Sunday, June 25, 2017

Interest rates raised again in June

This month's real estate news:

Interest rates were raised again this month, but the rate hike seems to have been factored in as, mortgage rates stayed steady if not displaying a slight decline.  Global uncertainties and the White House's inability to get tax reform done this year are continuing to contribute to low rates. Inflation seems under control, but future inflation numbers and employment data will factor into the Fed's decision over future rate increases.Local inventories continue their downward trend, dipping below the two month mark in a few areas.

Overall still a seller's market as multiple offers continue to dominate in a low inventory market.

Here are some local number's; home prices for March 2016-May 2017 vs. same period last year:

Glendale+    6.8%
Burbank     +    7.8%
Toluca Lake+   45.7%
Pasadena+  14.8%
Studio City+    2.6%
Hollywood Hills+  23.5%
Valley Village+     7.3%
Sherman Oaks    -     2.4%

Please call me if you would like home selling strategies that net top dollar!
Ana Connell 818-795-8474.

Weekly mortgage rates:

30 yr. fixed rate        4.02      0.01
15 yr. fixed rate         3.27      0.00
5 yr. adjustable rate  3.13       0.01 
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