For those shopping for low Los Angeles mortgage rates, there is good news. Home mortgage rates have dropped to slightly over five percent on average, which opens up a number of opportunities for those looking to refinance their homes.
In the LA area home sales have hit an adjusted two year high, and many first time homebuyers are also taking advantage of the numerous opportunities available to them and you may want to as well.
With an 8,000 tax credit to first time homebuyers, now is a great time to get your first home, although some markets are still on the decline. As long as you purchase in the right neighborhood you shouldn’t have too many problems with lower value.
Remember to get a fixed rate Los Angeles mortgage so that you can manage to lock in rates at lows that will not be seem five years from now, especially with the specter of inflation rising.