16 Dec 2019 December Real Estate and Mortgage Trends, Southern California
This year is coming to a close and 2020 is right around the corner! Experts predict much of the same as we enter the new year. There was big federal news announcing the new conforming loan limits. Lenders, buyers, and sellers have a lot to look forward to with these new maximums.
The continual Trade War disputes have seen ups and down with drama in December. Ultimately there is a proposed deal that ‘has not been signed yet’ between the U.S. and China. This unwavering activity caused a change in yields and rates to see a slight rise to a 3.73 percent average. Mortgage rates are expected to stay steady and help keep an overall positive outlook on the market.
Refinancing applications should stay at a consistent high but we may see purchasing activity outgrow those numbers. Want to know more about your local market? Reach out and I’d love to discuss.