Santa Barbara Real Estate

Mortgage Rates Fall to 3 Year Low
  • The average rate on the popular 30-year fixed mortgage hit 3.70% on Friday, the lowest since November 2016, according to Mortgage News Daily. That rate will likely dip even lower Monday, as bond yields continue to fall.
  • The drop last week meant that 8.2 million 30-year mortgage holders could likely qualify for a refinance and save at least 0.75% off of their current interest rate by doing so, according to a new tally by Black Knight, a mortgage software and analytics company.
  • While rates are now incredibly favorable for both refinance and home purchases, consumers still need to shop around for the best rate, and a full one-third of them are not, according to a new survey from Fannie Mae.
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Mark Danforth Lomas

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Mark Danforth Lomas
Tags: Homes for sale Santa BarbaraMortgage RatesMortgage Rates Fall to 3 Year Low
5 years ago

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