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  • Sales & Marketing Specialist, Realtor
  • 44530 San Pablo, Suite 101
  • Palm Desert, CA 92260
  • P: (760) 218 – 5752
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We hear similar stories repeated in different ways from our clients; At first, they look forward to stolen weekend's to golf & relax in the desert - they gradually discover they're crafting ways to spend more time here until it becomes clear, life just doesn't get any better than this."

Once that realization hit's, the process of change begins... We know what an extraordinary commodity your home is - buying or selling a home can be one of the most important decisions you will make and having the right team on your side will make the difference.

We specialize in homes throughout the Palm Springs Valley including Palm Desert Real Estate & Homes, Indian Wells Real Estate & Homes, La Quinta Real Estate & Homes, Rancho Mirage Real Estate & Homes, Palm Springs Real Estate & Homes& Indio Hills Real Estate & Homes. Whether you want to buy or sell an estate, lock & leave property with income potential, a resort property, land to build your dream home, or a property located in a country club or golf community we know the desert and are here to help. Our motto, If its important to you, it's important to us, guides us as we help our clients buy or sell a home in the desert.

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Mortgage rates hit another record low

Mortgage Rates

Mortgage rates hit another record low according to mortgage giant Freddie Mac, the average rate on the 30-year fell to 3.34%, 0.06 percentage point lower than last week. The 15 year fell 0.04 percentage point to 2.65%

The new lows reflect increased demand for government bonds, according to Keith Gumbinger, of HSH.com, a mortgage information company.  “It’s a flight to quality,” he said. “You may have noticed that stocks sold off last week after the election.”

When investors turn away from stocks, they often park their cash in Treasurys, and the added demand brings down bond yields. Mortgage rates tend to track those yields down. A secondary factor, said Gumbinger, was a drop in demand for loans, some of which was related to Superstorm Sandy, according to the Mortgage Bankers Association.

Record low mortgage rates have made mortgage borrowing cheaper than even just a year ago, when rates were thought to be extremely favorable. At the time, 30-year loans had rates of about 4%.

A homebuyer today would save about $27 a month for every $100,000 borrowed, compared with last November. That’s a savings of $486 a year on a typical mortgage balance of $150,000.

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  • Cathi & Ben Walter
  • REALTOR ®
  • 44530 San Pablo, Suite 101
  • Palm Desert, CA 92260
  • P: (760) 218 – 5752
  • E: Cathi@DesertAreaHomeFinder.com
  • CalBRE# 01346930

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