Interest Rates in San Diego Today

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In December, the Fed increased interest rates. This directly impacts different types of loans, including those for cars and credit cards. However, we’ve experienced five weeks of interest rates slowly decreasing. This is great for buyers, since they’re facing lower rates. Likewise, this presents an opportunity for sellers to catch those buyers.

Rates rest at just below 4% for thirty-year fixed mortgages. This is still historically low. Additionally, for VA and FHA loans, rates fall right under 3.5%. That’s lower than student loans right now! If you qualify for a government-backed loan, this is an excellent opportunity to take advantage of.

Don’t read the hype in the news. Although hikes have been reported in the media, we’ve seen the opposite happen; we’ve seen rates decrease. The San Diego housing market is in a fabulous place with low rates. If you’d like more insight on this topic or the market today in our area, feel free to reach out by phone or email today! I’d be happy to help.

Avoid These Mistakes When Buying a Home

Selling your San Diego home? Free home value report right here
 Purchasing a San Diego home? Click here for full MLS access

If you're planning on buying a home, there are a few things you need to do in order to get results.

Get a full approval. Get your credit pulled before beginning your search. Get any disputes fixed and off your credit report. Tackle these things ahead of time. Be proactive.

Get a home inspection. This could cause headaches later. However, an inspector notices things you won’t be able to. Don’t underestimate the value of hiring an inspector ahead of time.

Ask for cover letters from agents. Before you hire an agent, get to know them.

Choose the right Realtor. Work with someone who understands the process fully. They should be available for you when you want to look at homes in person. You’ll likely face multiple offer situation. It’s important to work with someone that’s experienced and eager to work for you.

If you have any real estate questions or concerns, please call or email me!

Are Interest Rates Already Rising in San Diego?

Selling your San Diego home? Free home value report right here
 Purchasing a San Diego home? Click here for full MLS access

Everyone is talking about what will happen if interest rates rise, but are they due to rise soon? What can we expect from rates moving forward?

Over the past few years, we've seen significant job growth across the nation. This good news has resulted in a slight uptick in rates, but not really enough to have any real effect on you. Know that what you hear on the news is often unrelated to what's actually happening in the world of real estate. The last rise in interest rates was less than .125%, so you don't have anything to worry about if you plan on buying.

Although rates are great right now, we recommend keeping a close eye on the market. The Fed meets again in December when they'll talk about whether rates should be raised or left alone. That meeting is the one that will set expectations for rates in 2016. We'll keep you updated on what they decide.

If you have any questions about real estate or loans, or if you want to meet up with a reputable lender to discuss your options, please don't hesitate to reach out to us. We would love to hear from you!