A Brief Drop Below 6% Showed How Rate-Sensitive the South Bay of Los Angeles Has Become

For two weeks earlier this year, 30-year mortgage rates dipped below 6% in the South Bay of Los Angeles. Multiple offers materialized on properties that otherwise would have sat, and homes sold for $50,000 to $100,000 over list price. Then geopolitical conflict pushed oil prices and rates back up, and the market cooled just as […]