Mortgage Rates Fall for the Fourth Straight Week — Will This Spark a Year-End Buying Surge?
After months of volatility, mortgage rates have fallen for the fourth consecutive week, marking their lowest point of the year and offering renewed hope to Southern California buyers and homeowners alike. As borrowing costs continue to ease, more house hunters are dipping their toes back into the market — while homeowners with older loans are watching for the right moment to refinance.
Rates Hit New Yearly Low
According to Freddie Mac’s latest Primary Mortgage Market Survey® (PMMS®), the average 30-year fixed-rate mortgage (FRM) slipped another two basis points this week to 6.17%, down from 6.19% the previous week. That marks a total decline of 87 basis points since mid-January, bringing rates to their lowest level since early 2022.
“The last few months have brought lower rates and homebuyers are increasingly entering the market,” said Sam Khater, Freddie Mac’s chief economist. For buyers who’ve been waiting for a more affordable entry point, this could be the opportunity they’ve been hoping for.
Fed Cuts Rate, But Caution Remains
This week, the Federal Reserve voted to lower the federal funds rate by 25 basis points, a widely expected move that was already reflected in most mortgage pricing. Still, Fed Chair Jerome Powell emphasized that another cut in December isn’t guaranteed, tempering expectations for a prolonged easing cycle.
In response, the 10-year Treasury yield — which mortgage rates often track — moved slightly higher, suggesting some upward pressure could return in the coming weeks if inflation data or trade developments surprise markets.
Market Outlook: Buyers Regain Leverage
“While the housing market remains challenging for many households, stable home prices, growing inventory, and a slower market pace may open the door for buyers looking to make a move before the year’s end,” said Realtor.com’s Senior Analyst Hannah Jones.
Here in Southern California, that sentiment rings especially true. With inventory up modestly year-over-year and price growth stabilizing, motivated buyers are finding more negotiating room than they’ve had in years. Sellers, meanwhile, are adjusting to a market that rewards accurate pricing and presentation.
🏡 Local Spotlight: Long Beach & Orange County
Long Beach:
The Long Beach market continues to balance steady demand with gradually improving inventory. The median sales price for single-family homes held near $1.02 million in September, up slightly from last year. Homes are spending an average of 30 days on market, compared to 24 days a year ago — giving buyers a bit more breathing room to make thoughtful offers. Increased inventory and fewer bidding wars are allowing more traditional negotiations to return.
Orange County:
Across Orange County, the median home price remains around $1.4 million, with slight annual appreciation of about 1.5%. Active listings have risen nearly 18% year-over-year, providing a wider selection for buyers heading into the holiday season. Homes are averaging 33 days on market, and sellers who price strategically are still seeing multiple offers. Overall, the market remains competitive but balanced — signaling healthier dynamics as rates stabilize.
What This Means for You
If rates hold near these levels — or edge even lower — we could see a late-year uptick in home sales, especially from buyers eager to lock in lower payments before 2026. Whether you’re considering buying, selling, or refinancing, this window of opportunity may not last long.
📩 Thinking about your next move? Let’s connect and discuss how today’s changing market conditions could work in your favor.
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7428 Bothwell Rd.
Reseda, CA 91335
5 Bed | 3 Bath | 2,420 SF | $750,000
Discover an exceptional opportunity in the heart of Reseda! This spacious 5-bedroom, 3-bath home offers approximately 2,420 sq. ft. of living space on a 5,388 sq. ft. lot, presenting the perfect blank canvas for investors, contractors, or buyers seeking a full renovation project. The home features a desirable two-story layout with generous living areas and excellent natural light potential. A main-level bedroom and full bath offer flexibility for multi-generational living, a convenient in-law suite, guest room, or a home office setup. Three spacious bedrooms upstairs with primary on-suite, walk in closet and extra shared full bathroom. With creativity and vision, this property can be transformed into a modern family retreat or a profitable investment. Located on a quiet residential street, just minutes from schools, parks, restaurants, and freeway access, this property combines a prime location with unlimited potential. Property is being sold in as-is condition with no repairs or credits. Bring your contractor and imagination to realize this home’s full potential.
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1849 Fanwood Ave.
Long Beach, CA 90815
3 Bed | 1 Bath | 1,054 SF | $949,000
Charming Remodeled Home in Highly Desirable Los Altos! Welcome to this beautifully updated 3-bedroom home, perfectly situated on a picturesque tree-lined street in one of Long Beach’s most sought-after neighborhoods. Just two blocks from the award-winning Minnie Gant Elementary School and one block from Cal State Long Beach, this home offers both charm and convenience in an unbeatable location. Step inside to find a bright and inviting interior featuring a stunning remodeled kitchen with sleek white soft-close cabinetry, granite countertops, new modern flooring, and stainless-steel appliances, including a 5-burner gas range. The updated bathroom shines with a stylish vanity and contemporary finishes. Additional highlights include dual-pane windows, modern ceiling fans in every bedroom, and original hardwood floors throughout the living areas and bedrooms.
Situated on an expansive 6,828 sq. ft. lot, the backyard offers exceptional space and privacy—perfect for entertaining, gardening, or even adding an ADU. A long driveway provides ample parking, with room for a boat or RV, plus a detached 2-car garage. Conveniently located near parks, shopping, Trader Joe’s, and major freeways, this Los Altos gem combines modern updates with classic charm in a prime location!
