Some Great News!

The average interest rate on a 30-year, fixed-rate mortgage dropped to 5.14% last week to a new record low, according to Freddie Mac. A year ago, the rate was 6.17% for a comparable loan. As a result, mortgage applications last week jumped to the highest level in five years, with more than 80% of the applications for refinancings. There also was an 11% increase in applications for home purchase loans.

Bottom line: Low mortgage interest rates + Declining home prices = Excellent home buying opportunities!

So, please feel free to call us if you’d like any lender recommendations — we know some of the best in the business. They can help you to refinance, or to qualify for a new loan.

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Altadena Real Estate

Steve & Lisa Haussler

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