Housing affordability in California is near its lowest levels in over a decade. In today’s California housing market update, I discuss how this compares to the nation as a whole as well as which counties in California are the most and least affordable for the California real estate market. I also share how Sacramento CA fared compared to the rest of the state.
It’s important to note that mortgage interest rates have spiked big time this year so affordability is going to be much worse in Q1 2022. Mortgage rates have increased by about 0.83% this year alone (at the time of this video).
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To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is 4.10% for the current mortgage rates. This is mixed news if you’re a homebuyer right now or if you’re a homeowner looking to refinance.
Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?
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Jason Walter, CPA (lic 103885)
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Realty ONE Group Complete (DRE 01923240)
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Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video – it is for entertainment purposes only.
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Originally published at https://www.youtube.com/watch?v=0YoUEASPkjM