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.