Historically; How low are mortgage rates?
Interest rates are historically low as reflected in the chart below. For some home buyers, especially first time home buyers, now is the best time to buy. Interest rates will go up, the only questions are: When? How quickly will they go up when they start to go up? Please consult a professional to see how an interest rate increase might affect your how home purchasing plans. An example of how a 1% increase is as follows. Today $1,432. will be the payment on a $300,000. mortgage at 4%. If the interest rate changes to 5% the same $1,432. will be the payment on a $266,000. mortgage. If the interest rates go to 6%, $1,432. will be the payment on a 238,000. mortgage. Bottom line, when interest rates go up 1%, the mortgage amount or home price will need to be 10% or 20% less in order for the payment to be the same as it would be today with the current rates.
For additional information, we invite you to arrange for a confidential interview with a real estate counselor at Exit Realty By The Sea. 805-656-8000
Reproduced with the permission of Mortgage-X.com'
About Our Community
Mission San Buenaventura was founded in 1782 by Father Junipero Serra and the City of San Buenaventura was incorporated in 1866. Ventura is located in western Ventura County bordered by the Los Padres National Forest and the Pacific Ocean and saddled between the Ventura River and the Santa Clara River with the Channel Islands National Park fifteen miles off the coast. Neighboring cities include Oxnard, Port Hueneme, Camarillo, Ojai, Santa Paula and Fillmore. Other nearby cities in Ventura County are Moorpark, Thousand Oaks, Westlake Village and Simi Valley.With average temperatures of 75 degrees and a Mediterranean climate, nearby mountains, ocean beaches, the Ventura Harbor, the Channel Islands and 31 parks, the environment is ideal for family activities of hiking, sailing, kayaking, golfing, cycling, swimming, surfing and scuba diving. Exploring and camping in the Channel Islands can be arranged by Island Packers in the Ventura Marina.
The City of Ventura supports cultural activities of art walks, music festivals, street fairs, live theatre, farmers’ markets and events at the Ventura County Fair Grounds. A walk through historic downtown Ventura and to the new museum and the San Buenaventura Mission add to the activity list with something for every generation.
Affordable neighborhoods from the west side, to midtown, to the east end of Ventura attract families for their proximity to Ventura College, Channel Islands University and UC Santa Barbara. The historic Hobson Heights and the hillside Ondulando areas offer views of downtown Ventura, the Pacific Ocean and the Channel Islands, while some ocean front homes in Pierpont Bay offer front door steps to the fresh beach sand. For the boat owner who would like to have a waterfront home they may choose Ventura Keys which is adjacent to the beautiful Ventura Harbor. Many Ventura residents think Ventura and its’ many features are among the best kept secrets.
