American Pacific Mortgage

American Pacific Mortgage

Wednesday, April 26, 2023

Market Updates, Panama Canal and Scuba Diving


We just returned from our Company Summit meeting, with industry updates, information about new programs, a variety of speakers, and great information coupled with a lot of fun!  New technology allows us to have files quickly and completely approved within 24-48 hours to allow realtors to avoid lengthy contract contingencies.  Good news for buyers and agents alike! 

We also have been using our Mobile App more and our clients love it.  They can do everything on their file right from their phone, from uploading documents, to signing required items. Wow!

Rates are moving up and down a bit with no indication yet of a real direction.  We continue to expect rates to decrease by year end, as recession finally takes hold of the economy.  Home prices are holding  steady, at least here in Southern California.  As of now there is still so little inventory that there is no downward pressure on prices.  And, when rates do drop, there will be more buyers ready, willing and able to step up competition for the homes that are on the market.  So, why buy now?  Because when rates drop there will be more competition for your dream home.


We escaped the local cool March weather and rain to complete a “bucket list” trip through the Panama Canal and up to the Cayman Islands over the last four weeks.  We joined friends on their 55’ sailboat in Panama City, awaiting clearance to go through the canal.  The locks were quite an experience, as we went first up, and then down to get through to the Atlantic from the Pacific Ocean over about 14 hours.  

We then sailed to the San Blas islands which are inhabited by the Guna peoples.  These tiny tropical islands are picture-postcard beautiful, and the people are friendly.  They live in very primitive circumstances and seem happy as clams!

Next we sailed to the island of San Andres off the coast of Nicaragua (although it is Columbian) and spent a couple days there resting/regrouping before our longer passage to Grand Cayman.

After our arrival at Georgetown yacht Club, and general boat clean-up, we moved off the boat to the Sunset House Dive Resort for the last week of our trip.  We only saw a couple of sharks and turtles-- but had a great time diving and touring Grand Cayman. 

The sailing was harrowing at times with a couple of mishaps involving sails and a lost kayak, but overall it was the adventure of a lifetime.