Home loan rates drift lower

The National Realty News stated the 30-year fixed-rate mortgage average dropped to 6.16% with an average of .5 point for the week ending April 28, 2007. This is down slightly from last week when the average was 6.17%.

"Weaker existing home sales in March, coupled with lower consumer confidence in April caused the market to pause and reevaluate the potential growth of the economy this year." said Frank Nothaft, Freddie Mac vice president and chief economist. "This allowed all mortgage rates to decline slightly this week."

Good news for you the consumer if you need to refinance. Talk to your lender or call one of us on this list for our suggestions for a competent lender.

Lorraine

Visit me at my web site at VenturaRealEstate24-7.com .

Fast Facts from California Assn. of Realtors

Here are some "Fast Facts" from the California Association of Realtors Newsletter: (Now remember these are for all of California - including the desert areas).

"Calif. median home price - March 07: $580,090 (Source: C.A.R.)

Calif. highest median home price by C.A.R. region March 07:Santa Barbara So. Coast $1,200,000 (Source: C.A.R.)

Calif. lowest median home price by C.A.R. region March 07:High Desert $320,830 (Source: C.A.R.)

Calif. First-time Buyer Affordability Index - Fourth Quarter 06:25 percent (Source: C.A.R.)

Mortgage rates - week ending 4/19:30-yr. fixed: 6.17%; Fees/points: 0.5%
15-yr. fixed: 5.89%; Fees/points: 0.5%1-yr. adjustable: 5.45%; Fees/points: 0.7%
(Source: Freddie Mac)"

The last fact (Mortgage rates) means rates are coming down again! Can you believe it?

Lorraine

Visit my web site at VenturaRealEstste24-7.com

City of Ventura Silent Second Program $80,000

Hi Ventura! I am involved in using the City of Ventura's Silent Second Program for a buyer I am currently helping. I found out that since the City raised the dollar amount of the 2nd to $80,000, only 4 people, other than my buyer, have been able to use this program. I think it's a great program! Want to learn more about it? Send me an email at LorraineBurns@sbcglobal.net .

Lorraine

Visit me on the web at VenturaRealEstate24-7.com