The numbers for April are finally out from CAR and Freddie Mac. As you can see, the median home prices are starting to come up again… as are the interest rates! Mortgage rates continue to creep up, probably because lenders anticipate that the Fed will raise rates on fears of inflation.

Calif. median home price – April 07: $597,640 (Source: C.A.R.) (note: compared to $580,090 last month)

Calif. highest median home price by C.A.R. region April 07:Santa Barbara So. Coast $1,475,000 (Source: C.A.R.) (note: compared to $1,200,000 last month)

Calif. lowest median home price by C.A.R. region April 07:High Desert $317,420 (Source: C.A.R.) (note: compared to $320,830 last month)

Calif. First-time Buyer Affordability Index – First Quarter 07: 25 percent (Source: C.A.R.) (note: compared to 25 percent last month)

Mortgage rates – week ending 5/24:

• 30-yr. fixed: 6.37%; Fees/points: 0.4% (note: compared to 6.16% and 0.5% points last report)
• 15-yr. fixed: 6.06%; Fees/points: 0.4% (note: compared to 5.87% and 0.5% points last report)
• 1-yr. adjustable: 5.64%; Fees/points: 0.6% (note: compared to 5.43% and 0.7% points last report)

- California Association of Realtors & Freddie Mac