A sharp rise in mortgage interest rates after the presidential election is starting to impact home sales. The average 30-year fixed loan hit the highest level in more than a year on Friday and shows no sign of dropping. Buyers went from the prospect of 3.5 percent to 4.125 percent in barely a week.
For those with more of a financial cushion, the increase in monthly payments is simply frustrating; for those on the edge of ownership, it can mean they need to set their sights lower. Read the rest here:
Last month, (November 2016) La Canada home values ranged from $736,000 – $3,795,000. The least expensive La Canada home sale was at 4469 Alta Canyada. This two bedroom one bath home was impacted by both high tension lines and freeway noise. 708 Georgian Road was the high end in La Canada. This home was constructed in 2002 for the owner, sold in 2004, again in 2006 and the most recent sale in 2016 – four sales in 14 years….
Call Phyllis at 818 790-7325 to learn more about La Canada home values.