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Most recent articles

1927 Beach Bungalow

The classic beach bungalow has special appeal to those who remember growing up near the ocean and living in one just like this – and there aren’t many left! You’ll be paying close to a million or more to be this close to the sand anywhere else in North SD County – and this can be yours for $649,000!

Posted by on May 21, 2015 in Bubbleinfo TV, Jim's Take on the Market | 1 comment

Effect of Rates on Prices

We saw yesterday that the number of sales in the first four months of 2015 was only exceeded by those in 2013 – which was the only other time mortgage rates were in the mid-3s.

Let’s compare the mortgage-rate history of those two years:

2013 vs 2015

In 2015, the spring kick got a early boost as rates dropped close to the enticing 3.5% range.  But now rates are on the upswing.

This graph from the latimes.com shows how prices jumped substantially in the first half of 2013, but stalled as soon as rates began rising:

price trend so cal

The lower rates haven’t boosted prices as much this year – of course, we started at a higher point. Rising rates now should cause at least the same effect that they did in the second half of 2013 – flatsville.

rates apr19

http://www.mortgagenewsdaily.com/05192015_freddie_mac_outlook.asp

Posted by on May 20, 2015 in Jim's Take on the Market, Sales and Price Check | 1 comment