California Mortgage Rates Getting Lower

The 10 year bond continues is drop in yield. Over the last 3 months we have gone from 4.85% down to todays closing at about 4.14%. This downward pressure has lowered mortgage rates. If we see the yield drop below 4.00% you should see mortgage rates near or below the 5.0% mark. This would be near the lows from Oct. / Nov. last year when bond yields were approximately 3.87% and the 30 year fixed mortgages at about 4.875%.

Thanks for Reading.
Jessie J. Beaudoin