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California real estate is among the most expensive in the country, so getting the most competitive rate is essential for homebuyers looking to save money where they can.
One of the best ways to get the lowest possible mortgage rate is to comparison shop by comparing rates from multiple lenders.
What are the Current Mortgage Rates in California?
As of Wednesday, July 20, 2022, mortgage rates averaged the following in California, according to Bankrate data:
30-year fixed:5.80%
15-year fixed: 5.03%
5/1 ARM:3.94%
The 30- and 15-year rates track above the national averages published by Freddie Mac, while the 5/1 ARM is just below. Here are the national home loan rate averages for the week ending July 14: the 30-year, fixed-rate mortgage was 5.51%; the 15-year, fixed-rate mortgage was 4.67%; and the 5/1 adjustable rate mortgage (ARM) was 4.35%.
What Kind of Mortgage Is Right for You?
For those who want to maximize their dollars to ensure the highest return on investment, finding the right mortgage is essential. Some borrowers might think the best way to save money is to pay off their mortgage faster—by opting into a shorter loan term with higher monthly payments—but that's not always the case.
If you canlock in a low mortgage rateit might be better to get a 30-year loan and put the extra money you save on monthly payments toward something that has a higher return on investment, likecredit card debtor other high-interest loans.
Choosing the right mortgage depends on your financial situation and goals. A mortgage with lowdown payment requirementsmight make sense for some, while others may need a jumbo mortgage.
But there are several types of mortgages that tick a variety of boxes, here are some to consider:
Conventional Mortgages
Conventional mortgagesare loans that conform to Fannie Mae and Freddie Mac underwriting standards. These are the most common mortgages that are not backed by the government.
Conventional mortgages tend to have stricter qualifications than government-backed loans, but they also offer advantages, such as looser home inspection standards and the ability to dropprivate mortgage insurance (PMI)after reaching 20% equity (without refinancing).
FHA Loans
Federal Housing Administration (FHA) loans have lower interest rates and only require a 3.5% down payment.
The downside ofFHA loansis if you put less than 20% down, you must pay a mortgage insurance premium (MIP) which can't be removed unless you refinance into a conventional mortgage.
VA Loans
Department of Veterans Affairs (VA) loans are only for active-duty military and veterans and their spouses.VA loansare advantageous because there are no down payment requirements, credit requirements aren't as strict and your closing costs can be rolled into the loan.
United States Department of Agriculture (USDA) loans are for homebuyers in rural and designated USDA areas. Similar to VA loans,USDA loanshave no down payment requirements and the credit requirements are looser than conventional mortgages.
What You Should Know About Buying a Home in California
Right now, California property taxes are among the lowest in the country. According to the Tax Foundation, California's property taxes were the fourteenth lowest in the U.S., with state and local property taxes amounting to $2,411 per capita.
Help for First-time Homebuyers
Buyers who need some assistance with a down payment or closing costs can take advantage of California's many assistance programs. Some of these programs are designed to helpfirst-time homebuyers(those who have not owned a home in three years) as well as low- and mid-income buyers.
The California Housing Finance Agency, or CalHFA, has several programs designed to help buyers achieve homeownership. Some of these programs include grants, no-interest deferred loans and financial assistance for the construction of accessory dwelling units (ADUs).
Today, the U.S. Department of Veterans Affairs announced that eligible Veterans, active-duty Service members, and surviving spouses who use the VA-guaranteed home loan benefit can pay for certain real estate buyer-broker fees when purchasing a home.
This will help ensure that Veterans remain competitive and are not disadvantaged on the homebuying market due to changes that may result from a key class-action settlement involving the National Association of REALTORS®, which is slated to take effect later this summer. Until today, Veterans could not pay their buyer-broker fees when using their home loans benefits.
C.A.R. and NAR met with the VA and collaborated with industry partners, and held hundreds of meetings on Capitol Hill during the NAR's Legislative Meetings in May to advocate for this change.
