San Diego Mortgage Rates Not Hurt by Interest-Rate Hikes

San Diego mortgage rates are apparently not going to be negatively impacted by the Federal Reserve’s 0.25-percent increase in interest rates announced last week.

Since 30-year mortgage rates are dictated by the yields on mortgage-backed securities, it means that home prices are expected to increase, but experts believe it will take time for the effects to trickle into San Diego County, as the market is experiencing high demand and low supply.

Windermere Real Estate’s chief economist, Matthew Gardner, estimates that the 30-year fixed mortgages, which are currently at 3.97 percent, will rise to 4.6 by the end of next year.