Bellingham Mortgage Rates – Bellingham, Washington, is a dynamic city with a mix of urban and rural regions that is popular for its great quality of life, education, and community participation. The city is popular for its natural beauty, thriving arts, culinary scene, and welcoming people. To help you learn more about this city, we have compiled a guide that will not only go over the benefits of living in Bellingham, but also inform you about its real estate trends and the current mortgage rates.
Bellingham is a city on the Bellingham Bay shoreline that may be found in the northwest state of Washington. Natural beauty surrounds the city, including the Cascade Mountains, the San Juan Islands, and the Pacific Ocean. The region has a rich history that dates back to the indigenous people who lived there for thousands of years.
The city also includes a network of hiking, bicycling, and jogging paths, giving inhabitants plenty of opportunity to enjoy the great outdoors. Many home purchasers are also drawn to Bellingham’s booming cuisine and cultural scene.
There are several restaurants, cafés, and breweries to pick from, as well as art galleries and performance places that provide a wide spectrum of cultural activities. Throughout the year, the city also hosts many farmer’s markets and culinary festivals that highlight local and organic foods.
Perks Of Leaving In Bellingham
- Proximity to Other Cities: The Pacific Northwest’s other main cities, including Seattle, Vancouver, and Portland, are all within an hour’s drive of Bellingham. This makes it simple for locals to visit these places for day excursions or weekend breaks and to see everything they have to offer. This is ideal for folks who desire to live in a small town but want easy access to larger cities.
- Great Education: One of the best public institutions in the area, Western Washington University, is located in Bellingham. This gives locals access to a wide range of educational possibilities, including undergraduate and graduate programs, research initiatives, and community education sessions. This is ideal for students and anyone who desires to further their education.
- Low Cost of Living: In comparison to other cities in the region, Bellingham is comparatively inexpensive. The cost of living is cheaper than that of Seattle and Portland, making it an excellent choice for people trying to save money or stretch their budget. This is ideal for anyone looking to live in a lovely location without breaking their budget.
- Great Healthcare: Bellingham’s healthcare system is offering several hospitals, clinics, and healthcare providers. PeaceHealth St. Joseph Medical Center is the city’s primary hospital. Additionally, Bellingham has an extensive network of community health facilities that offer basic medical care, behavioral health services, and dental care to disadvantaged and low-income people.
- Transportation: Bellingham has a diverse transportation system that includes buses, trains, and ferries. The Whatcom Transportation Authority (WTA) operates the city’s public transportation system, which provides bus service across the city and to neighboring communities. The Amtrak train service and the Alaska Marine Highway ferry system also serve Bellingham, connecting it to other communities in the region.
Real Estate Trends In Bellingham
We have compiled the real estate trends in Bellingham below to give you an idea of what the housing market looks like at the moment. It is important to note that these numbers change and it’s advisable that you conduct further research to stay up to date with all of these changes.
According to Movoto
- Bellingham, WA currently has 402 home listings and 29 new houses for sale.
- Homes in Bellingham, WA sell after 681 days on the market on average, compared to 388 days last year.
- In December 2022, 253 residences were sold in Bellingham, WA, up from 40 the previous year.
According to Redfin
- Homes in Bellingham receive two offers on average and sell in around 23 days.
- Last month, the average sale price of a property in Bellingham was $610K, up 4.1% from the previous year. Bellingham’s average sale price per square foot is $366, up 3.2% from last year.
Current Mortgage Rates In Bellingham
- The 30-year fixed mortgage rate in Washington has increased to 5.97%.
- Current Washington average 30-year fixed mortgage rates increased by 2 basis points, from 5.95% to 5.97%. Today’s mortgage rates in Washington are the same as the national average of 5.97%.
- The Washington mortgage interest rate for January 22, 2023, is up 11 basis points from last week’s average Washington rate of 5.86%.
- Furthermore, the current average 15-year fixed mortgage rate in Washington has stayed unchanged at 5.00%, while the current average 5-year ARM mortgage rate has dropped 15 basis points from 5.57% to 5.42%.
Note: These mortgage rates are referred from Zillow and updated as of Sunday, January 22, 2023. However, keep in mind that the information provided on mortgage rates is based on market conditions and is subject to change; it is not a guarantee of loan terms or availability. Before making any mortgage decisions, it is critical to contact a mortgage specialist or lender.
Conclusion
Bellingham is a fantastic city to live in. The city is situated in a lovely setting, wedged between mountains and the sea. It is a lively and welcoming neighborhood with much to do. There is a thriving arts and cultural sector in the city, with several galleries and performing spaces. The culinary scene is also fantastic, with several restaurants and cafés to pick from. It’s a terrific spot to live if you enjoy the outdoors, as there are several hiking, biking, and camping opportunities nearby.
Reliance Financial provides a comprehensive selection of home loan alternatives to fit the demands of clients. We also service the majority of the loans we complete, so you can be certain that we will be there for you for the duration of your loan. We offer the goods and services to fit your needs, whether you are a first-time purchaser or an experienced investor. If you’re looking for an affordable mortgage rate in Bellingham, Reliance Financial is your best choice. For more information about purchasing your own home in Bellingham, please contact us at sales@reliancefinancial.com.
