Calif. median home price – December 07: $475,460   Calif. highest median home price by C.A.R. region December 07: Santa Barbara So. Coast $925,000   Calif. lowest median home price by C.A.R. region December 07: High Desert $244,330   Calif. First-time Buyer Affordability Index – Third Quarter 07: 24 percent   Mortgage rates – week [...]

The Federal Reserve slashed its key federal funds rate three-quarters of a point to 3.5% Tuesday in an effort to stave off recession fears. “The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth,” the Fed said in a prepared statement. “While strains in short-term [...]