Mortgage Rates Staying Down is Excellent 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

Professional real estate representative, Realtor agent, GRI, Broker associate, Evergreen Realty HomeSmart, Orange County, California – CALBRE #01410855 – Serving property owners, estate trustees, executors and administrators, fiduciaries, bankers, investor group managers, with listing and sale of properties – helping people with their best decisions about homes and real estate – Orange County Association of REALTORs, member and prior service on its board of directors for 2012; California Association of Realtors, member and now serving on its board of directors – Also an attorney member of the California State Bar Association #69137 – Contact by telephone or text at 949-701-2515

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