Here is an informative article that goes into detail about current buyer strength in today’s real estate market. Let me know what you think.
“30-year fixed rate mortgage (FRM) rates in California fell to 3.31% in November 2012. One year earlier, the rate was 3.99%. This translates to an 8.99% increase in mortgage funds available to today’s buyers. This purchasing power index of 8.99 is a big step up from the modest 3.66 index in November 2011.”