Current Interest Rate Updates in the Stockton Lodi Real Estate Market

Home sales are rebounding in many of the real estate markets across the U.S.  Existing home sales jumped to a seasonally adjusted 9.4% in September and 15.4% in the West. This is the highest level in over 2 years. There are good reasons for this surge: the $8,000 first time buyer’s tax credit, low interest rates and a lack of inventory. Wells Fargo posted these interest rates on Friday the 23rd of October. One of the things I watch for regarding a possible housing bottom are daily mortgage rates. Below is list of Mortgage Rates from Wells Fargo.

It is difficult to predict a housing bottom?  It is important to monitor daily mortgage rates and lock in loan at an appropriate time after consulting with your Realtor and mortgage professional.

Loan Type              %Rate               APR

30 year fixed           5.0p%               5.191%

30 year FHA           5.50%               6.25%

Jumbo Loan Rates

30 year fixed           5.750%             5.895%

5 year arm              5.00%               4.176%

The Hugh Lilly Real Estate Group at PMZ Real Estate will keep you updated weekly on current interest