The direction of Costa Mesa home loan interest rates has been spurring concern among this spring’s house hunters. Last week the trend continued as U.S. rates spawned headlines dotted with phrases like “highest in 13 years” and “Fed hits housing market.” Even for industry reporters at The Mortgage Reports—scribes who tend to emphasize the bright side—the best anyone could come up with on Thursday was, “Rates steady-ish today.” Fox Business struggled to find some positive spin, but settled for “Refinance Rates Plunge to 3-Week Low” (refi rates “plunged” from 5.37% to 5.125%).

Still, for those of us who choose to follow Louis Armstrong’s advice to “just direct your feet/to the sunny side of the street,” there were some optimism-tinged media reports:

  • From “Homebuyers are giving ARM loans a new look…” For Costa Mesa homebuyers who plan to buy another home before the initial rate period expires, adjustable rates are still starting at very inviting levels.
  • From Citizens Bank: “The Fed’s hike doesn’t directly affect mortgage rates…[and have] “likely already been factored into rates.”
  • From [recommending whether to lock current rates]: “7 days-lock; 15days-lock; 30 days-lock; 45 days-lock; 60 days-lock.”
  • From PBS’s Newshour: “The central bank will start reducing its large holdings—a policy tool the Fed uses to keep long-term interest rates, like those on mortgages, low.”
  • From TIME: “The big rise so far this year for mortgage rates likely won’t continue [rising] at that speed for long….

In fact, scribes would have done well to recall government-sponsored Freddie Mac’s data for a sunnier perspective. The record shows what prospective Costa Mesa homebuyers would be reassured to see: in NextAdvisor’s words, “Historical Mortgage Rates: Today’s Rates Are Still Favorable.” A chart entitled “Mortgages Rates History as of March 1, 2022” illustrated the point—beginning in the Year 2000, the line traces a marked decline from where rates stood at the start of the millennium: at 8.33%!

When today’s Costa Mesa house-hunters zero in on a home they’ve been hoping to find, it’s reassuring to realize that rates are still in historically favorable territory—then, to give us a call!

We are built on a philosophy of Heritage & Hustle. The L3 is a full service real estate agency with a regional office located in the heart of #CostaMesa, offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976.  It’s L3 mission is to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. The L3 was originally formed to offer personal, concierge-level service as an alternative to the large, nationally based real estate companies. From its small beginnings of only two employees, The L3 has grown to a full staff of 25 serving over 300 clients a year. The L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has The L3 donated hundreds of hours to many area charities, they have also received the prestige of being named one of the #toprealestatecompaniesinCostaMesa  If you’re interested in #buyingorsellinginOrangeCounty, turn to the experts. Turn to The L3 and let them help you make your real estate buying or selling dreams come true. For more information or to get started on finding or selling your home contact The L3 today at 714-444-4663 or email us at




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