Each week the Dalzell Group provides you with a mortgage market update for the San Diego real estate market. Whether you’re looking to buy a condo in Carmel Valley or a luxury estate in Rancho Santa Fe, check back frequently to get the latest mortgage news.
October 14, 2009 – We are in the middle of earnings season for the stock market and that means that bond prices and mortage rates are being directly affected. Just today there has been positive earnings announcements from Intel and JP Morgan and that is sending stocks higher, dropping bond prices and that means interest rates are rising. An improving economy and inevitable inflation will cause rates to rise for buyers looking for Carmel Valley, San Diego homes for sale. There is no disputing that inflation will causes rates to rise so if you’re looking to buy a San Diego house in the near future, now is the time to make a move.
This week the hot topic in Washington has been the debate over extending the First Time Homebuyer tax credit. According to a Marketwatch article, there is positive momentum suggesting that the credit will be extended and possibly even expanded for higher income brackets. While this is good news for the San Diego real estate market and those looking to buy homes in Carmel Valley, Del Mar and Rancho Santa Fe, it will not stop the rise of interest rates which makes San Diego homes less affordable.
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Loans Under $417,000 | |||
| Description | Rate | Points | APR | |
| 30 Year Fixed | 4.875% | 1.00% | 5.253% | |
| 5 Year Fixed | 3.500% | 1.00% | 3.878% | |
| New Conforming Loans | Loans Between $417,000- $697,500 | |||
| Description | Rate | Points | APR | |
| 30 Year Fixed | 5.000% | 1.00% | 5.378% | |
| 5 Year Fixed | 3.875% | 1.00% | 4.253% | |
| Non- Conforming Loans | Loans over $697,500 | |||
| Description | Rate | Points | APR | |
| 30 Year Fixed | 6.500% | 1.00% | 6.878% | |
| 5 Year Interest Only | 5.000% | 1.00% | 5.378% | |
| FHA Conforming Loans | Loans Under $417,000 | |||
| Description | Rate | Points | APR | |
| 30 Year Fixed | 5.000% | 1.00% | 5.378% | |
| FHA Conforming Loans | Loans Between $417,000-$697,500 | |||
| Description | Rate | Points | APR | |
| 30 Year Fixed | 5.250% | 1.00% | 5.628% | |
For a referral list of trusted and proven mortgage professionals call the Dalzell Group at (858) 755-7740.
