November 2016 Update

viral-vicHello 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, including the Big Kahuna Janet Yellen, seemed to indicate that a December rate hike is a foregone conclusion. Say good bye to the best run on rates in over 50 years that began around July 5th of this year and concluded the day after the election. We may still see some temporary improvement following a December rate hike since the bond market likes it when the Fed actively fights inflation and the Fed’s tool in doing that is raising the Fed Funds rate of interest. This may be the beginning of when the real estate markets start turning from a seller’s market to a buyer’s market. I am looking forward to the change despite the fact that the recent five month run on rates helped me have my best year ever, thanks to the market environment and my loyal clients like all of you. Thank you all, from the bottom of my heart, for continuing to support my business and keep in the top 10 of 500 agents that work under the C2 Financial umbrella.

The head sales/marketing person who works for the marketing firm that produces this newsletter recently had a one to one with me on the phone to discuss how I can better leverage my marketing efforts to retain more of my existing clients and procure more new clients. His suggestion was that I reduce the amount that I use this newsletter as a market update resource and spend more time giving you all personal information about myself. Maybe tell you all about how I am an avid SCUBA diver with over 600 dives with a rescue diver certification. Or tell you that my daughter, who is now 21 years old and a senior at UC Santa Cruz, is also a certified rescue diver with over 300 dives to her credit.

How my pipe dream is to own a property on the Big Island of Hawaii and live there part time to get my SCUBA dive instructor’s license to teach people how to dive for fun and use the Big Island as a jumping off point to SCUBA in the South Pacific and Southeast Asia, while infiltrating the Hawaiian residential mortgage markets. Possibly some of you are interested in knowing that I am an avid Golden State Warriors basketball fan for the past 40 years and I share two season seats with a buddy of mine so I can go to games as well as send clients/family/friends/co-workers to games. It might also interest you to know that I have many tattoos and am currently working on an entire back piece inspired by Hindu mythology and stories that my father used to tell me verbally as my bed time stories when I was a child. I am sure this marketing expert knows what he is talking about but it would be great to hear from you about what you like or don’t like about the content that I write for this monthly newsletter.

Maybe hearing about the latest concert I went to or the most recent place I traveled to for SCUBA diving interests you more than the boring market updates and mortgage related blurbs that I write. Or maybe you like my take on the industry and only need to hear about my personal life once a year around the holidays. Please feel free to call or e-mail me with your feedback. This newsletter is my chance to connect with all of you and I want to know what you like or dislike about this mailer and my content so I can give you something each month that keeps your interest and is of some small value to you. In the meanwhile, here’s wishing you all a happy and healthy holiday season and a very happy new year!

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

viral@vicjoshi.com

www.vicjoshi.com

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