Words Won't Suffice!:
Every week that goes by, I figure this is the ultimate bottom on rates and then next week comes to prove me wrong! We hit new lows the past few weeks and yet rates announced yesterday once again show that there was yet more room to move down. Couple this with the recent Case-Shiller report that showed the Bay Area's price increases as the largest of any area in the US, and you have a continuation of the best of tine for buyers and sellers to jump on the bandwagon.
First, rates: a new record low for both 30 and 15 year fixed loans. the 30 year dropped to 3.56%, and no, that's not a typo. We're so far into down, I expect to turn around in my office and see stalactites growing any second! If that rate isn't low enough for you, try the 15 year rate: 2.86%! Amazing! Great if you're a buyer; also great for sellers as more folks can afford to buy your home. Speaking of sellers, the rising of prices, coupled with these low rates make it a better time than any time in the past four or five years to put your home on the market. Just make sure it's ready to go to get top dollar. Unsure? Call us for advice. Peter: (415) 279-6466 or Jane: (415) 531-4091.