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Local Market Update 

Please email janicelee@prula.com for your report - with subject line "City Report" - if your city is not listed above
SGV Market Overview
 

Mortgage Rates

U.S. averages as of

July 25, 2013:

 

30 yr. fixed:   4.31%

15 yr. fixed:   3.39%
1 yr. adj:        2.65%

Janice Lee
Luxury Properties Director
540 South Lake Ave
Pasadena, CA 91101

Email me at:
Homebuyers Locking In Affordability 

 

Fully aware both home prices and mortgage interest rates are on the rise, home buyers are hedging their bets with fixed rate mortgages (FRMs) and sizable down payments to lock in affordable housing.

 

Continued...

Most Consumers Misunderstand Budgeting  

 

Budgeting goes hand-in-hand with planning to buy a home, but many consumers don't make the connection.  

 

A survey by the National Foundation for Credit Counseling (NFCC) revealed 57 percent of those who responded believe incorrectly that a budget is a restriction on how they choose to spend money

 

Continued...

Time To Buy Real Estate?  Potential Buyers Think So 

 

It seems many buyers who've been sitting on the sidelines may finally get in the game, according to Fannie Mae's June 2013 National Housing Survey. The reason? The fear and expectation of both mortgage interest rates and housing prices going up.