What does that mean?
MORTGAGE RATES FALLING
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Interest rates for a 30-year fixed mortgage average dropped 3.5% percent in the week ended today, down from 3.57 percent, according to Freddie Mac (FMCC) . The average 15-year rate slipped to 2.74 percent from 2.76 percent.
CORELOGIC reports U.S. home prices rose 10.2 percent in February from a year earlier, the most since March 2006. March 2013 was the 12th consecutive month of gains as low borrowing costs drove demand with no inventory for residential real estate i.e.: few homes on the market almost Nationwide. Seems everyone is waiting for the happy days to be here again. With mortgage rates taking a dip in California it is expected to heat the market higher.
Values in Newport Beach, Laguna Beach, Laguna Niguel, Dana Point and Huntington Beach have climbed higher in year-on-year than the national average, almost 18% increase. Orange County to take off like a rocket?
