For the past several weeks, mortgage rates have been some of the lowest they’ve been all year. But what does the future hold for interest rates, and how will that affect new South Bay buyers? Just they did with 2014, economists predict that 2015 rates will go into the 5% range for 30-year fixed-rate mortgages. Right now, the average is
At the beginning of 2014, financial experts predicted rising interest rates well into the 5% range. Their predictions haven’t come true, thankfully, and mortgage rates are still in the low to mid 4% range and mortgages are very affordable. Why were these predictions made, and why haven’t they come true? Well, because the Federal Reserve was going to slowly stop
You may not know this, but we are entering into what may be the best time to buy property in the South Bay in 2014. Interest rates have stayed low, allowing more people than anticipated to participate in the real estate market out here in the Beach Cities of Hermosa Beach, Redondo Beach, and Manhattan Beach. It was predicted by
We all know that a lower credit score is never a good thing, especially when you’re trying to buy a home. Interest rates can be higher, and loan amounts can be smaller, when you have poor credit ratings. But did you know that your credit score can also affect other aspects of your real estate transaction? Many buyers don’t know
Millenials have unique mortgage needs. In case you aren’t one, or don’t know what they are, a “millennial” is the generation born between 1980 and 2000; a generation that has come of age with digital technology and that, unfortunately, inherited a recession in 2008. Most millennials face dimmer job prospects than the generations before them and most have the unique
With mortgage rates so consistently low, it isn’t surprising that so many property owners are turning to refinancing. South bay home owners may find that they enjoy their neighborhood, like their property, and don’t want to sell, but see that current mortgage rates are much lower than the one they originally obtained. Refinancing your South Bay home just makes sense
Some real estate agents and other real estate professionals are a bit concerned about why so few people are willing to sell their South bay luxury properties right now. There are so many buyers, but not enough homes to accommodate them all. Home price appreciation has slowed down to a comfortable, uphill crawl, so why aren’t homeowners taking advantage of
While it may seem like a no-brainer that low interest rates are always a good thing, for the overall health of the real estate market, they aren’t always. Right now, mortgage rates are at near historic lows. That’s great for new home owners and those looking to buy right now – but in the long run, low interest rates could
While we’ve all been hearing, for the past year, how high interest rates are going to go in 2014, and how by the end of 2014 they’ll be in the 5% range. Well, reality seems to be a bit different as interest rates are now lower than they were last year. One year ago in June/July 2013, the Federal reserve had
For the second week in a row, the average rate for a 30-year fixed mortgage was up. This week, the average is 4.2%, while last week it was around 4.14%. 15-years are up, too. It was exciting when rates dropped for five weeks in a row starting in May 2014, but now it seems that rates are on there way back
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