California Home Buying
A variety of converging factors affect the recovery in the California housing market. These include first-time buyers and investors buying low-end properties, resulting in short supply. High-end sellers are having a problem securing qualified buyers who can obtain financing with the more stringent loan requirements now in effect. California also ranks third in the nation for mortgage fraud, according to a report by Mortgage Asset Research Institute (MARI), a division of LexisNexis®. It remains to be seen how the lack of a tax credit stimulus for home buyers (it expired April 30th) will affect the California housing market.
California Current Interest Rates
Current mortgage rates in California for 30 year fixed loan are 4.20% (updated Oct 26, 2011)(updated daily)