The temporary measures will help ensure that Veterans are not negatively impacted by the class-action settlement. VA will continue to monitor how the settlemen...
Avocados are a source of key nutrients, including healthy fats and fiber. They also contain anti-inflammatory and antioxidant compounds and may help reduce heart disease risk.
Nutritious, versatile, and delicious, avocados have become a kitchen staple in many homes around the world.
While some people refer to avocados as fruits and some people say they're a vegetable, avocados(Persea americana)are actually considered berries. They're a member of the Lauraceae plant family, which also includes the cinnamon tree (1Trusted Source).
Avocados are native to Mexico and Central America, but they are cultivated in many areas of the world, including North America.
In the United States, California is the top producer of avocados and is home to more than 5,000 avocado farms, which generate over 400 million pounds of avocados each year (2).
These fruits are an important part of traditional Mexican, Central American, and South American cuisine and are used in dishes like guacamole, salads, tacos, and more.
Avocados are extremely popular in the health and wellness world because they're highly nutritious and have been linked to several health benefits.
This article lists 7 benefits of eating avocados, including more about nutrition, weight loss, and how to enjoy them.
Avocados are high in a number of important nutrients, many of which are lacking in modern diets.
Here is the nutrition breakdown for a 7-ounce (201-gram) avocado (3Trusted Source):
Calories:322
Fat:30 grams
Protein:4 grams
Carbs:17 grams
Fiber:14 grams
Vitamin C:22% of the daily value (DV)
Vitamin E:28% of the DV
Vitamin K:35% of the DV
Riboflavin (B2):20% of the DV
Niacin (B3):22% of the DV
Pantothenic acid (B5):56% of the DV
Pyridoxine (B6):30% of the DV
Folate:41% of the DV
Magnesium:14% of the DV
Potassium:21% of the DV
Copper:42% of the DV
Manganese:12% of the DV
As you can see, avocados are exceptionally nutritious fruits and are a concentrated source ofhealthy fatsand fiber, plus a number of vitamins and minerals.
They're rich in nutrients that are often lacking in many people's diets, including magnesium, B6, vitamin C, vitamin E, and folate (4Trusted Source).
For example, half of an avocado packs 10% of the DV for potassium.
Potassiumis considered a "nutrient of public health concern" by the U.S. Department of Health and Human Services. This is because it's a mineral that Americans commonly do not consume enough of (5Trusted Source).
In fact, a study that included data on 4,730 U.S. adults found that fewer than 3% had potassium intakes greater than the set adequate intake for potassium of 4,700 mg per day (6Trusted Source).
Potassium is needed for several critical bodily functions, including blood pressure regulation and nervous system function. Getting the recommended amount of potassium on a daily basis may help protect against hypertension and stroke (7Trusted Source,8Trusted Source).
Half of an avocado provides 15% of your daily needs for B6, a nutrient that helps suppress inflammation and protect against oxidative damage. Inadequate B6 intake may negatively impact immune function and increase susceptibility to illness (9Trusted Source,11Trusted Source,12Trusted Source).
While severe B6 deficiency is rare, having suboptimal or slightly deficient levels is more common, even in the United States and Canada (13Trusted Source).
Avocados contain an abundance of nutrients that are essential for optimal health, and regularly consuming avocados could help improve overall diet quality.
SUMMARY
Avocados are rich in many nutrients, including fiber, healthy fats, vitamin C, vitamin E, vitamin B6, potassium, magnesium, and folate. Enjoying them regularly could help improve overall diet quality.
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Avocados are high in fiber, providing about 14 grams in each avocado. That's nearly half of the current DV for this important nutrient (3Trusted Source).
Getting enough fiber in your diet is essential for the health of the digestive system because it helps promote the growth ofhealthy bacteria.
A study with 163 adults considered overweight found that people who consumed 175 grams (men) or 140 grams (women) of avocado daily for 12 weeks had lower fecal bile acid concentrations and increased bacterial diversity compared to a control group (14Trusted Source).
