Interest Rates Take a Dip in Hot Real Estate Market

Interest Rates Take a Dip in Hot Real Estate Market 1

Now is the time to invest in real estate according to many financial sources. Interest rates are at their lowest in 10 years so here’s your chance to scoop up a property! We all know that Los Angeles is a hot real estate market and according to Union Bank and their graphic we’ve posted here, California as a whole is hot! Not only that, it’s looking like many are investing in most of the country.

For those looking at loans, going with a 30 year fixed mortgage rate is the ideal and currently they are at an average of 4.06% this week, per Freddie Mac (the Fed’s home mortgage corp). This is making the purchase of real estate more of a reality for many. “This is the perfect timing for this decrease in rates as spring is here and summer is quickly approaching; the time of year when most people want to search out for properties,” said Yvonne Arias owner and broker of The Property Lab. Whether you’re looking for a starter home, a rental property, or a luxury property all your own, contact us to guide you the process.

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