Another week has gone by with more than a few dour pronouncements about “the real estate market” as a whole—so future Costa Mesa buyers and sellers were offered a pleasant break with the publication of authoritative Freddie Mac’s counter-narrative on Thursday. Freddie is the government-sponsored, publicly traded corporation founded to support the secondary mortgage market. “Freddie” is the moniker that shortens its actual name (“The Federal Home Loan Mortgage Corporation”) into something that those of us who aren’t full-time financial analysts can identify as the entity that greases the wheels of the mortgage markets. It makes them work better.
At any rate, Freddie’s Thursday release summarized progress toward a less daunting mortgage environment. Its title (“Mortgage Rates Continue to Decrease”) said it all. Not only were the latest mortgage rates headed downward, but they were continuing in an ongoing direction: the very definition of a trend. It was one that was certain to provide “a much-needed boost to the housing market.”
Freddie’s pronouncements are based on its “Primary Mortgage Market Survey,” which is a proprietary survey it developed to measure rates throughout the country. That’s no minor feat since there are so many different reporting standards throughout our diverse nation. This week may mark the beginning of more accurate statistics from the PMMS as well. Last week was the debut of a number of alterations in the way it is compiled—most significantly, it is now based on the actual applications lenders file with Freddie, rather than summaries the lenders compile. In case that seems to reflect a certain lack of faith in the lenders’ attention to accurate reporting, Freddie itself didn’t comment (although sharp-eyed readers might notice that Freddie called the change “an enhancement”).
All in all, Costa Mesa buyers and sellers had some favorable momentum to contemplate as the traditional busy season approaches. Call us when you’d like to explore the opportunities already at hand!

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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