Mortgage Rate Update

Mortgage interest rates continue to be near the all-time low levels we have been experiencing since June of this year. Mortgage rates are still at historically low levels despite the FHFA (Federal Housing Finance Administration) refinance fee hike that by now has been implemented by most lenders. The bond market has been able to weather the pull of investor funds flowing into the torrid stock market. With the continued help of the Federal Reserve, purchasing $120 Billion worth of bonds and treasuries per month, bond yields that most influence mortgage rates remain at these historically low levels.

Taking a Breather

As many of you know, I have been working non-stop since February, mostly seven days a week and 16+ hour days, Monday through Thursday. I am completely fried at this point and need to take a break before I break, physically and mentally.

No New Loan Applications in December

My initial plan was to stop taking refinance applications for one month, starting in December 2020. I have decided to add purchase pre-approvals to that not-do list.

Basically, this means I will not be taking on any new loan applications for one month starting December 1, 2020. I will start taking new loan applications in the new year after January 3rd, 2021.

I will continue to work on closing all loans that are in process prior to December 1st and my staff will still be working through the holidays to make sure every loan closes efficiently and on time. I will also continue to be available by phone and e-mail during this time.

December Backup for Urgent Loan Situations

I do have a very seasoned loan agent backing me up who can help with new borrowers who absolutely need to start the process in December. He is a long-time colleague of mine who is also with C2 Financial, which means he has access to all the same lenders and loan programs that I do. He is also a top producing agent with C2. I have complete faith in him, so do feel free to reach out to have me connect you to him if you can’t wait until January to start the process with me.

2020 — A Record Year

Thanks to your continued support, I will have closed almost three times the loan volume in 2020 as I did in 2019. 2019 was the third-best year of my 25-year career in mortgage lending and 2020 blew that away to become my best year ever!

I was able to move into the top five of 900 C2 Financial Corp. agents through the 2020 year and even make top producer overall in June when I closed 40 loans — double my previous record!

C2 is the largest pure mortgage broker in the country.

Thank You All

I could not have done this without all the business and support I get from my ongoing clients and referral partners. I can’t thank you all enough; and a special thanks to the incredible community in Irvine, Calif. for burying me under massive refinance volume this year. You all know who you are, and I would not be in the top five without you!

Wishing You Happy Holidays

Wishing you all safe, healthy, and happy holidays. May the end of 2020 send us all into much better times in 2021, when we can all get back to a more normal pace of life and be with all of our loved ones again.

Yours,

Vic

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