Mortgage rates continue to climb. We're now up to 4.66% with .4 pt on a 30 year mortgage. It seems the only way to make things more affordable is to build more homes for Californians. #bayarea
If you're on the fence about getting prequalified to purchase a home, you might want to hurry before rates push you out of the running. Read my blog about how rising mortgage interest rates could affect your ability to purchase a home. Click here: Interest Rate Impact on Purchasing a Home
U.S. weekly averages as of 05/24/2018
Calif. highest median home price by region/county: San Francisco, $1,650,000
Calif. lowest median home price by region/county: Lassen, $155,500
California Association of Realtors - Talking Points
- Mortgage application volume fell 2.7 percent last week, according to the Mortgage Bankers Association's seasonally adjusted report.
- Volume was 4.5 percent lower than a year ago.
- The weakness was most pronounced in applications to refinance a home loan. That volume fell 4 percent to its lowest level since August 2008. Refinance volume is off nearly 17 percent from a year ago, when interest rates were lower.