Voted Best Real Estate Company in SLO County in the 2017 New Times Reader Poll
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Ryan’s Mortgage Blog:

Rates have continued to rise because of the looming threat of inflation. They have slowed down a bit the last couple days but may keep slowly rising in the future. Adjustable rates have not taken as bad of a beating as fixed rates have. Keep in mind we are spoiled by great rates not too long ago, but rates are still historically low. I know a lot of people are scared with the talk of foreclosures, the slumping housing market, and higher interest rates but it is not that bad! Many of the same products are still available…100% financing, sub-prime, hard money, adjustable mortgage, etc… Instead of sitting there wondering what you should do, all it takes is a call to your local mortgage company (me) to find out your options are. I am honest with my clients because I want them to be a customer for life, not just one deal. I know it sounds like a sales pitch but I really want you to know I am here to help you.

I also think now isn’t such a bad time to buy if the situation is right. I had a client recently buy a 2 bedroom home in SLO and they couldn’t be happier with their new home and they got it for a price they would have never gotten it for a couple years ago all because the seller was afraid of the current market conditions.

I always say, “why rent and pay someone else’s mortgage if you can afford to buy your own home?” It is understandable if you do not have the money…but if you have good credit, enough $ for a small down payment and can afford the monthly payments…what are you waiting for? I know, I know, there are other factors but this is all fresh in my head because I have been trying to talk my friend into buying a home…and I hope he reads this! I am just tired of seeing him pay so much for rent when he can buy a decent home that he can fix up on his free time by putting a little “sweat equity” into it.

Even though I don’t like to answer the question, “what is the rate today” because it isn’t that simple to shoot out a number because ever scenario is different…I will still post this list of estimated rates from my company for those of you who want to see a figure:
15 Year ARM – 6.375%
30 Year Fixed – 6.75%
3 Year ARM -6.5%
5 Year ARM -6.625%
7 Year ARM -6.75%

I will be heading back to the Bay Area for the weekend, so wish me luck on a better trip this time. You can reach me at 805-540-0866 or with any mortgage related questions, or any questions related to the San Luis Obispo area for that matter.

Written by Keith Byrd - Go to Keith's Website/Profile