Market Trends Newsletter

What's Happening with Interest Rates?

Hurricane Katrina has created problems throughout the Gulf Coast, and economic recovery is on everyone's mind. The recent interest rate increases we have seen from the Federal Reserve will likely slow until we get through the crisis brought on by the storm. The Federal Reserve will be mindful of the recent increases in oil prices when they meet again on September 20th. According to Freddie Mac, the average fixed rate on a 30-year mortgage has declined for three weeks in a row, making now is a good time to apply for a mortgage or refinance an existing loan. Give us a call and we can refer you to one of our reputable mortgage lenders.

 

Importance of Home Inspections!

Hiring a qualified and experienced home inspector before you purchase your next home can save you a lot of money down the road. The inspector will focus on your home's structure, construction, and mechanical systems and tell you about any necessary repairs. Your agent should include an inspection clause as part of any offer when negotiating to purchase a home. By including an inspection clause, you maintain the right to opt-out of the purchase should serious problems be found, and allows you the flexibility to negotiate for the necessary repairs. We know a number of qualified inspectors in our area who can help you when you the time comes. Just let us know how we can help!

 

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Office: 1299 Prospect Street, La Jolla, CA 92037