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The numbers

  • Median price: $699,000 in November, up 18.5% from a year ago.
  • Homes sold: 508,820 homes in November, up 26.3% from a year ago.
  • Mortgage rates: 2.79% for a 30-year loan, up from 2.65% a week ago. Last year, the rate was 3.65%.

Also, millions of California homeowners could save hundreds of dollars every month by refinancing their loan, mortgage applications soar, buying the California dream is more like a nightmare for first-time buyers, and big-city blues for landlords but bargains for renters.

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