December 2019 Mortgage Market Update - Year end review and looking into 2020
Year End Review
In Shasta County we have seen a 7% appreciation and throughout the state of California it’s been about the same, more or less. Overall, this has been a pretty good year, especially, considering that a lot of experts thought that prices could slow or go down. Currently, in Shasta County, we are are seeing that inventory is a little bit light, which is typical for this time of year. As we head into the new year we should expect to see a lot of new construction coming into the market place.
Interest Rates and Going Into 2020
Everyone has been asking me what I think rates will do or be going into next year and is it a good time to refinance now or wait. Most experts in our industry are thinking that rates are most likely going to stay low, however, no one really knows what’s going to happen. Rates could go up or they could go down. If you own a home and you haven’t looked into refinancing you really should take a look into it. With rates being where they are now, it’s a good time to refinance into a lower rate or purchase a home if your are currently renting. To get started with the loan process click here.