Greater bile acid concentrations induce intestinal inflammation and are related to the growth of microbes associated with negative health outcomes like colon cancer (15Trusted Source).
Additionally, the avocado group had more of the bacteriaFaecalibacterium, Lachnospira, andAlistipes, all of which produce short-chain fatty acids (SCFAs), including butyrate.
Even though these findings are promising, this study was partially funded by the Hass Avocado Board, which could have influenced study results.
Also, keep in mind that allfiber-containing foods, including fruits, vegetables, nuts, and seeds, are important for gut health. The most important factor in supporting digestive health is eating a variety of fiber-containing foods, not just avocados.
SUMMARY
Avocados are rich in fiber, which is essential for a healthy digestive system. Some evidence suggests that consuming avocados may benefit the health of the gut by improving bacterial diversity and reducing fecal bile acid concentration.
3. May help reduce heart disease risk factors
Regularly consumingnutrient-dense foodslike avocados could help protect against heart disease.
The vitamins, minerals, healthy fats, and fiber found in avocados all play a role in keeping the cardiovascular system healthy.
Study findings suggest that an avocado-rich diet may help improve heart disease risk factors, which may help prevent the onset of heart disease.
Many studies investigating the effects of avocados on heart health were funded by the Hass Avocado Board. Even though this doesn't discredit study findings, some experts suggest that industry involvement in peer-reviewed research could skew results (19Trusted Source).
Nonetheless, avocados may help increase heart-protective HDL cholesterol and decrease levels of oxidized LDL cholesterol, a type of cholesterol that's significantly associated with atherosclerosis, or the buildup of plaque along artery walls (20Trusted Source,21Trusted Source).
Additionally, the high potassium and magnesium content of avocados is beneficial for blood pressure regulation. Keeping blood pressure at a healthy level is critical for heart disease prevention (22Trusted Source).
SUMMARY
Avocados may help increase levels of heart-protective HDL cholesterol and decrease levels of oxidized LDL cholesterol, a type of cholesterol that's significantly associated with atherosclerosis, or the accumulation of plaque along artery walls
4. A rich source of antioxidant and anti-inflammatory compounds
In addition to vitamins, minerals, healthy fats, and fiber, avocados are packed with bioactive compounds includingcarotenoids, vitamin C, vitamin E, and phenolic compounds (23Trusted Source).
These substances have been shown to have significant antioxidant, neuroprotective, and cardioprotective activities.
For example, carotenoids found in avocados including lutein, α-Carotene, and β-Carotene have been shown to have strong antioxidant effects, protecting against oxidative damage, which is associated with the progression of many chronic diseases (24Trusted Source).
Because avocados are high inantioxidants, regularly eating avocados may help increase the body's antioxidant defenses.
A small study that included 45 people found that eating an avocado a day increased blood levels of the carotenoid lutein compared with a typical Western diet without avocado (20Trusted Source).
Avocados are an excellent source of antioxidant and anti-inflammatory compounds like vitamin C, vitamin E, and the carotenoid lutein.
5. May help promote a healthy body weight
Although there are multiple factors that influenceweight, following a nutritious and balanced diet is perhaps most important when it comes to reaching and maintaining a healthy body weight, which is critical for disease prevention.
Although avocados are high in calories, they're packed with nutrients and help promote satiety, thanks to their high fiber and healthy fat content.
Research shows that following a dietary pattern rich in fibrous foods, like fruits andvegetables, may help support weight loss. Plus, people who eat more fiber tend to maintain healthier body weights compared to those who follow lower fiber diets (30Trusted Source,31Trusted Source).
In a study that included 345 people, it was found that fiber intake was the most influential predictor of body weight, independent of calorie and macronutrient intake (32Trusted Source).
However, nearly all studies investigating the effects of avocado consumption on weight loss are funded by the Hass Avocado Board. Again, although this doesn't discredit study results, food industry funding may influence study outcomes.
