Great news for homebuyers and homeowners! Mortgage rates have taken a dip, sliding down from the high 7% range to the mid-6% range!
If you're on the hunt for a new home or eyeing a refinance, this change is like discovering an unexpected bonus in your paycheck. Sure, a 6% mortgage rate might still seem a tad high compared to the sweet, record lows we enjoyed not too long ago, but compared to 7%, it's definitely a treat.
And here's the real cherry on top: that 1% drop can save you a boatload of cash. Picture this — on a $700,000 home loan, shaving off just one percentage point from your rate, going from 7% to 6%, can save you tens of thousands of dollars over a 30-year mortgage. That's a serious stack of savings, translating to lower monthly payments and less interest chipping away at your wallet.

Whether you're a first-time buyer or a homeowner looking to refinance, this dip in rates is like finding a hidden treasure chest, making your dream home more affordable and adding a sprinkle of financial freedom to your life. Cheers to that!

Home insurance is an important part of owning a home and protects one of your largest financial investments. Whether you are interested in purchasing, reviewing, or replacing you’re current policy, it’s important to compare the options available to you.

The California Department of Insurance (CDI) is a great resource and provides guides, tips, and tools to help you understand your home insurance so you can make the best, and most informed decision for you.

You can visit the CDI website here. If you need additional help, feel free to reach out to your favorite VB Realty Group agent! We’re here for you for any stage of life and will help get you to where you want to go!