Southern California Greeks capitalize on record low interest rates

According to Bloomberg and Orange County Mortgage, the U.S. mortgage rates have fallen to their lowest rates in over four decades.  Although many people aren’t taking advantage, the Greek community is cashing in.

IJR NEWS (International Journalism Review, IJR 10/92011)) journalist Angela Christou has been a culture liaison for the Greek community for almost two decades.  In fact, Christou makes it a habit of educating her fellow Greeks everywhere from the Greek Orthodox Mission of South Orange County to the OC Greek Food Festival about trends in business and economics that can affect this proud community.

Recently we interviewed our own journalist about the connection with interest rates, and Angela told us this, “I am obviously not even in the loan business, however, once in a lifetime a person might experience this kind of opportunity.  We have one of the best Greek loan officers (Ted Glavas)  here in Orange County that can not only relate to our culture, but is someone we can depend on and trust when it comes to using the leverage of home ownership.  Capturing the American dream is becoming possible again, and those in our community that already own homes can take advantage of refinancing at lifelong lows.”

Christou told IJR NEWS that the Greek culture loves many things but they all focus around the family being the center, whether it be the Greek Orthodox Church, dancing, or their passion of good food.  This culture naturally embraces home ownership as it is a natural center for this cultural history.

IJR  contacted Ted Glavas,, who told us this, “It’s funny I have been a people person my whole life, it is in a sense a Greek custom, however, I have never real focused on the Greek community for my livelihood.  Being a mortgage broker for many years and weathering the economic storm of the last four years has tested my commitment to this industry.  Lately, I have discovered that more and more of my business has actually involved Greek people.  Although my clients range from a variety of backgrounds, it is fun to cater to the Greek community in a area where I have immense command of the subject matter to help make sound financial decisions for them.”

IJR found very few search results for Greek loan officers in the Southern California area, however, Glavas did say (with a chuckle) that his partner, Dino Katsiametis, was also a very knowledgeable loan broker and was a fellow Greek as well. However, as it relates to being able to recall a Greek name, his was easier to remember.

As the U.S. housing market transcends into a buyer’s market, many people will sit and wait.  Perhaps it’s because in hindsight people in general fear the future based on the aftermath of this economic disaster. However, hindsight also tells us that The Trojan War Ended With a Gift — A Wooden Horse, maybe our economy trouble also can end with a gift?  But as the story suggest, many people might be unaware of the gifts power (all-time lowest mortgage rates) and choose to ignore it. Timing is everything, and maybe the story of Troy can be our inspiration for other paths of victory.

Valentine Christian / IJR News Senior Journalist


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