July Mortgage Report

viral-vicHello Friends,

Mortgage rates increased slightly at the end of June 2017 through the middle of July 2017, and then started moving slightly lower again. Despite the Federal Reserve’s increase of the Fed Funds interest rate in June and indications of at least one more rate hike this year, mortgage rates are still within .5% of the 50-year low we last saw between June and September of 2016. Rates are still at historically low levels, while inventory remains short. The feeding frenzy in California real estate continues. Despite the Federal Reserve beginning to unload their balance sheet of mortgage-backed securities and treasury bonds, rates have remained in check so far.

This summer, I have made it a point to go visit friends and family who live all over the country. My dearest friend and the closest person I had to a blood brother passed away in 2016, which is the impetus for me making more of an effort to connect with friends and family in 2017 and into the future.

Also, after 20+ years in the mortgage business, performing at the highest level in the sales environment, my health has finally started to show signs of weakness. Working on 5 to 20+ deals per month of the most stressful financial transaction most consumers ever experience, has helped to keep my stress levels very high for a long, extended period of time. My blood pressure is not reading well these days, so in addition to working on spreading out my work load, I am also engaging in lifestyle changes involving more exercise and a simpler diet to see if I can alleviate the issues without solely relying on pharmaceutical chemicals. Having been a top producer in this industry for so many years, I did not clearly see how this level of constant work could have an impact on my health. In fact, I felt invincible until I lost my best friend to cancer last year and then saw my blood pressure readings go outside a healthy level. Sometimes I have let the pace of this life take me away from what is really important, which are friends, family, and loved ones. I feel sad that this loss so close to home was what it took to get me to open my eyes to my own mortality, but I am implementing lifestyle changes and making more of an effort to get out there and be with the ones closest to me. My work will continue at the same level of sevice and expertise, but I cannot do it all by myself anymore. To this end I have added a new apprentice for the first time in many years to help defer some of the sress in my day to day dealings with banks, title companies, appraisers, and clients. The only way for me to keep up my pace and continue to service my clients at the highest levels is to delegate more, take better care of my health, and be out in the world more.

Thank you all again for your continued support, and rest assured that I will continue to be your mortgage broker for life, with life more in mind.

As always, your loan guy,
Viral (Vic) Joshi

P.S. If you want to get more timely market updates, I have a weekly newsletter that goes out via e-mail. E-mail me, viral@vicjoshi. com, so that I can put you on the mailing list.

Loan Consultant/Branch Manager

C2 Financial Corporation

510.655.2868 Direct

510.853.2407 Cell

510.291.2824 eFax



BRE# 01242935

NMLS# 244388

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