Mortgage Rates Staying Down is Huge News For Home Buyers at Orange County CA

Purchase money lending

Fantastic news for homebuyers is that home loan mortgage rates at Orange County CA went down big-time during 2014 and have stayed down.

4.5% was the average rate on a 30-year fixed loan offered by lenders one year ago today –  see article from that time –Mortgage rate watch report for December 28, 2013.

Average payment on a $417k conforming loan one year ago was $2,113 per month.

3.75% is the average rate offered by lenders on a 30-year fixed loan at Orange County today on December 29, 2014 (for those who qualify) –  see article –Mortgage rate watch report for December 28, 2014.

Average payment on that same $417k loan is now $1,930 per month (for those who qualify).

So a monthly payment on that $417k loan now will save a homebuyer $183 per month as compared with same time last year.

What this means is that prospective homebuyers should get organized, qualified or pre-approved with a lender, and move forward with decisions to buy now!

Coldwell Banker residential brokerage

 

 

By Harrison K. Long, Realtor, real estate broker, and professional real estate representative at Orange County CA.    

Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.  Contact us at 949-854-7747 with your questions about home prices and values at Orange County CA cities and areas with Home Selling and Real Estate market updates.

About Harrison K. Long

Real estate and business attorney. CA State Bar Association attorney member #69137. Professional real estate representative, REALTOR®, GRI, Real estate broker, CALBRE #01410855. Broker associate, HomeSmart Evergreen Realty, Irvine, CA. Providing real estate legal information and services for property owners, estate trustees, executors and administrators, fiduciaries, bankers, investor group managers, with their best decisions about homes and real estate. Orange County REALTORs® (member and prior service on its board of directors). "Realtor of the Year 2016" award by the Orange County REALTORs®. California Association of REALTORs® (now serving on its board of directors). National Association of REALTORs® member. Contact by cell or or text at 949-701-2515.
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