Los Angeles Real Estate Blog & Market Updates

Mortgage brokers usually offer buyers more flexibility and a wider range of loan programs than banks, but banks can still be the right choice when a buyer already has a strong relationship with their existing bank. The smartest move is to get at least three quotes and compare them side by side.

The 30-year fixed mortgage rate fell to 6.30 percent this week, marking two straight weeks of declines and a four-week low. But the LA County data tells a more nuanced story: both pending and closed escrow numbers have declined over the past three weeks. Rates are moving in the right direction. The market has not caught up yet.

Mortgage rates fell last week to 6.37 percent, the first meaningful drop in weeks. Buyer activity across the Westside of Los Angeles and the San Fernando Valley has picked up noticeably. Rates update again Thursday, April 16, and I will be watching closely.

Most buyers in Los Angeles can go from starting the process to keys in hand in about 60 to 100 days, depending on preparation and how specific their search criteria are. The biggest factors that slow things down are skipping pre-approval upfront and making large purchases during escrow.

Wooden blocks spelling out "MORTGAGE" are arranged on a table, with a small house-shaped keychain and keys beside them, symbolizing home ownership. By Leegie Parker | Real Estate Advisor, Compass | Los Angeles | DRE 01020534 I have been helping people buy and sell homes in Los Angeles since 1989. In that time, I have watched the mortgage business change dramatically. It has become more complex, more document-intensive, and more stringent with every passing decade. What w