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Mortgage Rates Continue To Dip

August 18th, 2017 · No Comments · Mortgage Information, Santa Barbara Real Estate

Over the past week, mortgage rates dropped to 3.89%, a drop of just one basis point (0.01%) from the previous week. That sort of decrease is so small that some home buyers aren’t going to notice any type of difference in rates in their area. The good news is that mortgage rates aren’t rising.

For the most part, the economy is growing at a healthy pace. There are jobs being added to the economy and property value continues to appreciate, giving homeowners a solid investment option. While home buyers like to see dropping rates, current rates shouldn’t look so bad. Historically, rates are still quite low, and current rates are holding below the four percent threshold.It should steadily become easier for home buyers to find homes as well. Urban areas in particular have been difficult markets for home buyers, marked by the shortage of homes available.As fewer home buyers swarm to purchase houses in the summer months, homes will gradually begin to sell at a slower pace.

With mortgage rates holding low, there’s plenty to be optimistic about with the housing market.

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