Bay area mortgage rates continue to bounce around all time lows and now continues to be an amazing time to buy or refinance your bay area real estate.
People often ask me if they should wait or take advantage of what is going on in the marketplace right now… Well it is impossible to tell for sure when bay area mortgage rates will go up but hindsight is always 20/20 right?
Today’s chart shows that bay area mortgage rates may either bounce of 30 day average and gain some short term upward momentum.
Most bay area mortgage brokers that I speak with see that trends are pointing to a flat trend and we likely won’t see any huge swings in bay area mortgage rates until after the elections and it becomes more clear how the federal tax policies will effect Americans and the stock market.
One thing for sure is that a huge spike in bay area mortgage rates would be a very bad sign for mortgage brokers and the consumers in the bay area real estate market that are looking to buy real estate or possibly refinance their current mortgage loan.
A large upward spike in bay area mortgage rates would likely depress bay area real estate prices and push many who have recently bought under water on their equity.
If you have any specific questions on bay area real estate and mortgage rates reach out to us today and ask us some questions?
About Jason Wheeler - Real Estate & Lending
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