Spring Into Action- April Market Update

Spring has officially arrived in Orange County — and honestly, can it get any better than this? The jacarandas are blooming, the ocean breeze is back, and whale-watching season is in full swing off Dana Point. If you haven't made it down to the harbor yet this spring, put it on your list. It does everyone some good.

I'm here with your monthly roundup of what's happening in the world of real estate and mortgage lending, and a few local goings-on you won't want to miss. Grab your coffee — let's dig in!

 WHAT'S HAPPENING WITH INTEREST RATES?

 

Here's the good news: rates are more settled than they've been in a while. As of this week, the conforming 30-year fixed is hovering right around 6.22–6.46% (depending on your loan type and lender), and the 15-year is sitting near 5.72–5.77%. VA loans are even sweeter — we're seeing 30-year VA rates around 5.90%.

Here's the context: after rates dipped below 6% briefly in February (I know — don't hate me for mentioning it), they bumped back up in March amid some geopolitical turbulence and a couple of stubborn economic reports. The Fed held rates steady at their March meeting and will meet again April 28–29. Most forecasters expect them to stay put for now.

The silver lining? Rates today are still lower than they were a year ago at this time (6.64% in April 2025). And experts are still forecasting a gradual drift downward as 2026 progresses — Fannie Mae is projecting rates could dip closer to 6% by year-end. Not a dramatic drop, but movement in the right direction.

Bottom line: buyers who've been on the sidelines waiting for rates to fall dramatically may want to reconsider. Rates in the mid-6s with the ability to refinance later is still a sound strategy — especially in a market where home values are holding strong.

ORANGE COUNTY REAL ESTATE: SPRING MARKET UPDATE

 

Spring selling season is officially here, and the OC market is showing some really interesting dynamics right now.

The median sale price in Orange County is sitting around $1.2 million — basically flat compared to this time last year, which actually tells a healthy story. We're not seeing the wild appreciation of 2021–2022, but we're also not seeing the corrections some predicted. Values are holding.

Inventory is slowly, steadily improving. Active listings are up about 11% year over year, and we've got around 2.5 months of inventory for detached single-family homes and 3.1 months for attached (condos and townhomes). That's still technically a seller's market for detached homes, but buyers have a little more breathing room than they did a year ago.

What does that mean practically? Well-priced, well-presented homes are still moving — and multiple offers are still happening on the right properties. Overpriced homes are sitting longer, and sellers who price to the market are winning. The days of "price it high and see" are over for now.

For buyers, this is actually a really decent window. More options, less frenzy, and sellers who are often more open to negotiating on terms — rate buydowns, closing costs, repairs. This is the market where having a great lender in your corner (ahem 😊) makes a real difference.

LOAN SPOTLIGHT: ARE YOU LEAVING MONEY ON THE TABLE?

 

A quick note for my realtor and financial planner friends — I've been having a lot of conversations lately about clients who simply don't know what programs are available to them. Here are three worth mentioning:

VA Loans: If you have a client who served — or whose spouse served — and they're not using their VA benefit, please send them my way. No down payment, no PMI, and today's VA rates are some of the best out there. It's one of the most underutilized benefits in the country.

Non-QM Lending: Self-employed clients, real estate investors, foreign nationals — traditional bank guidelines often don't work for them. Non-QM loans open doors that conventional lending closes. Bank statement loans, DSCR (Debt Service Coverage Ratio) loans for investors — I have great programs.

Reverse Mortgages: For clients 55+, the reverse mortgage has evolved. It's a legitimate financial planning tool — not the last resort it used to be perceived as. CPAs and financial advisors: let's talk about how this fits into a retirement income strategy for your clients.

SPRING IN ORANGE COUNTY — WHAT'S COMING UP

 

Because we don't just live here for the real estate — we live here because it's genuinely one of the most beautiful places on earth. Here are a few things happening this spring:

Newport to Ensenada Yacht Race (April 24–27): One of the oldest international yacht races in the world, departing from Newport Beach. Even if you're not racing, the send-off is spectacular to watch from the harbor.My husband is crewing on a Benetau and I will be taking the DPYC bus down to Ensenada to cheer them on!!

Whale Watching at Dana Point: We're smack in the middle of blue whale migration season — the largest animals on Earth are passing right by our coastline. Captain Dave's and the Dana Point Harbor have great seasonal tours.

Festival of Arts prep, Laguna Beach: The famous Pageant of the Masters and Festival of Arts kick off in July, but artist jurying and early season events are happening now. A great client gift idea, by the way — tickets go fast.

 

As always, I'm just a call or text away — whether you have a client with a tricky loan scenario, a question about rates, or just want to grab coffee and catch up. I truly love what I do, and I love the community of people I get to do it with.

Wishing you a beautiful April — get outside and enjoy that OC sunshine!

Warmly,

Karen and The Card Team