My La Canada

Rates drop even lower!

By: Haro Gharbigi (REALTOR)

Interest rates across the country continue to go down the escalator causing home sales to rise in some Southern California markets. Sales in La Crescenta, Sunland, La Canada, Tujunga, Glendale, Burbank, and Surrounding areas have all picked up due to rate locks in the low 6%'s and even some in the 5% range.

Creative financing loans are still a major contributor for the prices in these areas holding fairly steady. The Holidays surprisingly have not had too much drag on the sales as they normally do. People don't seen to mind moving this year especially with the warm weather we've been having lately this time of year.

According to some sources the rates may continue to go lower which could have a impact on home prices either staying strong or maybe even turn the other way and go higher. This could cause an increase in speculative buying which has been slow in 2006, although I don't think we will see the same levels as we did in 2003 and 2004.


Mortgage Type Today Last Week Change
30-yr Fixed 5.58% 5.66% -0.08%
15-yr Fixed 5.34% 5.43% -0.09%
30-yr Jumbo 5.95% 6.01% -0.06%
5/1 ARM 5.39% 5.48% -0.09%
5/1 Jumbo ARM 5.60% 5.67% -0.07%


View Homes for sale in La Canada, Tujunga, La Crescenta, Sunland, Glendale, Burbank, and surrounding areas.

posted by Haro Gharbigi (REALTOR) @ 5:27 PM