Whether you want to live amongst the stars in Hollywood, sample the finest wines in Napa, or go snowboarding in Tahoe with the Governator, the possibilities for Californication are endless, provided you are locked in with an ideal mortgage rate. But buyers beware, as the worst foreclosure crisis since the Great Depression drags down the National economy, the government is making only limited progress this year on proposals for sweeping changes in the home mortgage industry and rates. Therefore, finding the lowest mortgage rate possible has been made an absolute necessity and made easy with www.shoprate.com
Although this may be a daunting time to buy, and with California housing prices already touching the Stratosphere, there is relief for future California homeowners still searching for that low mortgage rate.
Recent statistics have shown that California homeowners pay their loans on time more reliably than homeowners in all other states but one -- high-cost, high inflation Hawaii. Even if you cannot obtain the ideal rate due to economic and fiscal restraints, buying a home in California can pay off dividends in the end as median home prices continue to climb, nearly 25.2% the previous year. Even if you miss out on the lowest rate found on Shoprate.com, you can still pay off that mortgage as the value of your future California home continues to rise!
On average, future California homeowners pay $3,022 for closing costs, $274 more than the national average of $2,748. Yet that extra cash may be worth it as Southern California’s very own Mission Viejo was recently named the “Safest City in America.” New families looking for a new home and an extra low mortgage rate
will do well by historical standards by locking in their rate for under 7% on a 30 Year Fixed Mortgage. Last week, the 15, 20, and 30, yes all three long-term fixed mortgage rates, declined to 5.88%, 6.29%, and 6.29% respectively. While the rest of the nation’s housing prices are on the deep decline, and with California’s housing prices on the increased incline, locking in on a low long-term fixed mortgage rate would be the investment opportunity of a lifetime, and every day not spent in sunny California is a lost investment opportunity as mortgage rates are prime for the picking, and as the tide is turning on the bottoming out on the National Housing Mortgage Rate Crisis, it’s time to go Hollywood!
If you need help with the mortgage process you can visit our Knowledge Center
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Before you buy a new house in California or refinance your existing home to a lower rate, it is advisable to compare the current mortgage rates offered by leading lenders in California. We've done extensive research to find top-rated lenders with competitive rates in California and last updated these rates on . It is easy to compare the different interest rates and terms offered by local lenders in California and you can contact any of the lenders by simply clicking on the "Go" button below the lender's logo.