The unemployment rate dropped to five percent and hourly earnings rose 0.4 percent in October. This is good news for the economy, but could be bad news for home buyers. Many economists think October’s strong jobs report will cause the Federal Reserve to raise interest rates when they meet in December. If you’ve been sitting on the fence about purchasing or refinancing, it might be time to make a move.

I’ve added home loan interest rates to my San Diego County Real Estate Report. You can follow them below. Your credit score, down payment, loan amount and many other factors can affect your interest rate. If you’d like more information on what your interest rate would be, contact me or your lender. If you need to choose a lender, read this first.

Real Estate Report

Even though the market tends to slow down this time of year, we saw month-over median price increases in October for both detached and attached North County homes, and an increase in the median price of attached homes countywide.

According to North San Diego County Association of REALTORS® and the Greater San Diego Association of REALTORS®, year-over median prices also showed increases for both detached and attached homes in North County and San Diego County overall with detached homes posting annual increases of over seven percent.

To read the full housing statistics reports, click on the links below.