I was reading this article from www.cnnmoney.com that I thought I'd share with you guys. It says that the mortgage loan rate is currently about 5.1% (Please check out the link on the bottom of this page)
I have a lot of my buyers that are taking advantage of not only the low interest rate but also the great deals that we are finding right now.
A couple of years ago, I had buyers that avoided Chula Vista (Otay Ranch or Eastlake area) because they thought it was "impossible" to buy a house there because the prices were ridiculously high. Now, most of my buyers ONLY want to look in those same areas, why? Because now for only $350,000 they can finally have their "dream home". I also have buyers that moved out of San Diego a couple of years ago because they couldn't afford to buy here and now they are calling me to find them a great deal.
I personally think that San Diego is the place to be. I love it here, you can do so many things. Everything is literally "close by". If you want to go the the beach, only 20 minutes away. If you want to go to the mountains, maybe around 45 minutes away. You want to take the kids to amusement parks, there are several you can easily go to. AND should I even mention the weather!!! I think you already know.
If you ask me, should I buy right now in San Diego? My answer is "Why wouldn't you"
Mortgage Rates Hit New Low!
