Rates Ease, Buyers Pause, Inventory Grows: Nov. 5, 2026
Four things worth knowing today if you are buying, selling or own a home in Santa Clarita, Valencia, Saugus, Canyon Country, Newhall, Stevenson Ranch or anywhere in LA County.
Mortgage Rates Hit Their Lowest Since September, but Applications Slip
The Mortgage Bankers Association said the average 30-year fixed rate on conforming loans fell to 7.30% for the week ending Oct. 30, down from 7.37% the week before and the lowest level since September. Even so, total mortgage applications fell 1.2%, and purchase applications were 19% lower than a year ago. Adjustable-rate loans rose to 11.4% of all applications as more borrowers look for a lower starting payment.
What it means for you: rates are drifting down, while fewer buyers are applying. That can mean less competition for Santa Clarita homes for sale. If you are weighing a fixed rate against an ARM, compare the full cost over the time you plan to stay in the home. These are national averages, not a quote. Source: MBA. Freddie Mac’s weekly rate survey comes out today, Thursday, Nov. 5, at 9 a.m. Pacific (Freddie Mac PMMS).
More Homes for Sale, Fewer New Listings
Realtor.com’s October housing report found 7.4% more active listings than a year ago, topping 1.18 million homes for sale nationally, the fourth straight month of faster growth. New listings fell 7.5% from a year earlier, the steepest drop since September 2023, and pending sales were down 10.5%. Sellers are mostly holding firm: 20.5% of listings had a price cut, just 0.2 points more than last year. Realtor.com estimates the same monthly principal and interest payment now covers a loan nearly 6% smaller than in late August.
What it means for you: buyers have more homes to choose from and more time to decide. Sellers in Valencia, Saugus and Canyon Country who price right from day one still stand out, because fewer new listings are coming on the market. Source: Realtor.com.
Zillow: Payments Up 12.8% From Last Year, Rents Rising
Zillow’s October market report, released today, said newly pending listings fell 16.8% from a year earlier, the biggest drop since August 2023. The typical U.S. mortgage payment was about $2,004 a month (20% down, before taxes and insurance), 12.8% higher than a year ago, while typical home values were just 0.7% higher. Rents rose 2.9% year over year, the strongest gain in 19 months.
What it means for you: higher rates, not higher prices, are driving payments up, so a better loan structure can matter as much as the price. With rents climbing too, renters in Newhall and Stevenson Ranch should compare renting against owning before deciding to wait. Source: Zillow.
Private Employers Add 86,000 Jobs
ADP reported that private employers added 86,000 jobs in October, the same as September’s revised total. The Pacific region, which includes California, added 27,000. Base pay was up 3.2% from a year earlier, and people who changed jobs saw a 4.8% raise. The government’s official October jobs report is due Friday.
What it means for you: a steady job market is good news for household budgets in the Santa Clarita Valley, but strong jobs numbers can also keep mortgage rates higher. Friday’s report may move rates either way. Source: ADP and CNBC.
Thinking About Buying or Selling This Fall?
With more homes on the market and fewer buyers, now is a good time to make a plan. Browse Santa Clarita and Valencia and FivePoint, see current new construction, compare home loan options or check your home’s value.
Call or text 661-877-4162Andy & Rebekah, Entity Realty, entityrealty.com
Andy Martinez Jr., Mortgage Loan Originator | NMLS #2171006 · Entity Mortgage and Realty, Company NMLS #2371431 · CA DRE #01978202 · 26254 Prima Way, Santa Clarita, CA 91350 · Equal Housing Opportunity. General information only, not a commitment to lend. Approval, rates and terms depend on credit, income, property and program guidelines and can change.