Bay Area Real Estate: Mortgage Rates Dip
Finally... Mortgage rates pulled back a bit last week after rising, or breaking even for the past 11 consecutive weeks.
Holden Lewis from Bankrate has the breakdown.
The recent rise in mortgage rates has been one of the factors in the recent cooldown in the housing market. As I detailed in this earlier post, rising interest rates can have a great effect on a buyer's purchasing power, which in turn could leave a lot of sellers disappointed in the returns from the sale of their property.
The numbers are still pointing towards a healthy local housing market. I'll have the exact, updated numbers for you on Wednesday.
Here's Morsa Aziz, she's our in-house mortgage broker/Jedi. If you're thinking about purchasing a piece of property and want to talk to a good lender. I'd recommend giving her a call. Her direct line is 510.528.4546 and her email is firstname.lastname@example.org