Sacramento Real Estate Views

Sacramento Mortgage Rate Watch

Interest Rates Jump to Highest Level Since December

According the the FreddieMac Mortgage Survey, the average interest rate on a 30 year fixed rate mortgage increased this week from 4.91% to in 5.25% (West) in response to increasing bond yields. Rates are now at 25 week highs.  One year ago, rates were at 6.09%.

While even 6.09% is low, wouldn’t be nice to lock in at a lower rate?  Most people think so.

What Will Interest Rates Do Next?

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Tags: mortgage rates sacramento

If You Don’t Buy Soon, In 5 Years You’ll Wish You Had

Rates Are LOW and Values May Not Get Much Lower!

Freddie Mac reported today that mortgage rates have edged up this week from last week’s reported 4.82%  to 4.91% this week..WOW..what an increase! Last year at this time the average mortgage rate was 6.08%.

Rates are still so low that it’s hard to imagine a time when they were 15% to 18% but that’s what they were just a scant 20 years ago.  Can they go back up to those levels?  That’s a great question that no one has an answer to.  That said, I’ve heard rumors that the mortgage rates can’t stay low like this forever and will go back up in the short term.  I heard that from a mortgage broker..now there’s a surprise! (you’ve probably heard the same rumor!)

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Tags: mortgage rates sacramento