Mewborn Team Real Estate Consultants: CoastalLuxurySanDiego.com

January 8th, 2012

Historically Low Interest Rates – Is now the time to buy?

Categories: Buyers, Home Loans, Interest Rates, Market Trends

Who ever would have guessed that we would actually see interest rates in the 2% to 3% range – especially for a prolonged period of time?  It AMAZES me that these rates have continued.  When I bought my first house in 1997, my interest rate was 8.5%, and everyone told me what a great rate that was.  REALLY????

If you are looking for a $500,000 home today, this is what it would look like at different rates (assuming a $500,000 purchase, 1% in property taxes and $500/year in hazard insurance)

As you can see, just a 3% change in interest rates can make as much of a difference as $1,000/mo in your payment.  As most of us are looking at buying a home, we normally buy at the absolute top of our price range.  We always want the nicest home we can get at the best payment possible.

So, if you are seriously looking for a home, this might be the time to jump into the market!  It seems to be the “perfect storm” for potential buyers – historically low home prices AND historically low interest rates.

If you have any questions, always feel free to contact The Mewborn Team.  We’re always happy to answer any questions or find you a resource that will be able to meet your needs!

Tags: Carlsbad Interest Rates, San Diego Interest Rates

Posted by Mike and Amy Mewborn// Please leave a comment.

October 19th, 2009

Carlsbad Mortgage Rates Near All Time Lows Again!

Categories: Buyers, Carlsbad, Interest Rates

Carlsbad, CA -Thirty-year, fixed-rate mortgages moved closer to the all-time low of 4.82 percent reached in May, falling to 4.87 percent this week from 4.94 percent a week ago, according to Freddie Mac.

Carlsbad home owners who refinance have an opportunity to reduce their payment on a 30-year, fixed-rate loan for $400,000 by nearly $268 a month from a year ago, when long-term rates averaged 5.94 percent.

Other mortgage averages were as follows:

• 15-year loans fell to 4.33 percent.
• Five-year adjustable-rate mortgages dropped to 4.35 percent.
• One-year ARMs rose to 4.53 percent.

Tags: Carlsbad Interest Rates

Posted by Mike and Amy Mewborn// Please leave a comment.

July 27th, 2009

Two Tips for Carlsbad Parents Buying Homes for Children

Categories: Buyers, Home Loans, Interest Rates

Carlsbad, CA – With Carlsbad and La Costa home prices low, now many parents are thinking of buying their children a home or investment property. If you are considering this type of gift, please be mindful of the tax consequences.

1. Give a cash gift. Although some parents want to (and can afford to) purchase a house for their children, many want to help but are not in the position to gift the entire cost of the home. Parents are allowed to gift up to $13,000 per person per year without incurring gift tax. This means two parents could give their child and spouse up to $52,000 per year to go toward a down payment.

2. Lend money. Rather than gifting, you may prefer to loan money. In order to avoid taxation, the government requires that loans from family members meet or exceed minimum loan rates to avoid having the loan be considered a gift.

If you have any real estate or mortgage questions about Carlsbad, La Costa, or other coastal areas, please contact us.

Tags: Carlsbad Home Prices, Carlsbad Interest Rates, Carlsbad Mortgages, La Costa Home Prices, La Costa Real Estate

Posted by Mike and Amy Mewborn// Please leave a comment.

June 28th, 2009

The Most Important Thing to Do Before You Look For a New House

Categories: Buyers, Home Loans, Interest Rates, Relocation

Each La Costa and Carlsbad buyer is unique! Your income and your debts will typically play the biggest roles in determining your price range.

Combine your unique factors and current San Diego interest rates, and a lender will be able to get you pre-qualified so you know what you can afford before you ever start looking. Read the rest of this entry »

Tags: Carlsbad Interest Rates, Encinitas Interest Rates, Encinitas Mortgages, La Costa Interest Rates, Oceanside Interest Rates, Oceanside Mortgages, San Elijo Interest Rates, San Elijo Mortgages

Posted by Mike and Amy Mewborn// Please leave a comment.

June 11th, 2009

Carlsbad, CA – Mortgage Rates Highest in 7 Months

Categories: Buyers, Home Loans, Interest Rates, Market Trends

Throughout Carlsbad and San Diego, California, rates for 30-year home loans jumped to the highest level in seven months this week, leading to a slowdown in refinancing activity, Freddie Mac said today.

Read the rest of this entry »

Tags: Carlsbad Interest Rates, Carlsbad Mortgage Rates, Carlsbad Mortgages, La Costa Interest Rates, La Costa Mortgages

Posted by Mike and Amy Mewborn// Please leave a comment.