By last Friday, anyone planning Costa Mesa real estate dealings would have been following the week’s developments on the mortgage interest rate front. Since Costa Mesa’s mortgage interest rates are the most volatile factor influencing affordability, changes can have large consequences.
The key information source in that arena is the Mortgage News Daily, a must-read for industry insiders. As soon as Wednesday’s big news broke—the Federal Reserve’s decision to hike its benchmark interest rate—it made for interesting reading.
If the Fed’s morning announcement had most everyone expecting a quick move to higher Costa Mesa mortgage rates, by noon MND readers would have been less certain. By Wednesday afternoon its lead headline was “Mortgage