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August 11, 2010

California Home Loan Rates Decline

Nationwide reported that San Diego mortgage rates remained at record lows for new home buying and refinancing.   From Oceanside to Chula Vista, San Diego loan applicants continued to see significant home financing opportunities because of the low interest rates that were available locally to qualified borrowers.  Nationwide published a report indicating that 30-year fixed California mortgage rates ranged from 4.32% to 5%.  Southern California home loan rates continue to rescue many homeowners from rising adjustable rates and mortgage payments that many homeowners could no longer afford.

Lenders APR Rates
National Average 4.894% 4.75%
Wells Fargo 4.848% 4.75%
Nationwide Mortgage 4.615% 4.5%

Apparently VA mortgage rates were available at 4.125% for fixed loan terms.  And for those borrowers who were comfortable with an interest rate only fixed for 5 years (5/1 ARM), California FHA loans could be found at 3.75% for qualified loan applicants.  Read the original article on San Diego mortgage rates

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