American Pacific Mortgage

American Pacific Mortgage

Monday, January 9, 2023

Rain, Rain, and....Rates!

Happy New Year!  2022 was a humdinger!!!   The start of 2023 has brought a lot of cold weather and rain here in California.  We need the rain and snow, so we can’t complain too much.  We need to sit back and enjoy sweater weather.


Interest rates have remained relatively flat for the month of December and show no signs of coming down…yet!  Most “experts” are banking on a drop by the end of this year.  Home prices are on a downward trend with the median home price in both Orange and Los Angeles counties dropping a bit.  Orange County is down to $960,000 and La County is down to $865,000.

Many buyers are either using a permanent “rate buydown” paid by either buyer or seller, or a 2-1 buydown paid by the seller.  This has the effect of reducing the rate and payment to a more affordable level.  Most homes are not receiving multiple offers, so the buyer is in the driver’s seat today.

BUY/FI Program

We offer a program where any client who closes a purchase before April 30th can refinance that loan with us – at a lower rate, as anticipated by next year, with NO LENDER FEES.  We will waive all lender fees so long as the refinance is completed by end of 2024.  This provides a great motivation to buy now, and refinance later to lower your interest rate.  Less competition + lower prices = good timing to buy now, and refinance later.


This is a cool service providing a monthly digest including a lot of information about your home value and neighborhood.  It will also note opportunities to sell or refinance.  Our clients love it, and if you aren’t receiving it yet you can click here to sign up: Home Owners

For prospective buyers, it is also a useful tool for watching market activity and values in a specific area.  Potential buyers should click here to sign up: Home Buyers


Home Equity Lines of Credit are very popular currently for homeowners who want to pull cash out of their home for home improvements or revolving debt payoff, but don’t want to touch their low interest rate mortgage.  We have some competitive programs to offer to our clients.


We work hard for our clients and do our utmost to provide clear information and choices, and great communication.  We truly care about our clients and always try to provide the best experience for their home loan. Please think of us when you hear of a friend or relative who could use our help.  We love referrals.