Real Estate Realities:

…Tales from the front line of buying and selling San Francisco real estate

Bay Area Mortgage Rates

Last year was an amazing year for mortgage rates. This year is even better. Of course, this means a continuing sluggish national economy but locally, the market is stable and improving. Hey, it’s true! Ask you techie friends?

Check out the average interest rate on a conforming 30 year fixed interest rate home loan over the past 3+ decades.

1981 = 18.45%

1991 = 9%

2001 = 7%

October 2010 = 4.25%

November 2011 = 4%

2012 = ?

Q: Who should act in today’s housing market?

A: First time buyers…with stable employment, “trade-up” or “trade-out” buyers (buyers who are also sellers), and financially distressed homeowners who need to lower their overhead.

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