Welcome to "Rates and Real Estate," where we keep things real, simple, and totally approachable when it comes to mortgage rates and the LA housing market. I know the world of real estate can feel overwhelming, especially with rates constantly changing. That’s why I’m here to break it down in a way that’s easy to understand, so you feel empowered and informed, whether you're buying your first home or adding to your investment portfolio. Think of this series as your inside scoop on how rates impact your dreams of owning a home—and how we can navigate the market together!

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9/10/24 HERE’S THE LATEST:

If you've been dreaming of buying a home, you might be in luck. The average 30-year fixed mortgage rate has fallen to its lowest point since April 2023. Can you believe it? That’s over a 1.25% drop in the last five months (according to Redfin, for every 1% drop, 4-5 million buyers will become qualified to buy (or buy more of) a home. 

Here’s what’s happening: as the economy settles into a better rhythm, the Fed is getting more in sync with the idea of future rate cuts. But here’s the fun part—mortgage rates don’t wait for the Fed to make the first move. They've already started trending down, which is why we’ve seen such a big improvement over the last few months. Even though the Fed hasn’t officially dropped their rates yet, mortgage rates are making moves all on their own.

Last week? Another win. Rates were already hanging out at long-term lows, and they dipped just a bit more. It wasn’t a huge drop, but hey, any improvement is worth celebrating—especially when we’re talking about already low rates.

If you’re ready to jump into the home-buying process or want to chat more about what this means for you, I’m here to help. Let’s make that dream home a reality, one low rate at a time!

Talk soon,

Jason Bergman

“The Best Real Estate Agent in Los Angeles”

P.S. It’s always a good time to explore your options! Feel free to reach out with any questions .