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Tag: 15year

How to land an ultra-low 15-year mortgage rate for your refinance

How to land an ultra-low 15-year mortgage rate for your refinance
How to land an ultra-low 15-year mortgage rate for your refinance

Thanks to this year’s historically low mortgage rates, refinancing remains a popular activity among homeowners — and it has taken on more urgency as a new refi fee threatens to push rates higher this fall.

A 30-year fixed-rate mortgage might be a borrower’s automatic first choice for a refi loan. But if you’ve been in your house a few years, refinancing to a 15-year mortgage can keep you from dragging out the debt and piling up massive interest costs.

The monthly payments on a 15-year home loan can be steeper, but the interest rates are lower: currently near an all-time low at an average 2.37%, which is one-half of 1 percentage point (0.50) below the typical 30-year mortgage rate, according to mortgage company Freddie Mac.

Some borrowers in 2020 have been able to score 15-year rates in the low

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S.F. homes for sale at 15-year high as listings outpace buyers

San Francisco’s residential real estate market saw brisk activity from July through September with a steep increase in both sales and inventory, as a significant jump in buyers was not enough to keep up with the deluge of new condos and homes flooding the marketplace, according to a new report from the brokerage Compass.



a large body of water with a city in the background


© Nick Otto / Special To The Chronicle


The number of sales rose 30.2% compared to the third quarter last year, climbing from 1,151 to 1,499 transactions. But the number of listings is at a 15-year high, with a 10-month inventory for condos in some neighborhoods. Comparing September to the same month last year, the number of price reductions was up 172% for houses and condos combined. Of the price reductions, 80% were of condos.

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“The issue the inventory is increasing so much faster than the sales rate,” said Patrick Carlisle, chief market analyst

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