June 2026 San Diego Housing Update: 6.5% vs. 3%—How One Mortgage Could Save You Over $20,000 a Year
June 2026 San Diego Housing Update: The Mortgage Rate Difference Buyers Need to See
San Diego buyers are still watching mortgage rates closely. But waiting for rates to drop may not be the only way to lower your payment.
$800,000 Loan Payment Comparison
| Rate | Payment | Savings vs. 6.5% |
|---|---|---|
| 6.50% Current Rate | $5,056/mo | — |
| 5.25% Lower Rate | $4,418/mo | $638/mo |
| 3.00% Assumable Loan | $3,373/mo | $1,683/mo |
Payment examples are principal and interest only based on a 30-year fixed loan. Taxes, insurance, HOA dues, mortgage insurance, closing costs, and loan fees are not included. Actual payments and qualification will vary.
Why This Matters in San Diego Right Now
A lot of buyers are waiting for rates to come down. The problem is, if rates drop, more buyers may jump back into the market at the same time. That can mean more competition, fewer choices, and less room to negotiate.
Right now, some buyers may have more options than they realize: homes with seller credits, rate buydown opportunities, off-market properties, and some homes with assumable low-rate loans.
A 3% assumable loan can make a massive difference. On an $800,000 loan, the payment difference compared with 6.5% is about $1,683 per month. That is over $20,000 per year in potential payment savings.
Thinking About Selling?
If you own a home in San Diego County, you may still have strong equity. Before you list, it makes sense to compare your options: traditional MLS sale, full market value cash offer, rent-back, or selling as-is without repairs.
Want the Numbers for Your Situation?
Call or text George Lorimer at 619-846-1244 for a quick strategy call.
Search homes, get your home value, compare a cash offer, or ask about San Diego homes with assumable mortgages.
George Lorimer
Call/Text: 619-846-1244
GeorgeLorimer.com
ProWest Properties | DRE# 01146839
Your Home Sold Guaranteed, or I’ll Buy It!* *Conditions apply.