Napa's Loan Ranger Chris Salese: A low home loan rate 'quote' or two

Napa's Loan Ranger Chris Salese: A low home loan rate 'quote' or two


Roses are red, violets are blue, rates might be low, but do they make sense for you?

Yes, I couldn’t help myself, especially before Valentine’s Day weekend.

The origin of “roses are red, violets are blue,” in terms of whether it’s a poem or a rhyme or both and who started it, may be a bit mysterious.

Either way, it’s arguably one of the most popular composition of words used in a stylistic way to express some sort of meaning.

In fact, I wrote out so many different versions of the above that this column could have gone in a variety of entertaining directions.

Finally, I decided to focus on home loan rates and the noise surrounding them now.

I’m sure you remember the iconic movie “Forrest Gump.”

And of course, the famous line: “Life was like a box of chocolates. You never know what you’re gonna get.”

I really couldn’t find a better quote to compare with home loan rates today. I know, this quote has been heavily used over the years and eventually made its way to the over-used side of the spectrum. Yet like “roses are red, violets are blue,” it won’t go away. It’s crazy how that works.

Going further, both the “box of chocolates” and “roses are red, violets are blue,” quotes have hidden meaning after hidden meaning associated with them.

This is what makes them special, catchy and used often. And guess what, it’s not any different than what you are seeing and hearing regarding recent home loan rates across all media platforms these days.

For example, you’re probably bombarded with ads for rates that are marketed to you with the words of “three-year lows” or “multi-year lows” or “near historic lows.”

I mean, my goodness, which low point is best?

Then you get “rates fall” or “rates are lower” or “rates drop” and it works you up into a frenzy.

Sooner or later you can’t take it anymore and you feel the pressure to act, correct? Well, don’t worry, you are not alone.

Unfortunately, or fortunately, depending on how you want to look at it, we are in and have been in a home loan rate environment that’s clearly “very low.”

One of the problems that consumers face under these types of conditions is the challenging task of knowing when to act and how to act on these rates.

Because each loan application is different from the next one, this then adds to the complications of trying to determine whether you fit into the interest rate box that’s being marketed to you today.

Until you walk through your entire home loan application with a licensed mortgage professional, you really won’t know if the media’s delayed published interest rate surveys are accurate or what loan products they are really attached to and if this interest rate craziness makes sense for you.

Take your time, look behind, look ahead and then perhaps capture the now.

Chris Salese can be reached at or 707-363-4439. He is a licensed California mortgage lender (LO NMLS #254469 — CA-DBO #254469 Corp NMLS #1850 Equal Housing Opportunity.

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