According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at their lowest for 2019. Rates like these haven’t been seen since February 2018!
Last week’s survey results reported an interest rate of 4.35%. This is a welcome change from the near 5% rates seen in mid-November. At 4.32%, the second week of February 2018 was the last time rates were this low. This can be seen in the chart below.
Freddie Mac’s Chief Economist, Sam Khater, had this to say:
“Mortgage rates fell for the third consecutive week, continuing the general downward trend that began late last year.
Wages are growing on par with home prices for the first time in years, and with more inventory available, spring home sales should help the market begin to recover from the malaise of the last few months.”
If you plan on buying a home this spring, meet with a local real estate professional who can help prepare you for today’s market before rates increase!
SOURCE: Simplifying the Market
Purchasing or selling a home is an exciting and life changing experience, therefore it is important to choose the best Realtor to guide you through the journey. Beverly Tate is that right choice, one who you can trust and who will have your best interest in mind. She has the experience to negotiate on your behalf and guide you through the complex process of purchasing or selling a home.
Beverly is an active member of her community, living and raising a family in San Diego since 1993. She has been a licensed professional Realtor since 2003 so you can feel confident in her ability and experience serving the San Diego neighborhood.
Beverly’s past experience includes earning the 4S Ranch Office Rookie of the Year, her first year in business, and earning distinguished sales awards thereafter. In addition to ongoing education in the real estate field, she completed advanced education to earn the distinguished GRI designation, held by less than 6% of Realtors in California. Beverly places her client’s best interest as her highest priority.
If you have any questions about current market conditions, need a referral for a service, or want to chat about your home, feel free to contact Beverly. She would love to help you with your real estate sale or purchase. She looks forward to hearing from you and providing excellent personal service.