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California Home Loan Rates 03-11-2019

by Kevin O'Connor Helping Homeowners Achieve Their Dreams

California Home Loan Rates Today:

Mortgage rates are starting out the week at similar levels seen last week. The 10y Treasury yield started the day at 2.64% and after this mornings better than expected Retail Sales report it continued to trade at that level throughout the rest of the day. In California the 30 year fixed mortgage rate and the 15 year fixed mortgage rate are the two most aggressive programs right now. 

So far in 2019, California home loan rates are some of the most competitive home loan rates in the country. 30 year fixed conforming rates are below 4.50% and 15 year fixed conforming rates are below 4.00% (primary residence, no cash out, excellent credit and a LTV below 75%). California was not always one of the most competitive states when it comes to mortgage rates. In fact it used to be one of the highest states in the country along with Arizona and Florida. 

As a result of the 2008 financial crisis and the high number of foreclosures; mortgage rates in California were typically higher than the rest of the country.

Refinancing Your Current Mortgage:

Have you noticed home loan rates are lower than your current mortgage rate? Or do you need cash out to help renovate your home and/or payoff some bills? Maybe you want to move from a 30 year fixed rate to a 15 year fixed rate? 

Whatever the reason is right now is one of the best times in nearly a year to do a refinance. California refinance rates have moved down to near their one year lows and the big question is this: Will home loan rates continue to be this low, move lower or possibly move significantly higher? It's almost impossible to say what mortgage rates will do a week or month from now so that's why it's important to focus on what's available now and does it provide a benefit to you. 

Trying to pick the "bottom" in mortgage rates is a difficult thing to do (at best). Many times home owners want to wait to move forward however they end up missing out on a good rate that would put them in a better financial situation. If you are looking to refinance your current mortgage it's important to be realistic and if what's currently available puts you in a better financial situation then strongly consider moving forward now rather than later. 

For those that are moving from a 30 year fixed rate to a 15 year fixed rate; make sure you can afford the higher payment and that you won't be under pressure with the new loan.

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About Kevin O'Connor Junior   Helping Homeowners Achieve Their Dreams

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Joined APSense since, January 27th, 2019, From Riverside, United States.

Created on Mar 11th 2019 14:48. Viewed 323 times.

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