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30-Year Mortgage Rates at a Record Low

Home buyers interested in Downtown San Diego Real Estate are in a great position as mortgage rates continue to drop. There are many different options out there for investors of this urban community as Downtown San Diego has 6 unique residential neighborhoods that offer something different depending on what you would like to experience as soon as you walk out your front door.

We have the Italian inspired Little Italy with their bakeries, cafes, small boutique shops and a family feel. The East Village/Ballpark is the largest neighborhood and also the newest. You can here find Petco Park and the new Downtown San Diego Library that is currently under construction. The Columbia District is the “face” of Downtown San Diego with all its luxury high-rise towers. The Marina is the more developed, tree lined street and luxury neighborhood. The historical Gaslamp with restaurants, shopping and entertainment right outside your door. Last the Cortez Hill with easy access to Balbo Park and located up on a hill reminding many of small San Francisco.

Another reason to invest in a Downtown San Diego Condo or a Downtown San Diego Loft would be the 30-year mortgage rate that is back to under 4 percent. The National Association of Realtor’s Magazine is in their article “30-year Mortgage rates are below 4%” mentioning that the low rate is giving home buyers a boost in home affordability. The 30-year fixed mortgage rate has not been this low in the last 40 years. Compared to last week when the rate went up a little to 4.08 percent, this week it decreased down to 3.99 percent. Another interesting fact and good to know is that the rate averaged 4.86 percent one year ago.

Now is the time to start taking advantage of the low interest rates. Have questions? Contact us anytime by calling 619-992-5144 or e-mail us at [email protected]. ')}