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.
Share this:
Mark Danforth Lomas

Share
Published by
Mark Danforth Lomas
Tags: Homes for sale Santa BarbaraMortgage RatesMortgage Rates Fall to 3 Year Low
6 years ago

Recent Posts

The Compass Anywhere Merger

The residential real estate industry just witnessed a seismic event: the proposed combination of Compass…

7 days ago

Sightings 2025

If 2025 were a high-society treasure hunt, the Montecito Journal’s “Sightings” column would be the…

2 weeks ago

South Santa Barbara Market Trends

As Q3 wraps and September’s stats roll in, South Santa Barbara County’s residential market tells…

2 weeks ago

Santa Barbara’s Boroughs in Motion

In 2021, the Santa Barbara Independent publication heralded the "Boroughs of Santa Barbara," selecting seven…

3 weeks ago

Navigating the Waters: Mortgage Rates and the Government Shutdown

The world of mortgage interest rates can feel like a constantly shifting landscape, and right…

1 month ago

Paul McCartney Rocks the Santa Barbara Bowl

Santa Barbara had its own Beatlemania moment last Friday night when Sir Paul McCartney kicked…

1 month ago