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The history of US 30-year fixed mortgage rates is worth noting:

 

- Rates in 1971 were in the mid-7% range, moving up steadily until they were at 9.19% in 1974. They briefly dipped down into the mid- to high-8% range before climbing to 11.20% in 1979.

 

- Interest rates reached their highest point in modern history in 1981 when the annual average was 16.63%. Fixed rates declined from there, but they finished the decade around 10%.

 

- The average mortgage rate in 1990 was 10.13%, but it slowly fell, finally dipping below 7% to come in at 6.94% in 1998.

 

- Mortgage rates steadily declined from 8.05% in 2000 to the high-5% range in 2003. As the GREAT RECESSION hit, mortgage rates fell almost a full percentage point, averaging 5.04% in 2009.

 

- Mortgage rates entered the 2010's around 4.69%, falling steadily and were in the mid-3% range by 2012. In 2013, rates went up to 3.98% when the bond market panicked a little bit when the Federal Reserve said it would stop buying as many bonds. Rates rose to 4.17% in 2014 falling back to 3.85% in 2015. By 2016 they averaged 3.65%. Rates began to rise after the 2016 presidential election, reaching their peak at the end of 2018/start of 2019.... between 3.95% on the low end and 5.34% on the high end.

 

- By January 2020 came around, the average rate for a 30-year fixed was about 3.7%. When COVID hit they dipped into the 2's, hitting a low in December 2020 at 2.68%!

Julie

Situated on the desirable Westside, this impeccable home offers the perfect indoor/outdoor lifestyle. Welcoming foyer, gorgeous hardwood floors, updated kitchen, and charming details throughout. The formal dining room offers a wonderful area for special occasions and the living room is a perfect place for gatherings. Beautifully updated kitchen with granite countertops, breakfast bar, new backsplash, newer appliances including stainless steel five burner gas cooktop and downdraft, built-in oven and convection oven/microwave. Pantry and newly updated cabinets with soft-close drawers elevate this space to the next level. The kitchen is open to family room which features a fireplace with built-in surround, bookcases and built-in speakers. Sliding doors lead to the backyard and also bring in lots of sunshine. Skylight tubes found around the house also bring in extra light. The large master suite has a sliding door and private access to the deck and pool/spa. There are two spacious secondary bedrooms. A full bath and laundry room with cabinets round out this single level home. The outdoor space is absolutely perfect for entertaining. New, custom Trex deck, built-in BBQ area, pool and spa, plus a lawn for play or relaxing. RV parking and no HOA. Welcome home…

Situated on a cul-de-sac in San Michele Estates, this beautiful Braddock and Logan home is a must see! Impressive foyer with vaulted ceiling, travertine floors and sweeping staircase with iron railing. Updated gourmet kitchen with white cabinets, granite countertops, spacious island, stainless steel appliances, pantry and breakfast nook with French doors leading to the covered patio and entertainer’s backyard. The family room is open to the kitchen and provides a wonderful area for relaxing or spending time with family and friends. Main level bedroom and full bath. On the second level, you will find additional multi-purpose areas such as an open loft area and built-in tech room. There are three spacious bedrooms and a full bath, as well a luxurious master suite as well. The backyard will not disappoint! Pool and spa, large grass area, sport court, built-in BBQ/Kitchen area, and covered patio are perfect for outdoor living. Built in 1999, three car garage, and owned solar.

 

 

Perched on one of the highest promontories in Del Mar and offering spectacular 180 degree east to west panoramic views. This newly constructed home welcomes you through the custom wood pivot door, soaring 2 story ceilings that allow natural light to flow through the home from sunrise to sunset, LaCantina doors offering open concept living spaces and bright white Santa Barbara finish stucco that has a lifetime color warranty. Luxury resort-style living is yours from the interior courtyard with 9 foot stone waterfall wall, pool and spa overlooking ocean and race trace views, outdoor shower, an indoor/outdoor bar, grassy yard area and ample room to expand and add even more space suited to your lifestyle! Designer and natural finishes adorn the home with wide plank, white oak floors, solid oak doors, marble and other designer stone handpicked by designers, Swarovski crystal sconces, woven fabric wallpaper, wood-clad wall details, Miele/Wolf/Sub-Zero appliances. Tech savvy touches throughout provide convenience with a whole-home smart system powered by SAVANT with one-touch lighting, Sonos sound system and security all operated from your smartphone.