Orange County Mortgage Rate Update

Orange County MortgageHome mortgage rates in Orange County have been lowered for conventional home purchase & FHA refinance loans with fixed or interest only options. Nationwide Mortgage Loans offers Orange County residents updated interest rates for refinance, purchase, second mortgages, home equity lines of credit and jumbo loans.

Mortgage Rates in Orange County Fall to 3.125% for home buying and refinancing.

California homeowners can take advantage of the lowest possible rates with special incentives and options for fixed, interest only or negative amortization payment options. Many have downgraded to easy their budget fears by selling their homes and financing a new home that costs less. This lowers their monthly payment, but decreases their potential home equity increase when the property values rebound and rise again.

Many so-cal natives have been buying million dollar homes with the "(see lender) finance wonder", otherwise known as the payment option ARM. Million dollar home loans have become rather normal in Orange County. Many financing skeptics are concerned that many of these homeowners do not know what they are getting themselves into, because the interest is with these mortgages is deferred and added to their principal balance at the end of the year. In a declining real estate market this could prove to fuel loan defaults that may result in foreclosures. The effective interest rate is a lot higher than (see lender) in the end. Homeowners are gambling with their equity, but many consumers have benefited from the increase purchase power.

Get the latest first and second mortgage rates. Choose from fixed or variable interest rates for purchase or refinancing.
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Orange County Hits the Housing Curve As Mortgage Rates Drop Again
Orange County home sales explode into March

Sales jumped 63.7% at the end of the first quarter of 2006, even as the prime interest rate climbed steadily during the same period. Sales turned south at the beginning of the second quarter and continued to drop. "We experienced the greatest year-to-year sales decline last month since August 1982, when sales fell 30.4 percent," says California Association of Realtors President Vince Malta. "This is another indication that we're in the initial stages of a long-anticipated adjustment in the market.

Orange County home prices not taking the plunge.
The median sales prices in the county climbed from $699,060 in January to $729,370 in April then turned down finishing at $698,080 in August. "With inventory levels double that of a year ago, annual price appreciation for the state slowed from the double-digit rates we experienced throughout all of last year to single digits this year," says Malta. "And in some regions of the state prices are down from a year ago.

However, with a 7.5-month supply of homes for sale in July, we're far below the peak of February 1991, when there was an 18-month supply on the market." Thirty-year fixed mortgage interest rates averaged 6.32 percent during March 2006, compared with 5.93 percent in March 2005, according to Freddie Mac. Adjustable mortgage interest rates averaged 5.42 percent in March 2006 compared with 4.23 percent in March 2005. Overall sales for 2006 rank around 30% less than sales from one year ago.

Nationwide Mortgage Loan Company Press Release

Home Equity Loan Compatible with the Controversial "Pick a Payment Loan"
Nationwide Mortgage Loans introduces a second mortgage loan that can subordinate to 100% behind a negative amortization first mortgage. This new home equity feature opens the doors for many homeowners who have found it very difficult to get a second mortgage or home equity loan that is compatible with a first mortgage that has a negative amortization.

Download this press release as an Adobe PDF document.


Home Equity and Mortgage Rate Info for Orange County Cities

South Orange County Mortgage Rates
Coastal properties in Laguna Beach, Dana Point and San Clemente are finally rebounding. With low rates and rising values, 2013 and 2014 look much better for home financing in Orange County.

San Clemente Home Equity Rates
Property sales in the South OC are stagnant. Get approved for a HELOC or 2nd mortgage now will property values are still high.

Laguna Niguel Mortgage Rates
Coastal properties in Laguna Hills, Aliso Viejo and Laguna Niguel have dropped 5-10% across the region.

Mission Viejo Home Equity Loans
Home values for Mission Viejo have sky-rocketed over the last decade. Will the appreciation continue? Get a Home Equity Line today in case it doesn’t.

Orange County Home Loans
O.C. Job growth helped keep property values high for years, but home sales from San Clemente to Newport seem to have leveled off. Home sales in Tustin, Santa Ana and Mission Viejo may have actually dipped.

 

Resource Tools

ARM vs. Fixed Rate Calculator
How does a fixed rate 1st or 2nd mortgage compare to an adjustable rate mortgage or home equity line of credit?


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Additional Helpful Mortgage Loan Pages:
Adjustable Rate Refinance | Home Equity Refinance | Bad Credit Refinance | State Guide Second Mortgages | State Guide Home Equity Rates | California Mortgage Rates | Underwater Mortgage | 2015 FHA Loan Limits in California
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