Mortgage Rates Off Record Lows

Thanks to the hot Orange County real estate market and historically low interest rates, home buyers in Orange County have never had a better time to buy a home in Orange County than right now. It’s looking like the window of opportunity for ultra-low interest rates may slowly beginning to pass.

Freddie Mac News 

Last week Freddie Mac released their weekly survey and announced that the
30-year fixed rate loan’s interest rate rose to 3.39 percent. Although this is just
an increase of .07 percent, it’s a sign that interest rates wont stay at their all-time-
low forever.

Besides the slight rise in the interest rate for a 30-year mortgage loan, the interest rate for a 15-year-loan also rose slightly to 2.70 percent, from 2.69. The five-year ARM also saw a slight increase to 2.73 percent, from 2.72 percent.

The Real Bottom Line

What does this mean for people in Orange County who are interested in buying a new home? The answer is simple, it’s time to take advantage of mortgage loan interest rates, while they are still historically low.

Home Prices Up Across Orange County

In other Orange County real estate news, a report was published recently in the OC Register which shows that home values are up across Orange County, especially in six Orange County zip codes that have properties which are valued over $1 million. The most expensive Orange County zip code to live in is 92652, Newport Coast, where homes have an average selling price of over $2 million dollars.

Don’t waste another month waiting to buy an Orange County home, contact the experienced team of top Orange County realtors at Fred Sed & Associates today at (949) 272-0125 for help with finding the home of your dreams.

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