They were at it again last week—the party-poopers who wanted to quibble about what newspapers and broadcast media were proclaiming: a shattering of the record lows in mortgage interest rates. For Costa Mesa real estate followers, the argument missed what is most important: the bottom line that the rates being offered continue to create a heady environment for home buyers and sellers.
“Don’t Believe This Week’s Mortgage Rate News” headlined the Mortgage News Daily, which once again picked apart the underlying figures published by Freddy Mac. The government-sponsored entity had reported a mind-bending average rate on the 30-year mortgage of 2.80%! That, wrote Freddy, constituted “another record low…amid the release of new housing data reinforcing how the Federal Reserve’s move to make home loans more affordable is spurring growth in sales, prices, and construction nationwide.”
Unlike the MND, The Washington Post had no qualms about echoing Freddy’s claims. It quoted Realtor.com’s senior economist, who admitted he had expected mortgage rates to rise last week. He wasn’t completely surprised because investors who were “looking for someplace to put their money” were targeting mortgage bonds. The result was “lower yields and lower interest rates.”
The MND grudgingly admitted that news outlets couldn’t be expected to rain on the good news parade. “After all,” it snarled, “who are they to question the mighty Freddie Mac?” MND’s problem was with a lag in the days included in their numbers. And actually, as far as Costa Mesa real estate followers are concerned, even the MND had to admit something far more important: the difference was “not by enough that any consumer would notice it on a mortgage rate quote…”
For Costa Mesa real estate purposes, the financial green light constituted by historically low rates continues for area home buyers and sellers. Which also continues to be a great reason 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 email@example.com