The Latest From Here:
Impossible as it may seem (I mean, How much lower can they go?!), mortgage rates dropped again this past week to, as always lately, a new record low! In an announcement made this morning, the rate for a 30 year fixed loan dropped to 2.94%! Hell, that's almost having the bank pay you to borrow, rather than the usual other way around. In case that's not low enough for you, fifteen year money is now at a fixed rate of 2.34%. So, what does that mean, aside from the obvious fact that money is still getting cheaper? Well, as I've said many times here previously, if you are a buyer, it can't be a better time to ratchet up your hunt for the perfect home! I mean, these rates can't go on forever! Cheaper money means either you buy your home for a lot lower monthly payment, OR, you can buy more house for the same amount of money that you previously were willing to pay. Suddenly, that extra bedroom or bath or a large family room is no longer a fantasy to be put off!
If you're a Seller, what better time to get your home on the market to take advantage of the increased ability of Buyers to buy your home? More buyers can also mean multiple offers and the resulting possibility of a higher selling price.
Got you thinking? Than pick up the phone, or fire up your computer, and get in touch with us! Email: pjrichmond@pacunion.com  .  Tel: (415) 531-4091 (Jane) or (415) 279-6466 (Peter). Don't wait!