Home Loan Rates In California:
If you've been following the news you know that home loan rates in California have gone up in April. The good news is that California home loan rates are still close to the lows that were available back in late March.
If you didn't lock in a rate back then there is still time to get a home loan rate that could help lower your monthly payment. Or if you're buying a home; home loan rates might be low enough now for you to buy that dream home.
Refinance Your Home In California:
If you have a 30 year fixed mortgage rate above 4.375% you may want to consider refinancing your mortgage
As California refinance rates have improved in 2019; more and more homeowners have decided to refinance. Some are refinancing to lower their rate, some are refinancing to shorten their term and others need cash out for home improvements.
Many homeowners simply want to get rid of PMI or MI so they're considering their options. Getting ride of PMI or MI could save a homeowners thousands of dollars per year so it's a good idea to review your options.
What's A Good Mortgage Rate In 2019:
If you have excellent credit and are buying or refinancing a home then a fixed rate mortgage at current levels is a great opportunity. California mortgage rates can change daily, weekly and monthly. Trying to time the "perfect" rate is next to impossible.
As homeowner you should evaluate your current financial situation and make a determination as to what mortgage rates would be helpful to your financial situation. Avoid comparing your situation to others as what is good for you may not be good for someone else.
Moving further into 2019 we could see more volatility with mortgage rates. Depending on the economic data out of the US, Europe and Asia we could see mortgage rates move higher if the world economy and more specifically the US economy improves from current levels.
If things continue to slow down for the United States, China and Germany you may see mortgage rates improve. When economies slow down interest rates generally move lower. When economies improve interest rates generally move higher.
And don't forget to keep an eye on trade negotiations between the United Sates and China.
A resolution to the trade war between the United States and China could easily push mortgage rates higher. Many investors and analyst believe much of the current economic problems in the United States and world wide can be tied to the trade war between the two countries.