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See what Essex has been up to this month! Happy September, we hope you all have a cozy fall season!
Every month we post to our social accounts but sometimes it can get lost in the mix of all the content found online at any given moment. Keep up to date with us in our blogs and monthly newsletters.
Here's what you'll find in this newsletter:
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Top Loan Officers & Employee Spotlight
Top Loan Officers from last month:
Glenn Daly, Fred Itzkovics and Troy Weatherly
GLENN DALY NMLS# 239978
"Glenn was incredible every step of the way. He found us the best possible loan at the best rate and explained every option along the way. We could not have asked for a better experience purchasing our first home together."
- Emily S., CA
FRED ITZKOVICS NMLS# 306112
"Fred is a great communicator and he keeps you up to date. I feel confident he got us the best deal possible."
- Anne T., CA
TROY WEATHERLY NMLS# 357207
"Troy is phenomenal at really taking time out to sit with you and talk through your concerns, questions, and various scenarios. I’ve done 4 loans with him and his team now and will always seek them out first for guidance."
- Jeni T., NV
Employee Spotlight:
Oliver Endresen | Emotional Support Therapy Dog
Question: How long have you worked at Essex?
Answer: I began as an emotional support therapy dog in 2016. I had a private office with my cage, toys and food readily available. I made rounds through the office for visits with the human co-workers and received lots of love and petting.
Question: Why do you like working at Essex?
Answer: I loved that I got to carpool with my mom everyday and go into the office to see my human friends. Everyone stopped by to lie on the floor with me, give me treats, or just throw a ball for me that I could chase through the isles. The worst thing I think I ever did is eat a sandwich off Julie Vasquez’ desk that she just left laying out one day. In my mind, I think she was sharing with me. Other than that, I was polite and behaved. The customers that came into the office would also stop by to greet me.
Question: What's a fun fact of yours?
Answer: Mom says that I’m very smart. I’m keen to my mom’s every move. When I see her get sneakers on, we are going for a walk. When she reaches for her keys, she’s headed somewhere, and I’m always hoping she’s taking me with her. She tells me not to bark when a car is passing by the street below my deck, and it’s a 50/50 chance if I listen. I have learned if I grab a stuffed animal and just bark with it in my mouth, it doesn’t make as much noise, I’m a clever guy. Makes mom very happy. My deck at home is lined up with lots of toys, so it’s a win-win for both of us. I also recognize all my mom’s friends by their first name. I know the human language very well, now if I could teach them my language we would be set.
Question: What is your favorite type of treat?
Answer: I love any toy that squeaks and all tennis balls. As for treats, there are the store-bought ones that I’m always asking for, but my all-time favorite is when I flash my big brown eyes at my mom at breakfast while she is having her coffee, and she has no choice than to share half of her morning blueberry muffin with me. Yep, that is my favorite.
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About Essex Mortgage
Community Appreciation: Laguna Beach Animal Shelter
Since 1975, the Laguna Beach Animal Shelter has been dedicated to helping strayed or abandoned animals in Laguna Beach and Laguna Woods, California. The shelter provides compassionate care, medical treatment, and adoption services for animals in need. To ensure pets are healthy for adoption, the shelter collaborates with PUP (Protecting Unwanted Pets), a nonprofit organization, to raise funds and awareness to tend to the medical needs of the animals.
If you would like to learn more or donate, click here: https://puplagunabeach.org/
Our Story
Hailing from Essex, England, Roland Weedon founded Essex Mortgage in 1986. With a background in education, Roland remained adamant that educating the client wouId be the company's number one priority. Today, Roland still holds to the fact that an educated client is best equipped to make decisions that are not only in their best interest, but also help in achieving both short and Iong-term goals.
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Mortgage Education
Points
A point, which can also be known as a discount point, is equal to one percent of the principal amount of your mortgage. For example, if you get a mortgage for $165,000, one point means $1,650 to the lender. Points are a one-time fee that can be paid upfront to reduce your interest rate payment over the life of the loan.
Default
Default is when someone fails to fulfill a legal obligation, in this case, paying a mortgage. A default includes failure to pay on a financial obligation, but may also be a failure to perform some action or service that is non-monetary. For example, a mortgage requires the borrower to maintain the property and a default would occur when this requirement is not met.
Fixed-Rate Mortgage
A fixed-rate mortgage is a type of home loan where the interest rate does not change over the entire life of the loan. This means that the borrower's principal and interest payments will remain the same each month. Even with fluctuations in the market, the borrowers interest rate will be locked in place.
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Mortgage News
Industry News
30-Year Mortgage Interest Rates
"Today’s average rate on a 30-year mortgage (fixed-rate) fell to 6.64% from 6.65% yesterday. One week ago, the 30-year fixed was 6.76%.
On a 30-year fixed mortgage, the APR is 6.66%, the same as it was last week. APR, or annual percentage rate, includes a loan’s interest rate and a loan’s finance charges. It’s the all-in cost of your loan.
According to the Forbes Advisor mortgage calculator, homebuyers with a 30-year fixed-rate mortgage of 100,000 will pay $642 per month in principal and interest (taxes and fees not included) at today’s interest rate of 6.64%. You’d pay about $130,941 in total interest over the life of the loan." (source: forbes.com)
The rates found above are from September 13th and are subject to change. Use our loan calculator tool to determine your estimated monthly payments for different loan amounts, interest rates, and term lengths.
15-Year Mortgage Interest Rates
"Today’s 15-year mortgage (fixed-rate) is 5.76%, down 0.18 percentage point from the previous week. The same time last week, the 15-year, fixed-rate mortgage was at 5.94%.
The APR on a 15-year fixed is 5.79%. It was the same last week.
A 15-year, fixed-rate mortgage with today’s interest rate of 5.76% will cost $831 per month in principal and interest on a $100,000 mortgage (not including taxes and insurance). In this scenario, borrowers would pay approximately $49,522 in total interest." (source: forbes.com)
The rates found above are from September 13th and are subject to change. Use our loan calculator tool to determine your estimated monthly payments for different loan amounts, interest rates, and term lengths.
Realtor.com Freddie Mac Updates
"The Freddie Mac rate for a 30-year mortgage fell 15 basis points to 6.2% this week, reaching the lowest level since February 2023 as incoming economic data tracked with expectations. The August jobs report showed that the U.S. added 142,000 net new jobs in the month, up from July’s level, but still in line with the anticipated trend of slowing job growth. Likewise, the latest consumer price inflation data showed that annual price growth fell to the lowest level (2.5%) since February 2021 in August. Cooling employment and inflation both came in near their anticipated levels, solidifying the Fed’s path toward a rate cut in next week’s meeting." (source: realtor.com)
At an interest rate of 6.20%, a 30-year fixed-rate mortgage is estimated to cost $1,088 per month in principal and interest, private mortgage insurance, and property taxes and insurance for a loan of $100,000. (source: My Home by Freddie Mac)
The rates found above are from September 12th and are subject to change. Use our loan calculator tool to determine your estimated monthly payments for different loan amounts, interest rates, and term lengths.
Need a loan officer?
Visit our Find a Loan Officer page to find a loan officer near you!
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