California Mortgage Rates & Refinance Activity

According to the Mortgage Bankers Association mortgage refinance activity has increased over 21% due to the lowest mortgage rates in four months. If the DOW continues to climb and the 30 year bond decreases in price the yield increases, which will cause mortgage rates to rise.

Due to the inverse relationship between mortgage rates and home prices you should see a slight increase in the month over month home sale prices in the upcoming month.

On that note if you are a member of CalPERS, LRS or JRS you may want to take advantage of the low CalPERS mortgage rates currently available.

Thanks for reading.
Jessie J. Beaudoin