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Angelenos paying almost three times as much of income on mortgages – Los Angeles homeowners are paying nearly three times as much. Federal Reserve’s planned hikes in the benchmark interest rate this year, which drives mortgage rates higher. While they may end up.
Home Mortgage Rates in California. Palm trees, beaches and more than 300 sunny days per year on average – who wouldn’t want to live in the Golden State? And that’s precisely the problem. Demand for homes in California has soared; consequently the prices reflect that. The real estate market in California is one of the country’s most expensive.