American Pacific Mortgage

American Pacific Mortgage

Monday, November 6, 2023


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


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...


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!


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!


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. 


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.

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