Mortgage Rates near 50 year low!

With mortgage rates again nearing their 50-year low, would-be San Ramon buyers and homeowners have to make a choice:

- Buy or refinance now and lock in the rate;
- Wait and hope rates sink even lower, as some economists are predicting;
- Or watch rates rise to as much as 5.5 percent, as other economists predict.

The issue arose Thursday, as Freddie Mac’s weekly Primary Mortgage Market Survey showed the average rate for a 30-year, fixed-rate loan at 4.78 percent, down from 4.84 percent last week and the lowest since the 50-year low of 4.71 percent in December. Rates and fees vary by region and lender.

“Strike now,” said Gary McBride, Bankrate’s senior analyst. “If they move quickly against you, it just takes money right out of your pocket."

We agree. It's going to be a beautiful Memorial Day weekend... Get out there and look at some homes! East Bay home prices are holding steady and even inching up in some neighborhoods. And San Ramon homes move fast because it's such a great place to live.

Have a great Memorial Day weekend and I'll be back with more great information next week!