California median home prices and interest rates.

Fast Facts 
Calif. median home price: March 2010: $301,790 (Source: C.A.R.) In Orange County, $301,790 will get you a nice 2-bedroom or a not-as-nice 3-bedroom
Calif. highest median home price by C.A.R. region March 2010: Santa Barbara So. Coast $890,000(Source: C.A.R.)
Calif. lowest median home price by C.A.R. region March 2010: High Desert $122,970 (Source: C.A.R.) – In Orange County – This price may get you a so-so 1-bedroom
Calif. First-time Buyer Affordability Index – Fourth Quarter 2009: 64 percent (Source: C.A.R.) – This is considered as VERY high affordability as back in 2006, it was at about 25%
Mortgage rates – week ending 5/6/10 30-yr. fixed: 5.00 Fees/points: 0.7% 15-yr. fixed: 4.36% Fees/points: 0.7% 1-yr. adjustable: 4.07% Fees/points: 0.6% (Source: Freddie Mac)  – Still good interest rates.  It is not that often that home pricing and interest rates are low at the same time.

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