Regardless, it's clear that increasing foods rich in dietary fiber likely promotes weight loss by promoting satiety. So, eating more high-fiber foods, like avocados, may be a good choice for those wishing topromote weight lossor maintain body weight.
SUMMARY
Following a diet high in fiber has been associated with body weight maintenance. Some studies suggest that avocados may help improve satiety, enhance weight loss, and reduce belly fat. However, many of these studies are funded by the Hass Avocado Board, which may have influenced study results.
6. A smart choice during pregnancy and breastfeeding
Folaterequirements increase from 400 μg to 600 μg.
Potassium needs jump from 2,600 mg to 2,900 mg.
Vitamin C needs increase from 75 to 85 mg.
Folate needs increase significantly during pregnancy. Unfortunately, many pregnant people around the world fall short of the recommended folate intake, which may increase the risk of pregnancy complications (37Trusted Source,38Trusted Source,39Trusted Source).
One avocado delivers 27% of the recommended folate intake during pregnancy (3Trusted Source).
Eating avocados can also help you reach the recommended intake levels for nutrients that are needed in greater amounts during pregnancy andbreastfeeding, like vitamin C, potassium, and B6.
Additionally, the high fiber content of avocados may help prevent constipation, which is extremely common during pregnancy (40Trusted Source).
For a satisfying pregnancy- and breastfeeding-friendly meal or snack idea, try stuffing half an avocado with salmon salad or chicken salad.
SUMMARY
During pregnancy and breastfeeding, your need for many nutrients significantly increases. Enjoying avocados is a smart way to get enough of certain vitamins and minerals like folate, potassium, vitamin C, and vitamin B6.
7. Versatile and delicious ingredient
In addition to being highly nutritious, avocados can be used in a number of recipes, both sweet and savory. This makes them a smart ingredient to have on hand.
Here are some ideas for how to incorporate more avocado into your diet:
Use avocado in place of mayo withGreek yogurtin chicken, salmon, egg, and tuna salads.
Make a classic guacamole using ingredients like avocados, onions, lime, and cilantro.
Top chicken breasts with a salad of tomato and cubed avocado.
Toss frozen avocado chunks into smoothies for a source of healthy fat.
Smash avocado on top of toast or a half roasted sweet potato.
Stuff avocados with chicken salad or bean salad.
Use avocados in tacos and burritos.
Blend avocado with olive oil, lemon juice, and seasonings for a quick and easy creamy dressing.
Top your favorite burger with sliced avocado.
Sprinkle an avocado half with a bit of coarse salt and pepper and enjoy it right out of the rind.
There are so many ways to use avocados, so don't be afraid to experiment.
If you're looking for a way to keep your avocados as fresh as possible, place ripe avocados in the refrigerator until you're ready to enjoy them.
If your avocado is still hard and green, let it sit on your counter for several days to ripen.
Ripe avocados are slightly soft to the touch and usually have a deep green color. If your avocado is very mushy and dents when poked, it's likely past its prime.
However, even overripe avocados can be incorporated into recipes like baked goods and dressings, so don't toss them unless they have a sour taste or smell, are moldy, or if the flash is extremely discolored.
SUMMARY
Avocados can be incorporated into both sweet and savory recipes like smoothies, desserts, soups, salads, and burritos. They can also be enjoyed on their own with a sprinkle of salt and pepper.
The bottom line
Avocados contain an impressive amount of nutrients and are especially rich in fiber, B6, vitamin C, potassium, vitamin E, folate, and copper.
Eating avocados regularly may benefit health in several ways, including protecting against heart disease, improving overall diet quality, improving satiety, and promoting gut health.
Plus, they're versatile and delicious.
Just one thing
Try this today:To give smoothies a creamy texture, I love adding a few chunks of fresh or frozen avocado to my blender. Avocado has a mild taste that pairs well with most smoothie ingredients. I love making green smoothies with kale, avocado, cucumber, lemon, ginger, parsley, and grapefruit juice.
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