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In the June 2024 Local Mortgage Update, mortgage rates continue to hover in the low 7% range as the Federal Reserve has yet to reduce the Federal Funds rate. Despite speculation, a rate cut in July appears unlikely due to the upcoming election.
The Conejo Valley rental market remains tight with available rentals near all-time lows and demand pushing rents higher.
Over the past 40 years, U.S. home prices have surged by 494%, with states like Washington, Oregon, and California seeing even more dramatic increases. This growth far outpaces the stock market's historical returns, making a compelling case for investing in residential real estate.
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About Summit Financial Network
Summit Financial Network’s diverse portfolio of businesses aids our clientele in purchasing, marketing, investing in, financing, refinancing, and managing properties. We’ve been a reliable name in real estate advisory since 1992, assisting over 2,500 community members in reaching their property ownership dreams. We stand apart as an experienced team of real estate professionals, not a traditional bank or another real estate agent. We’re a dedicated team of property investment strategists at your service.