Costa Mesa’s home loan picture has presented buyers with rarely seen benefits for quite a while—but last week, the picture brightened even further. That isn’t to say that Costa Mesa mortgage rate quotes matched all-time lows—but they were coming pretty close.
Across the U.S., the numbers quieted even the most pessimistic observers. What it will mean as Costa Mesa enters the traditional peak home sales months is something we will have to wait to see. But if the likelihood for a surge in nationwide activity is any indicator, last week saw green lights flashing. A sampling of what was being hailed from virtually all quarters:
The Wall Street Journal: “Falling Rates Could Boost Mortgages Ahead of Spring Selling Season.”
MarketWatch: “This could be the ‘last affordable’ spring home-buying season for a while…”
CNBC Power Lunch: “The average 30-year fixed fell to 3.71%—almost a full percentage point lower than a year ago—and that sent current borrowers rushing to refi.”
FreddieMac.com: “The 30-year fixed-rate was the lowest in three years.”
Mortgage News Daily found the rate drop surprising—actually convention-defying. Rates “managed to move appreciably lower” despite Friday’s strong showing in the employment numbers. “Today’s big jobs report” should have led to higher mortgage rates. That it didn’t was an indication of “some more staying power” than industry experts usually expect.
The technical factors affecting home loan rates are difficult to keep up with—and impossible to predict with any confidence. What’s easier to know is that today’s home loan picture creates opportunities for Costa Mesa mortgage rate shoppers—which makes it terrific for buyers and sellers. If you would like to explore how you might take advantage of what continues to be a rarely seen buying and selling environment, do give me a call!