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South Lake Tahoe Real Estate Update: Mortgage Interest Rates…then and now!

By
Real Estate Agent with McCall Realty

Mortgage Interest Rates since year 2000

Is it a good time to buy a house in South Lake Tahoe (Pt 1)

(Lake Tahoe Real Estate Blog / October 26, 2010 / Richard Bolen)

This begins a four-part series on whether it is a good time to buy a house in South Lake Tahoe in today’s real estate market climate.

This is a rather detailed look at some of the key factors in making a buying decision. We’ll be looking at interest rates,  mortgage payments, the differences, if any, in the characteristics of a median priced house from 2003 until now, and we’ll also look at another way to determine house values.

First, lets look at mortgage interest rates… then and now.

As you know, mortgage interest rates vary daily. At any given time, the rate also varies by one’s credit score. The rates herein are national averages by month for the last decade.

As of Sunday, the average national mortgage rate on a 30-year fixed loan was 4.15%. This is historically low, and is a significant buying opportunity.

The average mortgage interest rate throughout 2010 to date is 5.17, or about a point higher than it is now. It was 5.59 in 2009, and 6.62 in 2008.

Continue reading “South Lake Tahoe Real Estate Update: Mortgage Interest Rates…then and now!” on our main blog.


Previous Lake Tahoe Real Estate Blog posts:

Jun 26, 2010: The cheapest mortgage interest rates in a half century
Jun 18, 2010, Are We Seeing Any Change in South Lake Tahoe Home Values
Jun 17, 2010, South Lake Tahoe, CA 2010 Housing Demand
Apr 27, 2010, You Still Get a 5% Can Mortgage?
Apr 12, 2010: Does interest rate shopping effect your FICO score?
Apr 10, 2010: An Interest in Interest Rates
Apr 9, 2010: Thoughts on South Lake Tahoe New Home Sales

Comments (1)

Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation

When I read your intro, I settled in for a long read.  But it looks like you're breaking this into 4 parts, and I think that's a good idea.  I don't think most people truly "get" what a wonderful opportunity it is to have 4.15% interest rates available.

Oct 29, 2010 01:07 AM