Interest Rates at Record Lows and Home Prices Rising
Article by Dennis Black of US Lending Company
Mortgage interest rates remain at record lows while home prices are stating to rise for the first time in five years. We have been seeing multiple offers and bids for over asking price on homes that are priced right. We have also seen appraisers commenting that the home is in a stabilizing market throughout most of California.
Nationwide, home values rose 0.2% year-over-year to a median $149,300 during the second quarter, the first annual increase since 2007. Prices were up 2.1% from the first quarter.
First time home buyers and investors have flooded the market. Many owners have been able to drastically lower there monthly payment by taking advantage of the historically low interest rates. Depending on loan to value and credit score a no cost refinance is an option.
About the Author
Dennis and Diane Black have been Mortgage Bankers or Brokers exclusively since 1993 and have over 69 combined years in Real Estate related professions. We help people with purchase and refinance home loans anywhere in California and some other states. Our goal is to help you meet your goals and wow you with our service so that you become a client for life.