Today’s mortgage rates are great for buyers looking for homes in Santa Barbara, Montecito, Hope Ranch, Goleta and the surrounding areas. This past week rates dropped once again to historic lows, averaging 3.79% for a traditional 30 year fixed rate loan. These low rates offer an exceptional opportunity for borrowers with great credit. In many cases it may be cheaper to own a home than paying rent in the Santa Barbara area.
Economic news has been much brighter of late, with consumer confidence up, housing starts better than expected, and many real estate markets including the Santa Barbara real estate market are on the upswing, which has many people wondering why rates are still dropping. The global economy is still on shaky ground and fears about recovery are present, causing rates to drop.
Of course real estate still has a long way to go also and these low rates are helping to attract investors by adding to exceptional affordability levels. Low mortgage rates can save homeowners a great deal of money over the lifetime of a loan.
Buyers who have been waiting on the sidelines are reaping the rewards as many markets appear to have hit bottom. Contact me today for recommendations on lenders and how you can take advantage of today’s conditions – firstname.lastname@example.org
Whether you are looking for a primary residence, a vacation home, a luxury estate, or an investment property in a resort area Santa Barbara and Montecito offer a diverse selection of properties – to view Santa Barbara homes for sale click here, to view Montecito Estates for sale click here or go to www.SantaBarbaraRE.com to search properties for sale in all areas of Santa Barbara.
Click here to read “Fixed Mortgage Rates Hit Record Lows Again” from Realty Times.