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According to Freddie Mac, 30 year fixed mortgage rates declined to 4.19% and 15 year rates are at 3.62%. These are the lowest rates on record since the beginning of tracking such data, in 1971. Some experts have said we would have to look back approximately 50 years to see similar mortgage interest rates. With these once in a lifetime rates houses should be selling, but the confidence in the economy is still low. There has been an increase in refinances, but people are leery of investing in real estate. In order to feel confident about a real estate investment the consumer must be able to commit for the long term. This is difficult for most when unemployment is still at about 10% and inflation continues to be a concern. However for those who work in less volatile employment sectors and are considering purchasing a home or investment property, there will never be a better opportunity. You can determine any property’s value with a quick and easy Eppraisal and if you have any further questions about central valley real estate or investment opportunities feel free to call Pat Holkesvig & Your Home Team at 209.471.6516 or complete our Contact Us form.

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