Financial/Mortgage Update


Mortgage rates are down again for the Palos Verdes real estate market. A 30-year fixed conforming loan is 4.625% – That is a record low in Freddie Mac data going back to 1971!

Fixed mortgage rates in the U.S. fell for a second consecutive week as the Federal Reserve plan to buy mortgage-back securities helped drive rates lower. 18 properties on the Palos Verdes Peninsula went into escrow in the last week. I believe Buyers are realizing what a great opportunity this is for them and they are taking advantage of these historically low interest rates.

Above mortgage rates for Palos Verdes homes are provided by Jim Kurata, Peninsula Mortgage/Chase (310-994-2769).

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