California median home price - November 07: $488,640
California highest median home price by C.A.R. region November 07: Santa Barbara So. Coast $1,075,000
California lowest median home price by C.A.R. region November 07: High Desert $262,650
California First-time Buyer Affordability Index - Third Quarter 07: 24 percentMortgage rates - week ending 01/03: 30-yr. fixed: 6.07%; Fees/points: 0.5%; 15-yr. [...]

Pending U.S. home sales declined 2.6% to 87.6 in November, down from 89.9 in October, and 19.2% below the November 2006 level of 108.4, according to NAR’s recent Pending Homes Sales Index report.
The index fell 2.1% to 86.6 across the West and remains 18.5% below November 2006 levels. In the South, the index increased 2.3% [...]

Greater upfront costs and continuing higher interest payments are some of the differences between prime lending and subprime lending. While providing opportunities to build equity through homeownership, subprime lending does cost more.Responsible risk-based subprime lenders provide access to credit for prospective home owners with poor credit scores. However, lenders are considered predatory when their practices, [...]