Orange County mortgage activity picks up for another week

Mortgage Activity Is Up For Another Week In Orange County And Across The United States.

Orange County Mortgage Brokers know better than anyone that there is a correlation between lower mortgage interest rates and increased mortgage applications across the United States.

This fact was confirmed this week by the Mortgage Bankers Association; when they released a report that showed mortgage refinancing and new home purchases rose almost eight percent in the week that ended on March 22^nd.

Inside The Mortgage News

The increase in mortgage refinancing in Orange County and across the U.S. is good news for the economy and mortgage industry in general since activity was declining for almost 10 straight weeks but this downward trend stopped last week.

Loan requests by people who want to purchase new homes were also up as well by almost seven percent while refinancing activity amounted to almost 75% of all mortgage related activity in Orange County California and nationwide.

Not Going To Last For Long

In spite of the good news, interest rates for a 30-year mortgage loan remain at 3.79 percent, but, this mortgage interest rate can go up, and is expected to go up in the coming months, as there will be more homebuyers on the market.

First time home buyers and people who are thinking about refinancing their mortgages should consider taking action now or risk missing out on historically low mortgage interest rates.

Do You Qualify For A Mortgage Loan?

If you’re thinking about buying an Orange County home or refinancing your existing Orange County Mortgage to get a better interest rate now is the time to take advantage of the best financial opportunity that hasn’t been seen since the early 1970’s.

For a free mortgage consultation contact Sun Financial Group today by calling us at (949) 699-1950 or clicking here to schedule a mortgage loan consultation at your convenience.

C.A.R. Report Confirms Home Values Are Up

Orange County Mortgage Brokers and California Realtors received good news recently when the CaliforniaAssociation of Realtors (CAR) released a new report which shows that home values have consistently been going up for the last year and as of February, the median home price for an average family home in California was almost $335,000.

On The Right Track

The rise in home values across California has been on fire over the last year and home values have seen increases month after month for the last eight months and once February arrived, home values were increasing in the double digits.

More Homeowners Listing Earlier

One reason why home values have been going up across California is that homeowners in the Golden State have been listing their homes for sale quicker than in previous years to take advantage of the hunger for home inventory on the market today.

The C.A.R. report also shows that sales of single family homes were at almost 420,000 units back in February and this confirms Orange County Mortgage Brokers and Realtors feelings that the Real Estate recovery in here to stay and on the right track.

More Demand For Higher Value Homes

Another great thing to see in the Real Estate market, especially in Orange County is a higher demand for homes that are valued over $500,000; the California Association of Realtors report showed that demand has increased by as much as 31 percent for homes valued over $500,000 and this is good news for Orange County Residents because homes here are often valued at $500,000 or more depending on where the home is located in Orange County.

To learn more about the latest Real Estate news or to refinance your Orange County mortgage, contact the experienced team of Orange County Mortgage brokers at Sun Financial Group today by calling (949) 699-1950.

Orange County Mortgage Brokers

Thanks to a growing housing market, increased consumer spending and more jobs, the United States has experienced almost 30 straight months of growth but for Orange County Mortgage Brokers, homeowners who plan on refinancing their mortgages or first time homebuyers who plan on applying for mortgage loans, the news isn’t all that great because, mortgage interest rates continue to climb and are now the highest they’ve been in over one year.

Mortgage Industry Statistics

As of today, the average Fixed-Rate for a 30 year mortgage is around 3.63%, this interest rate means that if someone wants to borrow $100,000, they will be expected to pay $800 or more for discounted points.

The jump in mortgage interest rates is now the worst since the late 1990’s and with Mortgage Interest Rates expected to continue going up in the months to come, Orange County Residents are encouraged to act quickly or face the possibility of paying $5,000 or more during the lifetime of their Orange County Mortgage Loan.

What To Look For In An Orange County Mortgage Broker

Thanks to the Internet, any Orange County Resident can find a mortgage broker in just a few minutes but the question that they should ask is: does the mortgage broker have experience?

Orange County Mortgage Brokers are many in today’s world and it pays to check the website, read referrals and inspect a mortgage brokers BBB Profile before choosing someone to help you refinance or buy your first Orange County Home.

To learn more about the mortgage interest rates that you qualify for, contact the experienced team of Orange County Mortgage Brokers at Sun Financial Group today by calling

(949) 699-1950 or by clicking here to schedule a free quote.

Mortgage Interest Rates are only going to go up in Orange County, don’t waste another day debating if you’re going to buy or refinance your home.