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Interest Rate Decline? Not in the Near Future.

Updated: Dec 7, 2023

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It's October! The month of cozy sweaters and pumpkin spice everything. Read on for a real estate update and to see what's happening around the County to celebrate this enchanting time of year!


San Diego Real Estate

Mortgage interest rates play a large role in the real estate market, and it is no secret, buyers have been faced with dramatically increasing rates since March 2022.

Earlier this year we opined that mortgage rates would start a gradual decline toward the low 6% range by the end of 2023, and to the mid 5% range by the summer of 2024. That no longer seems to be the consensus from economists and industry experts.

Last week, 30-year fixed mortgages hit a 23 year high, now trending closer to 8%. Based on the sentiment expressed at the most recent Fed meeting, the mortgage industry is now predicting mortgage interest rates will remain elevated well into 2024.

This extended increase in rates will continue putting pressure on both affordability and on the inventory of available homes for sale. Current mortgagees will hold on tighter to their sub 5% loans, further stifling options for those seeking to purchase.

In San Diego County our current inventory of available homes and condos for sale is 2749 units, the second lowest level since the economists at Reports on Housing began tracking in 2012. This is a mere 81 additional homes over the lowest levels seen in 2021. Inventory typically peaks in August, but we are expecting to see this peak in mid to late October due to the recent bump in interest rates. Nonetheless, we are still experiencing a Seller’s Market where home prices are rising, but not as rapidly as in the past 3 years.

There are a significant number of buyers waiting on the sidelines for interest rates to drop and when this happens, the demand will skyrocket, thus increasing home prices even further. Savvy buyers will see this window of opportunity to invest in real estate now, even at a higher interest rate, before the masses are willing or able to invest. Adjustable Rate Mortgages (both 3 and 5 year fixed) are trending in the 6% range, making securing and living in their dream home today more feasible. When rates decrease in the future, borrowers can refinance to secure a longer-term fixed rate.

There are opportunities out there to take the next step to invest in your future, let us educate and guide you through the process!


Furthering My Passion for Real Estate with the Military Community

It's my honor to announce that I was selected to be one of San Diego's Regional Directors for the newly formed Compass Military Division. We are a nationwide network of retired military agents, spouses of military member agents, and agents with extensive experience in VA transactions who have come together to support our veterans as they transition around the country. I have been representing and guiding clients in the home buying and selling process in San Diego County since 2003. With our region’s significant military concentration, I focus on providing a high-touch, solutions-oriented service to cater to the unique needs of active military personnel and veterans as they transition in and out of our beautiful county. If you or someone you know will be making a military move to or from San Diego, contact me and I'll be sure they are in good hands.


Thank You to All Who Attended the Chili Party

We had such a wonderful time seeing all of you at our annual client appreciation party! Thank you to everyone who attended and contributed to a beautiful evening. As a reminder, please send a photo of your pumpkin carving by October 30th to for your chance to win a prize. See you next year!


Recent Activity


3 BD 3 BA 1862 SF $1,050,000 Representing Seller


2 BD 3 BA 1266 SF $907,000 Represented VA Buyer


Local Happenings


The Scream Zone - Del Mar Fairgrounds

It's the scariest time of the year at the Del Mar Fairgrounds, with all new frightening attractions bound to make your bones rattle. Horror-enthusiasts and scaredy-cats alike are welcome to enjoy the carnival, food vendors, and photo ops. Tickets are on-sale now, click here!


La Jolla Art + Wine Festival

The annual La Jolla Art + Wine Festival is returning to the streets of La Jolla Village, bringing on the prestigious artists and wine vendors paired with a perfect coastal backdrop. This event is family friendly and completely free to attend (or call the babysitter and enjoy a tented beer and wine garden). Come say "hi" at our Compass tent too! Click here for more information.


Pumpkin Station

Pumpkin Station is bringing the autumn energy all over San Diego for you and your family to participate in finding the perfect Jack-O-Lantern no matter where you live. Locations will be available in Rancho Bernardo, Bonita, Missions Valley, Del Mar, and National City. Click here for more information.


Dia De Los Muertos

Celebrate this Mexican tradition of honoring loved ones through lively celebrations, food, and many incredible displays of San Diego's rich Mexican history. Events are ranging across the county on various dates. Click here to find the celebration closest to you.


Lifestyle Tips & Tricks

More Unmarried Couples Are Buying Homes Together...What to Know Before You Do.

More couples are becoming homeowners before tying the knot.

Unmarried couples make up 18% of all first-time homebuyers, up from just 4% in 1985, according to a 2022 report by the National Association of Realtors,

Best Housewarming Gifts

The Best Items for a Weekend Getaway - at first glance, the best items for a weekend getaway might seem like an odd fit for our best housewarming gifts series, compared to gifts for the kitchen, bathroom, or bedroom.

Maximize Property Value After a Disaster

The first 48 hours are critical to mitigating the costs of restoring a damaged home or business.

Best Places to Live in the U.S. in 2023-2024

To make the top of the list, a place had to have good value, be a desirable place to live, have a strong job market and a high quality of life.

10 Ways to Maximize Square Footage in a Small Bedroom

The secret to living large in a tiny bedroom is in the details.

Noel Wheeler




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