A short article got Marketwatch.com’s month’s commentaries off to a fast start on February 1. It centered on a pair of numbers, and “What 2 Mortgage Numbers Say About Home Buying Right Now.

Here are the numbers—followed by “what they say” (or don’t say):

  1. The Mortgage Bankers Association’s composite index tracks the weekly volume of home loan applications. Last week it fell a seasonally adjusted 9%.
  2. The average 30-year home loan interest rate was 6.19%—the lowest since early September.

In a considerable understatement, MarketWatch observed that the first number—the drop in applications— “does not appear to have been driven by a rise in rates.” Since the rates had gone in the opposite direction, that would seem to be an unexpectedly droll summary.

So what gives? The MBA’s deputy chief economist commented that when, despite lower rates, application activity declines, it is “...an indication of the still volatile time of the year for housing activity.”

For Costa Mesa real estate watchers, that gelled with what many have observed through the years—that annually, as the market prepares for the expected brisk uptick that normally arrives with the traditional spring selling season, volumes of everything related to Costa Mesa real estate are usually so low that trends are hard to discern, as are cause-and-effect patterns. The result is “volatility”—when generalizations from the numbers aren’t as reliable as at other times of the year. In this instance, the MBA economist still “expects slower price growth and lower rates to lure buyers back” come spring.

One generalization that holds in every season is the wisdom of preparing for any future Costa Mesa real estate plans well ahead of time. Call us to help—we’d love to hear from you!

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 info@thel3.com






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