Prices see increase, Pending Sales reach 3 year high
California home prices rose in March for the first time in 16 months. California Pending Sales are currently at a 3 year high. With rates still low it’s a great time to buy. Please call or email for any info or assistance.
Rates hit new low
Mortgage rates fall to new low, 3.87% average, for 30-year fixed rate according to new Freddie Mac survey
Mortgage Rates
Here are this week mortgage rates from Wells Fargo…
Conforming and FHA Loans30-Year Fixed 4.000% 30-Year Fixed FHA 3.750% 5-Year Fixed 3.250% 5-Year ARM 2.250% 5-Year ARM FHA 2.750% Larger Loan Amounts in Eligible Areas Conforming and FHA. 30-Year Fixed 4.000% 30-Year Fixed FHA 3.750% 3-Year ARM 2.500% Jumbo Loans – Amounts that exceed conforming loan limits. 30-Year Fixed 4.250% Year ARM 2.500%Mortgage Rates dip lower
Today’s Mortgage Rates:
30yr – 3.85%
FHA 30 yr – 3.75%
Foreclosures see increase in August. Rates still low
In a sign lenders may be starting to push through more foreclosures, California had a 55% increase in notice of default filings in August. Lenders had been delayed on many foreclosure filings due to robo-signing and documentation problems.
Default notices rose to a nine month high to 78,880 in August.
228,098 properties received foreclosure filings nationwide in August.
As the foreclosures start hitting the market it should increase the amount of deals home buyers are able to get. And with loan rates still near historic lows it makes it an awesome time to buy for those ready.
Latest rates:
30yr – 4.18%
FHA 30yr – 3.84%
Today’s Rates
Mortgage Rates:
30YR-4.22%
15YR-3.61%
FHA30YR-4.09%
Jumbo30YR-4.74%
5/1ARM-3.26%
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