The 15-Year Mortgage Rates Have California Consumers Rethinking the Best Term for Home Loans

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Are You Looking to Get Pre-Qualified for 15-Year California Mortgage Rates?

If you haven't heard, 15-year mortgage rates in California have dropped for the first time since interest rates have been published. Freddie Mac said in a recent article that the fifteen-year mortgage rates have dipped to record levels four times this year already. Today's 15-year mortgage rates in California have declined and local residents continue to respond favorably. Do you need a letter for a pre-approved home loan from reputable lenders?

DataQuick reported that the median price of new and existing houses and condominiums in the six-county region reached $300,000 last month, up 5.3% from $285,000 during the same period last year. The California Association of Realtors also released its June median sales price for existing single-family homes in the state, showing an 8.1% gain to $320,540 from $296,410.

House that were in foreclosure during the previous year accounted for 24.5% of existing sales, down from 32.9% during the previous year.

The number of properties sold in Southern California reached 22,075 in June, up 7.5% from 20,532 a year earlier. It was the sixth straight month of annual gains, the longest streak since late 2011 and early 2012.

Sales breakdowns by county showed how coastal areas were driving overall gains. Orange, the most expensive in Southern California, posted a 13.7 annual increase in the number of homes sold, with a median price of $453,000. San Bernardino, the least expensive in the region, showed a 1.3% annual decline in sales, with a median price of $158,000. Read the original CBS article.

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