Hello Friends, The Fed increased their target rate, the Fed Funds, by .25% at the conclusion of the March Open Market Committee meeting, as anticipated. Mortgage rates in March were up overall by .5% when compared to the same time a year ago. The Fed members are still talking about raising the Fed Funds rate … Continue reading March 2017 Update →
Hello Friends, January 2017 saw refinance applications down 23% month over year compared to January 2016. This was caused by only a .25% increase in mortgage rates compared with a year ago. This shows how sensitive the refinance markets are to slight rate fluctuations. In fact, the refinance boom from late June 2016 until late … Continue reading January 2017 Update →
Hello Friends, Happy New Year! 2016 was one of the two best years for me in my 22+ year career. Thank you all for your continued support as I needed this good year with a far less certain year ahead. The Federal Reserve did increase their target interest rate, the Fed Funds, by .25% on … Continue reading December 2016 Update →
Hello Friends, The bond market did not like the Presidential Election results with a massive sell off that began the day after the election and continued for four consecutive trading sessions that saw mortgage rates increase between .5% and .75% across the board for all mortgage products. Following the election, many voting Federal Reserve members, … Continue reading November 2016 Update →
Hello Friends, I can’t report on the latest meeting from the Federal Reserve that happened 9/20-9/21 in this newsletter due to timing issues with getting my content to the publisher. I will take a break on rates this week and focus more on home ownership challenges that first time home buyers face from a lending perspective. Real estate home … Continue reading September 19, 2016 Update →
Hello Friends, Attached is this week’s newsletter recapping last week and showing this coming week’s economic calendar. Our little run low on rates last week lasted for ONE DAY, 9/7. Rates then marched back up the last four days including today, 9/13. Next week’s Federal Reserve rate decision will be critical to where mortgage rates start heading after this … Continue reading Market Update September 12, 2016 →
Hello Friends, Bond and stock prices recorded modest gains for the week when investors realized the week’s economic data was not that supportive for a 25 basis point rate hike at Federal Reserve’s September FOMC meeting despite several Fed officials suggesting such a rate hike could take place. To start the week, the Commerce Department … Continue reading Market Update September 5, 2016 →
Hello Friends, Rates continue to be near the lowest levels I have ever seen, but we have only had three days since Brexit where we touched or got close to the 50+ year low. That occurred on July 5th with some carry-over to July 6th and then again on July 29th for half of that … Continue reading Mortgage Report →
Hello Friends, Last Fridays surprise BLS jobs numbers were strong enough to spur a rally in stocks that hit a new record high. That caused the 10 year treasury bond yield to approach 1.6% today with mortgage rates floating up for over a week since we got close to bottom on July 29th. The first wave is starting close … Continue reading Market Update August 9, 2016 →
Hello Friends, Rates had flat lined for the past two weeks, .25% higher than the lows from July 5th and 6th. Today the Fed concluded the July Open Market Committee Meeting with their current interest rate policy. The Fed is not increasing the Fed Funds this time and inflation remained below their 2% target, over which would likely result … Continue reading Market Update July 25, 2016 →
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Viral (Vic) Joshi - Mortgage Consultant
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Oakland, CA 94609
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The services referred to herein are not available to persons located outside the state of California
Loan approval is not guaranteed and is subject to lender review of information. Loan is only approved when lender has issued approval in writing.
Specified rates may not be available for all borrowers. Rate subject to change with market conditions.
This licensee is performing acts for which a real estate license is required. C2 Financial is licensed by the California Bureau of Real Estate, Broker # 01821025; NMLS # 135622
This licensee is performing acts for which a real estate license is required. C2 Financial Corporation is licensed by the California Bureau of Real Estate, Broker # 01821025; NMLS # 135622. Loan approval is not guaranteed and is subject to lender review of information. Loan is only approved when lender has issued approval in writing. Specified rates may not be available for all borrowers. Rate subject to change with market conditions. C2 Financial Corporation is an Equal Opportunity Mortgage Broker/Lender. The services referred to herein are not available to persons located outside the state of California.
C2 Financial Corporation is approved to originate VA and FHA loans, and has the ability to broker such loans to VA and FHA approved lenders. C2 Financial Corporation is not acting on behalf of or at the direction of HUD/FHA or the VA.