he’s been with, uh, Barry for quite some time.

He’s the co-founder of MBS highway. He’s been with MB. I think it’s been nine years now that you’ve been with MBS highway 18 years in the mortgage business. He was a Morgan Stanley financial advisor beforehand. So this all just kind of runs hand in hand, um, and also has been. Named as one of the top 40, under 40 as mortgage professionals nationally.

Um, and he’s currently the executive vice president of MBS highway I AB. And so welcome to the show, Dan, I just I’m loosely giving your bio because it’s just inconsequential to the fact that you, when everyone hears you, they’re gonna know that you have all this knowledge and, and wonderful stuff. 


Well, thanks for having me. It’s good to be here.


Yeah, it’s kind of cool. And you know, what I’m really excited about is that usually when you and I speak, uh, we’re at a conference and I’m saying, Hey, where’s my link. , where’s my something for my, my coaching students. Right. Because they get a special discount and I, and I, uh, and I’m always going, Hey, how are you?

And it’s very superficial. So I’m really excited that we have, you know, some time to, uh, Has some real strong conversation about what’s going on in the market, what the future of mortgage lending and real estate looks like, you know, given the fact that, uh, today, while we’re recording the, uh, consumer price index came out a little bit lower, but still high.

And I, I just wanna get your take on what’s going on in the market. What are you seeing? I obviously watch the markets all the time. Um, And really am following. I follow, well, I follow MBS highway, but I also, uh, follow the MBA and what they’re predicting. And I think their predictions were a little. More aggressive in the fact that they thought at, at two Q and three Q of this year, we would be at 5.1 as an average, you know, interest rate.

And we’re just not there yet. So they’re a little off on their prediction. So, um, Just curious to see what happens. So before we get into all that, because we will, and that’s what you talk about all day long. Um, I just wanna kind of talk about what it’s like to be, because I always get asked this. Well, actually I don’t, my daughter gets asked this question because she’s in the business now.

Right. She always gets asked the question, what’s it like to live under the wings of mama? Right. So what’s it like to live under the wings of Barry? Who’s a dear friend as well. What’s it like to live under his wings?


Well, listen, it’s been both great and challenging.




Let me explain. So, you know, I grew up in the mortgage business having a father like Barry, who was, you know, one of the top mortgage producers in the country on a few occasions and, uh, you know, had his own mortgage company and then created mortgage market guide where created the sales team there.

And then now MBS highway for about the ni last nine and a half years. So. Listen, he’s probably my best friend. He’s also my mentor. So to, uh, a very high degree, I consider myself extremely lucky to have a father like Barry, because he’s, you know, one of the most knowledgeable and respected in a mortgage and real estate space.

And he is been such a great teacher. And I think instrumental in my success professionally, but that doesn’t come without its challenges. You know, he casts a very large shadow. Such a big name and it’s obviously some really big shoes to fill. So for a long time, you know, while I enjoyed that, one of the things that I found difficult was really creating my own name and trying to not be Barry Habib’s son.

Yes. But to be Dan Habib did right. 

So that was difficult. But, you know, I, I consider, I still very lucky because it was afforded some great opportunities having a father like Barry, and, you know, I, I like to think now I’ve, I’ve done a pretty good job. Of trying to step out of that shadow and create my own name and really that’s just through consistency and, and working hard and, uh, picking up some more responsibilities, you know, with an MBS highway and also doing some professional speaking out there.

So I would say overall it’s been fantastic, but certainly challenging and listen, my father. He, um, you know, he’s always been tough on me, which I think is a good thing, you know, so, uh, you know, expects, uh, greatness and, and, uh, you know, excellence. And he, he’s quite a bit of a perfectionist, but, uh, I love my dad, so yeah.


Yeah. You, I mean, that sounds like a broken record right there to me. cause I’ve heard my daughter say it the same way. It’s yeah. And you know, it’s funny because, uh, so I wanna know about the tutelage, you know, uh, she will come to me when she has to. But not as a first option, she will, you know, she doesn’t wanna be a mini me, so she she’ll try to get her answer.

And then she’ll finally come to me and go, okay, I’ve asked everybody and now I have to ask you, you know, it’s kind of interesting is she tries to, you know, peel away from, from that as well. So I think that’s pretty cool. Um, how do you find, uh, you know, cause I am talking about this relationship. And it’s not even, it’s not just him.

I’m talking about a father, son relationship in the business because as you know, my husband worked with me for 17 years, and then when I departed and retired out of lending, my daughter came in. She got in the quick sand and, you know, she quickly started leading the team and my husband took the backseat again, which he’s fine doing.

But, um, you know, there is a dynamic that ha and by the way, my son used to work for us too. And now he’s, you know, a big options trader and stuff, but, um, you know, there’s such a dynamic in trying to separate. Business from personal, personal from business all the time. How do you guys manage that?


Well, um, I think that it’s, it’s kind of commingled, right?

So, uh, yeah, you’re always,


It’s no balance. It’s just integrated.


I mean, we, we get a chance to hang out quite often, you know, we’re, we’re, he’s in Florida half the year, but yeah. You know, when I see him here in the office, uh, you know, half the year, it’s great. And, and we live very close to each other. So we, we get together a lot, um, you know, recreationally or, or outside of work.

But, you know, the conversation is, is oftentimes. You know, going back to work and such. So I, I don’t know, uh, you know, if you recall us the most successful in separating those two things, but we, we are both very passionate about it and, you know, I think we have a wonderful


Doesn’t feel like work.


No, exactly.


Listen to the Full Episode HERE



Get to know Dan Habib!

Dan Habib has been involved in the mortgage industry for over 18 years. He was just honored by National Mortgage Professional Magazine by being named one of the top
40 under 40 mortgage professionals in the country.
He was also presented with Housing Wire’s “Rising Star” award, which acknowledges young leaders in the housing industry.

He was an integral part of Mortgage Market Guide, founded by Barry Habib, where he created and managed the sales team and helped grow their subscriber base.

Dan later worked at Morgan Stanley as a Financial Advisor, where he was a member of the #1 ranked Barron’s financial advisory team in NJ. Dan has held his series 7, 63, 65, 31, and Life and Health insurance licenses.

He is currently the Executive Vice President and one of the founders of MBS Highway. Dan has been instrumental in all aspects of MBS Highway’s significant growth over the past
8.5 years.

He is extremely personable and loves having a team environment. He works very closely with the development team to create new tools for MBS Highway members. He
also enjoys communicating with customers on a daily basis to answer their housing and market related questions.

Dan is also a sought-after speaker due to his extensive knowledge on the mortgage and real estate markets.





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