Market Update 7.12.2022

As Steven Thomas explains in the latest Orange County Housing Report, for homeowners looking to sell in 2022, the window of opportunity is closing as the inventory climbs, demand falls, and market times grow longer.  Reach out now if you are ready to sell!

Below is a quick glance at where we are with the market this week.  

#1 - Interest Rates

Rates as of 7/11/2022

Conventional/Conforming: 

    *30 year fixed: 5.625%

    *15 year fixed: 4.75%

Jumbo/Portfolio: 

    *30 year fixed: 5.375%

    *15 year fixed: 5.000%

*If you wanted to buy a home for: $1,000,000

Down payment (20%): $200,000

Est. monthly mortgage payment: $5,939/month for 30 years

Est. monthly mortgage payment: $7,557/month for 15 years

Est. monthly mortgage payment: $5,814/month for Jumbo/Portfolio loan 30 years 

Est. monthly mortgage payment: $7,660/month for Jumbo/Portfolio loan 15 years

Get pre-approved to be ready for the purchase process now. If you would like to speak with a mortgage lender, click reply and I will make an introduction to a lender that will best meet your lending needs.

#2 Real Estate Market Snapshot for Huntington Beach as of 7/11/2022

* There are 51 new homes on the market in the last week in Huntington Beach for a total of 247 active listings.

* 25 properties went under contract in the last week.

* 26 active listings have reduced their price this last week.

* Median list price is $1,299,999.