Good news for home buyers!

Mortgage rates fell again in December, with the 30-year, fixed-mortgage interest rate averaging 3.86 percent, down from 4 percent in November and down from 4.46 percent in December 2013, according to Freddie Mac.  The December 2014 average 30-year fixed rate was the lowest since May 2013, just before the Federal Reserve announced its intention to taper the bond buying program.  Adjustable-mortgage interest rates also dipped in December, averaging 2.40 percent, down from 2.44 percent in November and down from 2.56 percent in December 2013.*

InterestRateGraph

* Source:  California Association of Realtors (www.car.org); graph from http://www.barchart.com

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