Chris Lamm Mortgage

Hi Everyone!

Summer is just around the corner! Are you ready for some sunshine?

Interest Rates

Interest Rates are still at 1 year lows! This is great news for the housing market. Overall they are about 4% lower than they were a year ago. This gives people the opportunity to refinance and purchase at a lower payment then they would have this time last year.

Home Prices Stronger than Expected in Northern California

The median home price in Shasta County was 326,000 for the end of April. That is the highest point that we have seen the median home price in Shasta County in over 10 years! A lot more inventory has been entering the market with the sun coming out and the grass getting greener. People are ready to sell and buyers are now finding the homes they want to buy.

Financing Trends

Cash Out Refinance – Anyone who has purchased a home in the last few years has most likely seen an increase in their home value. We are finding that more and more people are choosing to take equity out of their house and either pay off debt, use funds to remodel their home or make home improvements such as solar.

Rate/Term Refinance – This is for those that want to take their interest rate and drop it to a lower rate. Another option is to do a term refinance to shorten the length of your loan which will help save you money in the long run and your home will be paid off sooner.

Move Up Purchase – Take advantage of equity and low rates to get the home you want.

Super grateful for all of you! If there is anything you need from me don’t hesitate to call!

Questions? Contact Chris Today!

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Chris Lamm

Contact Chris LammYour local Redding mortgage professional
970 Executive Way
Redding, CA 96002
Phone: 530-282-1166
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