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4340 Pixie Ave.
Lakewood, CA 90712
5 Bed | 3 Bath | 2,459 SF | $1,199,000
Beautifully updated 5-bedroom, 3-bath home on a tree lined street in the sought-after Lakewood Mutuals neighborhood! Step inside to find new modern flooring, fresh interior and exterior paint, smooth ceilings, and custom wood shutters that add timeless charm. The open layout features a welcoming living room, a large dining area, and a bright kitchen with white cabinetry, new quartz countertops, and stainless steel appliances. The main level includes three bedrooms and two full baths, including a spacious primary suite with three closets (one walk-in) and a spa-like bath with dual sinks, walk-in shower, and jetted tub. Upstairs, two additional bedrooms and a full bath with walk-in shower provide flexible living space. The backyard is a private oasis with pavers that match seamlessly with the driveway making an expansive area that is perfect for entertaining day or night with ambient lighting, turf play area, or relaxing in the swim spa under the stars. Additional features include central heat and A/C, indoor laundry, and parking for up to 6 cars with a detached 2-car garage and long driveway.
Close to Lakewood Country Club, Bixby Knolls, and Long Beach Exchange (LBX), this home offers both tranquility and prime access to shopping, dining, and entertainment.
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4700 Clair Del Ave #620
Long Beach, CA 90807
2 Bed | 1 Bath | 779 SF | $385,000
Top-Floor Condo with Pool Views and Garage Parking! Welcome to this nicely updated 2-bedroom, 1-bath top-floor corner condo, offering abundant natural light and serene views of the sparkling pool and spa. Inside, you’ll find a spacious living area with newer dual-pane windows and modern laminate flooring. The open kitchen features white cabinetry, granite counters with a stylish tile backsplash, and gas range — perfect for cooking and entertaining. This home includes two dedicated parking spaces, one in a private garage and another reserved spot. The Clair Del community offers fantastic amenities including a pool, spa, barbecue area, two community rooms (one with a pool table and ping pong, and another available for private gatherings), plus two laundry facilities. With low HOA dues that cover water, trash, gas, and community upkeep, this is an excellent opportunity for convenient and affordable living.
Ideally located near Lakewood Country Club, Bixby Knolls, and the Long Beach Exchange (LBX), you’ll enjoy easy access to shopping, dining, and entertainment.
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179 Santa Ana Ave.
Long Beach, CA 90803
3 Bed | 3 Bath | 3308 SF | $1,937,000
Modern Coastal Luxury in the Heart of Belmont Shore!
Prepare to be impressed by this stunning 3-bedroom, 3-bath, four-story contemporary home offering over 3,300 sq ft of sleek, modern living. Located just steps from the best of Belmont Shore, this light-filled residence features an open-concept living area with hardwood floors, a gourmet kitchen with quartz island and stainless steel appliances, and multiple balconies to enjoy the ocean breeze. The luxurious primary suite boasts a double-sided fireplace, spa-like bath with soaking tub, and a custom walk-in closet. Additional highlights include a ground-level entertaining space with bar, private loft, laundry room, solar panels, and a two-car garage with extra parking. Thoughtfully designed for comfort, style, and coastal living, this is a rare opportunity you don’t want to miss!
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3445 S Pacific Ave.
San Pedro, CA 90731
3 Units | 6 Beds | 3 Baths | 2,742 SF | $1,100,000
Prime Triplex Just 2 Blocks from Cabrillo Beach – Ideal for Investors or Owner-Occupants!
Located the desirable Point Fermin are of San Pedro, this well maintained triplex is just steps from Cabrillo Beach and offers an incredible opportunity for investors or owner-users. Each of the three 2-bed, 1-bath units includes in-unit laundry hookups, dual-pane windows, and two parking spaces (garage + driveway). The front unit features a spacious patio with peek-a-boo ocean views, while the top-floor owner’s unit is move-in ready with updated kitchen and bath, laminate flooring, and crown molding. The large shared backyard is perfect for entertaining. Two units are tenant-occupied at below-market rents, with the top rear unit ready for occupancy. Projected gross income is $73,476/year with pro forma potential of $96,000/year. Subject to LA City Rent Control. Enjoy close proximity to beachside amenities, dining, and recreation in this sought-after coastal location!
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1811 Tevis Ave.
Long Beach 90815
5 Bed | 2 Bath | 2018 SF | $1,420,000
Stunning Remodeled 5-Bedroom Home in Highly Desirable Los Altos! This beautifully remodeled home is nestled on a picturesque tree-lined street in one of Los Altos’ most sought-after neighborhoods. Designed for modern living and entertaining, the open floor plan features hardwood floors, beamed ceilings, and custom paint throughout. The gourmet kitchen boasts sleek white cabinetry, black quartz countertops, a spacious island, and high-end GE Profile stainless steel appliances. Enjoy seamless indoor-outdoor living with a stunning wall of glass-pane doors that open to an entertainer’s patio and a beautifully landscaped backyard. Recent upgrades include a new roof and driveway in 2024, solar system with dual batteries in 2024, and new windows in 2023. Conveniently located near shopping, parks, Trader Joe’s, Cal State Long Beach, and award-winning Minnie Gant Elementary School—this home truly has it all.
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