Well, that was fast! Halloween has come and gone, and daylight savings is over. Personally, I dislike the darkness in the late afternoon. Time to get out my light therapy lamp!
INTEREST RATES
Rates have come down a bit over the past week, a welcome
relief. They are back down towards the
mid-7’s but as always, the rate you receive is dependent on a number of
factors. Why the downward trend? Although
the economy is still chugging along, new jobs numbers were lower than expected
and unemployment figures are up. We see
consumer spending on the rise coupled with higher consumer credit use, and
savings rates down. Please stop discretionary
spending so inflation can slow! 😊
The Fed did not raise their rate this month but has left the
door open to a future increase...
HOME VALUES
Here in Southern California, along with most of the country,
home prices are still rising due to the low inventory nationwide. Be assured that an investment in real estate
in Orange County is a solid investment for future growth. Although rates will come down further at some
point, home prices will not. Buy now,
Refi later is the Mantra of lenders and realtors alike. Marry the Home, Date the Rate!
ATTENTION VETERANS!
Both VA loans and CalVet loans offer lower interest rates
and up to 100% financing of the purchase price.
The CalVET program has rates lower than anything out in the market
today, plus they offer down payment/closing costs assistance with a “silent
second” that carries no payment for the first ten years. We salute our Veterans on Veteran’s Day this
November 11th. Thank
you for your service!
ACCESS EQUIITY WITHOUT TOUCHING YOUR LOW-RATE MORTGAGE
Almost every day we hear from clients who want to access
cash out of their home without touching their low-rate mortgage. We are here to help! You can use a personal loan to quickly access
cash by clicking here: Personal loan link
You can also access cash using a HELOC (Home Equity Line of
Credit) and these come in floating rate lines or fixed rate loans. Your choice depends on your needs. We have programs available to assist you, so
reach out!
Last but not least, you can access
equity with a Reverse 2nd Mortgage. As an example, your home is now worth $1.5M. Assuming you are age 70, and your current loan balance
is $350,000, you can access up to $200,000 in a reverse loan in 2nd
position with no payment required.
These programs come in a few different setups. One requires interest only payments for ten years,
and then converts to no payment required.
The other is standard, with no payment from the get-go.
THANKSGIVING
This is the time of year when we reflect on all that we have
to be grateful for. With all the turmoil
in the world, we are exceedingly lucky to live in such a beautiful and
relatively peaceful place. From our Team
to your family, we wish you a fabulous holiday with your family.
