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Hello Everyone California Mortgage and Real Estate Mortgage rates continue to climb at a rapid pace. They seem to go down very, very slowly but when they increase it seems to be all of a sudden. While we are out of the low 3's and moving into the high 3's and low 4's it's still a remarkably historic time for rates and record affordability. We will one day look back at this time with many "shoulda, woulda, coulda's". Watch the video below for the full story. A summery is as follows. We are in a strong lock position. Many economists feel that because the economy is doing better the Fed's policy of propping up the rates, so to speak, will begin to ease coming into the end of 2013 and 2014. I think rates are going to settle in, in the 4's and perhaps the low 5's, however rates are driven by many variables and one never knows exactly what will happen in the future. That's why if you are looking to purchase get off the fence and make it happen!!!! NOW I went to a Mortgage Conference in Las Vegas last week and the only thing I lost was sleep (YAY Winner Winner Chicken Dinner). Last time I was in Vegas at a mortgage thing was 2007 right before the whole house of cards came tumbling down. Peter Schiff predicted the market would tank - he looked into the audience and said "85% of you (mortgage folks) would be out of a job so you better start looking for work now", furthermore he said "prices would drop 50-65%"... Gasp the room went silent there were even a few BOOOOOOOOOOOOOOO's. But he was right that ole' Shciffy. So this time around one of my favorite mortgage guys (who knows lots of stuff) Barry Habib said hey guys... "Before this whole thing is over we still have about a 40% increase in housing values before we reach the "affordability peak" (prices are too high for people to afford) even if rates went in the 7's.. He produced charts and data that supported this statement. I am down with that prediction. I follow a lot of really smart people in our area, Bruce Norris, the Inland Empire Real Estate Guru for example and he predicts prices in our area (I.E.) to go up 20% in 13' and 20% in 14' after that he says it's really going to depend on Rates and the Economy. The fact is it's happening, i couldn't urge you any more to just pull the trigger now don't wait. If you are looking to purchase or maybe you are trying to purchase but haven't had success I have a SECRET I CAN SHARE WITH YOU, that no Realtor or Loan Officer in their right mind would tell you. Call me at 909-920-3500 to find out more. I got a little take away from my Mortgage Conference that I wanted to share with you. Steve Jobs at a graduation ceremony shared a quote from someone (forget who originally said it)… I get up every day and look myself in the mirror, I ask myself, if today were my last day on earth would I be happy with how I have lived my life and how I will live on this this last day of my life, will I be satisfied, content, etc. If the answer is no more times then yes they I must DO SOMETHING ABOUT IT. I think we all sometimes fall back into thinking about what we have to do, what we didn’t do, what we are gonna do etc. If you are living your life unhappily and not appreciating the moment(s). Then do something about it in 2103! Love Ya - TTYL
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