Interest Rates Take a Dip in Hot Real Estate Market

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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