Interest Rate Update

Interest Rate Update

Interest rates are still looking good. The experts feel the Federal Reserve will hold off any in-terest rate raise until next year

New Home Price Numbers Just Out

I have been saying for years that the best way to get (and keep) the housing market moving up-wards is to get the media involved as a cheerleader. For almost a year now the Orange County Register has been reporting how real estate is back and booming in the Orange County area. Another example is in today’s Register. The front page has a blip about the median home price and the Business section has a big article. The median priced home in Orange County is now back up to $629,500!! That is just below the record high of $645,000 reached in June of 2007.

How Does This Affect You ?

I have talked to several buyers who are "waiting" for prices to ease. I don’t see that happening anytime soon. Prices should begin to level off a bit but I would bet that prices continue to move upwards for several years. The Federal Reserve was set to start increasing interest rates but re-cent economic data and world events have caused a change in tone from the Feds who now see an increase either late this year or possibly into 2016. All good news. Pass this along and lets all have fun while the ride lasts.

30 Year Fixed up to $417,000	3.75% to 4.125%
30 Year Fixed "Agency" up to $625,500	3.875% to 4.25%
30 Year Fixed FHA up to $417,000	3.50% to 3.75%
30 Year Fixed FHA "Jumbo" up to $729,500	3.625% to 3.875%