October 4, 2024

Mortgage Rates Drop Again

As of today, home mortgage rates have declined once again.

San Diego Home Mortgage Rates

 Now, don’t get too excited the 30-year fixed home mortgage rate is still above 7%. But, currently the 30-year fixed rate loan average is about 7.65%.  That rate is about 1% less than it was in September of this year.

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I understand many may not think that 7.65% sounds like a good deal. For those folks, I would suggest that you consider that the 30-year Home Mortgage average reached as high as 8.13% and dropped as low as 7.64% so far in November. Keep in mind that today’s average home mortgage rate of 7.64% is way below the peak average that it hit in October which was 8.45%. Actually the 8.45% registered in October was an historic 23-year high for the 30-year home mortgage rate.

Some adjustable home mortgage rates even had a bigger drop than the fixed rate loans. Home mortgage rates  are variable between different lenders, so it always pays to shop around for the best possible deal.  I would suggest, if you are shopping around for a home mortgage, stick to one program so you get a valid comparison between lenders. In other words, if you sure you want to get a fixed rate 30 year loan, find out what the points and total fees will be with each quote that you get so you’re actually comparing apples to apples.

Mortgage Rates Drop

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  • Although no longer a licensed California real estate broker Bob’s 30 plus years of experience in the real estate industry with all the contacts that he has developed,  he is able to provide referrals to the top real estate Professionals in any state within the United States.  So, although you can’t get Bob to represent you personally, Bob can select a top real estate professional with years and years of experience to ensure that you get the best possible representation.