📊 Mortgage Rates Ease — Borrowers Return to the Market
Lower mortgage rates are starting to bring buyers and homeowners back into action, signaling potential momentum as we approach the spring housing season. According to the Mortgage Bankers Association, overall mortgage demand rose 2.8% last week — the first increase in nearly a month.
The average 30-year fixed rate dropped to about 6.09%, while 15-year loans fell to 5.44%, helping revive refinance activity. Refinance applications jumped 7% week-over-week and are up more than 130% compared to last year, showing that many homeowners are taking advantage of improved borrowing conditions.
Interestingly, purchase applications dipped slightly week-to-week but remain 8% higher than a year ago, suggesting buyer interest is still building — especially as inventory grows and pricing becomes more negotiable.
🏡 What This Means for Buyers & Sellers
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Buyers: Lower rates increase purchasing power and create stronger negotiating opportunities as the market balances.
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Sellers: More borrowers returning to the market means more potential qualified buyers heading into spring.
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Homeowners: This could be an ideal window to review refinance options if you purchased during higher-rate periods.
Economists are predicting a busier spring market, with improving affordability, stabilizing prices, and increased listings creating a more balanced environment — something we’re already starting to feel locally in areas like Westlake Village, Thousand Oaks, and surrounding Conejo Valley communities.
📞 Thinking about buying, selling, or refinancing?
My trusted team of lending and real estate experts can help you navigate the changing market and position you for success this spring. Reach out anytime — I’m here to help you make smart moves with confidence.
— Tina Lucarelli
ListWithTina | The ONE Luxury Properties
