The real estate market in Southern California continues to stay strong. Today’s mortgage rates are at a record low and they offer the very best deal of the year. But as we approach the new year, it’s uncertain how long these exceptional rates will continue.
Over the coming months, a congressional relief package, more positive vaccine news, positive jobs reports, and positive economic reports are expected.
“It will not be long before the 10-Year pops above 1%. As a result, expect mortgage rates to increase from today’s exceptional 2.7% level to 3.5% by the end of 2021” says Steven Thomas, PSIR Economist.
Don’t be caught on the sidelines. With rising rates and rising home values, the market will move quickly. The time for buyers to act is right now!