Markets Are Volatile

Hi Friends,

Mortgage interest rates have moved slightly lower since my last update, due to a decrease in the 10-year treasury and 30-year bond yields. As of April 16th, 2021, Rates were .25% lower than they were the same time a year ago and .25% higher than they were on February 11th, 2021. The markets continue to be volatile and there promises to be more inflationary pressure in May and June of 2021, which will likely cause mortgage rates to rise up again.

Taking a Break!

After a record-breaking 2020 and a continued torrid pace to start 2021, I need to take an extended break to keep my health and sanity. I am not taking on any new transactions from April 1st through June 17th, 2021. I have a close colleague, who is also a top producer at C2 Financial, covering for me, so feel free to e-mail your loan scenario and I can put you in touch with him. I will be checking e-mail and will continue managing loans that are already in process. You can also call my cell phone, 510-853-2407, and leave me a message. I will return calls during this period of time and/or will respond via e-mail. If you need immediate assistance with loans in process, please contact my loan processor, Althea Huber at, 949-449-3966.

Live from a SCUBA Dive

As I write this update, I am on a live aboard a SCUBA dive ship anchored off the coast of San Benedicto Island, which is part of the Revillagigedo Islands 285 miles southwest of the tip of Baja California. Leaving from the harbor at Cabo San Lucas, it was a 26-hour ride to this location, the first of many dive sites in this volcanic archipelago known for its largest island, Socorro Island. It is 5:45 AM here and the SCUBA diving will start at 7:15 AM, with four dives today running until 5 PM. These islands boast huge schools of sharks including hammerheads, Galapagos sharks, silver tips, white tips, black tips, silky sharks, and an occasional tiger shark. We will dive with 25-foot-wingspan pelagic manta rays, pods of bottlenose dolphins, and if we are lucky, whale sharks, the largest fish in the ocean. After SCUBA diving with over 1,000 dives under my belt, I am finally able to dive one of the holy grails in the world of diving. I will send photos in the next newsletter and will post them to social media.

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


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