Residential Lending Successes and News for October 2019

Good morning to the Welcome News of October !!!

Mortgage Rates Are Down – .

Don’t Miss Out .

Lowest since January 2018

Waiting to buy? Want more bang for your buck – Now is the time. Are you renting? Check out our market-based calculations for renting vs owning. Answers can be rewarding. For the past year plus, the affordability index for the Bay areas has only improved. Falling interest rates, wages going up, and home prices cooling from their peaks. Now is the time.

This month’s helpful PDF: Santa Clara County Real Estate Report Card. Call me if you have a real estate interest in other counties in California, or across the USA. This is one of many data sources, helping support my bullish attitude towards owning real estate.

Now is the Time: Today is a great day to refinance. Best, we have tools to help you calculate and decide the full monthly benefits of a straight refinance or for debt consolidation. You will be surprised. We are ready to help today, for your better – more simplified – tomorrow.

Is now the time to finish Summer projects or consolidate credit cards – CALL today!

The Good News: In 30-plus years in this business, my first priority remains you with a love to help my clients – using my technical know-how and learned experience to their full advantage. The goal: Be upbeat and informative about your today and vision for tomorrow. Let’s talk. We can help.

How can we best help you ?

WE are experts at finding our clients safe, sound, and secure loans best fit for them. It is why our conversation matters. It is why we offer you the full benefit of our skills and talents.

Points of interest:

  • Interest Rates: ‘Fed rates’ are where they were a year ago while our mortgage interest rates are close to 1 % lower. Better: Todays rates are trading near year lows for 2019.
  • Stock market: Regardless headline fears – China, EU, tariffs, recession and political blather – stocks are holding their own. Computerized trading – and its trigger points – is often key to sudden shifts and corrections in market pricing.
  • Inverted Yield Curve: Inverted for 1 week due to EU and China troubles, it is positive again – +0.10%. The typical spread has been 0.14 to 0.28 %. This helps mortgages.
  • Lending: Big banks are price aggressive in the purchase market. Refinance rates belong to the mortgager bankers and independents who have the flexibility to scale. Good News: New ‘interesting’ programs are coming to market. Bottom line: With plenty of money trying to get into service, let’s talk. And if you don’t fit usual underwriting guidelines, call. There are many new programs, bringing new opportunities to own.

Market News

1) GDP – USA: Robust ! Consumer spending at 4.7% – better than forecast. 1st Quarter growth – + 3.1 %, 2nd Q – + 2.0 %. Plus corporate profits for 2nd Quarter – +$75.8 billion.

2) Unemployment: Latest rates show a reduction from 3.7 % to 3.5 %. Job creation is on track and last months numbers were revised upwards. Yet wage growth showed no increase.

Conclusion: Potential for a US recession – not in the foreseeable future. Consensus from our time at the ‘I Survived Real Estate’ event is just under a year for a recession, from the 6 panelists. Longest term view was from Dr Doug Duncan, chief economist with Fannie Mae, and the shortest, from the technology speakers. Watch for rate cuts and new easing world-wide.

Recent Residential Success Story:

Refinancing: Refinances are up with strong employment prospects and rapid decline in interest rates. A number of our investor clients picked up distressed commercial properties and with a stronger economy, we are replacing private loans with long-term bank loans. Outcome: Stronger cash flow for future projects. A great benefit of these lower rates and our expertise.

Reverse mortgages: Another client chose a reverse mortgage, rather than selling what has been their home for 40 years. They did not what to move out of the area – Church, friends and their neighborhood. A Reverse Mortgage is one tool for handle monthly cash needs. Key is addressing your questions with an experienced professionals who cares. Call us to learn more.

Self-employed: Have great bank deposits, yet your tax returns show low income? We have the answer. Loans based on bank statement and stated income. Call today for details.

Capital Gain Tax-Deferral: Have a client – with California property – who wants to sell, but can’t – because of Capital gains Taxes? We have approved ways to defer such problems and thereby keep all your money working for you. A great opportunity – one not to be missed. Let’s start planning today. Call now.

Buying your next home: Two wonderful “tools”. The first is where clients can use their old home, as collateral for their new home!! Second, we have a tool whereby the current payment on the “old” home, does not count against your client, while they are settling into their new home. Excellent. You need options, tools, and alternative ideas? We have them. Call today.

Because You Matter

With our thoughts and discussion, if questions come to mind, let me know. Your opinion is important. Why? Because people are at the heart of my work. It is why I offer guidance –along with a complete set tools– to bring answers that work and safe. After 30 years, you learn many things about many different circumstances and situations. Call us, we know success.

Thank you for trusting me with yourself and your friends and family. Referrals are appreciated.

Call me – Your success is our priority.

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