Durante & Rich Real Estate San Diego

Interest rates for a 30-year fixed rate mortgage climbed consistently throughout 2018 until the middle of November. After that point, rates returned to levels that we saw in August to close out the year at 4.55%, according to Freddie Mac’s Primary Mortgage Market Survey. After the first week of 2019, rates have continued their downward trend. As Freddie Mac’s Chief Economist Sam Khater notes, this is great news for homebuyers. He states, Mortgage rates declined to start the ...new year with the 30-year fixed-rate mortgage dipping to 4.51 percent. Low mortgage rates combined with decelerating home price growth should get prospective homebuyers excited to buy. In some areas of the country, the combination of rising interest rates and rising home prices had made some first-time buyers push pause on their home searches. But with more inventory coming to market, continued price growth, and interest rates slowing, this is a great time to get back in the market! Will This Trend Continue? According to the latest forecasts from Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors, mortgage rates will increase over the course of 2019, but not at the same pace they did in 2018. You can see the forecasts broken down by quarter below. Bottom Line Even a small increase (or decrease) in interest rates can impact your monthly housing cost. If buying a home in 2019 is on your short list of goals to achieve, let’s get together to find out if you are able to today.

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While most of the media will report that the Federal Reserve raised "rates" today, here's what REALLY happened when it comes to your mortgage rate:

National home prices have increased by 5.4% since this time last year. Over that same time period, interest rates have remained near historic lows which has allowed many buyers to enter the market and lock in low rates. As a seller, you will likely be most concerned about ‘short-term price’ where home values are headed over the next six months. As a buyer, however, you must not be concerned about price but instead about the ‘long-term cost’ of the home. The Mortgage Bankers... Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Insights Report, home prices will appreciate by 4.8% over the next 12 months. What Does This Mean as a Buyer? If home prices appreciate by 4.8% over the next twelve months as predicted by CoreLogic, here is a simple demonstration of the impact that an increase in interest rate would have on the mortgage payment of a home selling for approximately $250,000 today: Bottom Line If buying a home is in your plan for this year, doing it sooner rather than later could save you thousands of dollars over the terms of your loan.

Updated 2 Bedroom Condo in ARTESIA EL CAJON for Rent! Pets Welcome! Available Now!!!! Super Clean and Large Upstairs Unit!!! Note small breed dogs are considered to be Pomeranian, Shih Tzu, Yorkie, etc. Not Section 8 Approved. ... Completely updated 2 bedroom 2 bathroom condo available. Stainless steel appliances, upgraded cabinets, granite counters. Living area has newer carpet, decorative ceiling fan, and access to the balcony. Both bedrooms are large with new carpeting, and mirrored closet doors. Master bedroom features a private in-suite bathroom. Both bathrooms have granite counters, silver finishings, and decorative vanity lights. Washer/Dryer in unit! New paint throughout!! Community features a gated entrance, large pool, outdoor eating area with stainless steel grills, and clubhouse. Apply now at www.duranterichsd.com. Durante and Rich Real Estate Michelle Noll CAL BRE# 01465695 Amenities Gated Community Community Pool Outdoor Grills Outdoor Eating Area Clubhouse Central AC Spa/Hot Tub Exercise Room Rental Terms Rent: $1,695 Application Fee: $39 Security Deposit: $1,695 Available Now Pet Policy Cats allowed Small dogs allowed