Santa Barbara Real Estate

Mortgage Rates Fall to 3 Year Low
  • The average rate on the popular 30-year fixed mortgage hit 3.70% on Friday, the lowest since November 2016, according to Mortgage News Daily. That rate will likely dip even lower Monday, as bond yields continue to fall.
  • The drop last week meant that 8.2 million 30-year mortgage holders could likely qualify for a refinance and save at least 0.75% off of their current interest rate by doing so, according to a new tally by Black Knight, a mortgage software and analytics company.
  • While rates are now incredibly favorable for both refinance and home purchases, consumers still need to shop around for the best rate, and a full one-third of them are not, according to a new survey from Fannie Mae.
Share this:
Mark Danforth Lomas

Share
Published by
Mark Danforth Lomas
Tags: Homes for sale Santa BarbaraMortgage RatesMortgage Rates Fall to 3 Year Low
6 years ago

Recent Posts

I Madonnari Festival returns Memorial Day Weekend!

Every Memorial Day weekend, our local slice of paradise does something incredible. The historic plaza…

1 day ago

Weekend Open Houses May 23rd & May 24th, 2026

Explore this weekend’s featured open houses across the South Coast. From coastal retreats to hillside…

2 days ago

Market Trends

The Volume Surge: Total sales in April jumped 22% year-over-year. After a slow start to…

1 week ago

Housing

We’ve all seen the headlines. The "1%," the billionaires, the exploding cost of living—and right…

1 week ago

Santa Barbara’s State Street

The Santa Barbara’s State Street Blues. It’s the first time in history a city might spend…

3 weeks ago

Private Listings vs. Pocket Listings

There's been a massive shift in the industry. As of early 2026, Compass has become a true…

4 weeks ago