Welcome to my April newsletter, with an update on the latest jobs report, what is happening in the bond market as oil prices and geopolitical risk remain elevated, and what we are seeing right now in the Los Angeles housing market as spring buying season gets underway.
Mortgage Rates April 2026
Mortgage rates are holding in the high 5s — choppy but workable after yesterday’s jobs report and all the price of oil volatility.
Here’s where local interest rates stand this week:
• 5.375% on 7YR jumbo ARMs up to $5M with full income documentation, depending on loan-to-value and credit.
• 5.5% on 10YR jumbo ARMs up to $5M with full documentation, again varying by structure and profile.
• Bank-statement loans for self-employed borrowers are generally still in the mid 6% range, reflecting the added underwriting complexity but giving buyers flexibility when tax returns don’t tell the whole income story.
For borrowers, the takeaway is simple: this is still a workable rate environment, but it is not one where you want to wait around for the perfect economic headline. ARMs continue to make sense for clients who want lower starting payments and may refinance later when the bond market cools down.
Fed Policy & Economic Outlook
Oil does not set mortgage rates directly, but it can absolutely influence them. When oil prices jump, investors often worry that inflation will stay higher for longer, and that can push up Treasury yields and mortgage-backed security yields as well.
That is one reason the recent move in energy has mattered so much: it has added a layer of uncertainty to a market that was starting to look more orderly in late February and early March.
These kinds of moves are often headline-driven and can fade just as quickly as they appear. Unless oil spikes begin to feed into a broader inflation problem, the longer-term rate outlook still looks more like gradual improvement than a new upward cycle.
Jobs Market Update
Yesterday’s March U.S. Jobs Report beat economist expectations across the board which should ease recession fears and keep Fed rate cut expectations on hold.
What This Means for LA Buyers:
• The U.S. added 178,000 jobs (vs. 60K expected)
• Unemployment decreased slightly to 4.3%
• Average hourly earnings rose 0.2% month-over-month and 3.5% year-over-year.
This is a softer labor market, but not one that is breaking down. The Fed is still on hold, and Powell’s message after the March meeting was clear: they are not rushing to cut rates, and they want to see more proof that inflation is under control.
Los Angeles Housing Market
Los Angeles remains a market with real activity, but the mood is more cautious than it was a year ago. Realtor.com shows the Los Angeles market with a median home price of about $1.199 million, roughly 10,807 active listings, and an average of 63 days on market, which is notably slower than the pace buyers were facing during the pandemic boom.
Inventory has improved, but the market is still expensive, and that means buyers are more selective than ever.
That matches what I am hearing anecdotally: deals are harder to hold together because buyers are nervous about the economy and about overpaying, while sellers are struggling to accept unrealized price expectations that no longer match the current market. In other words, the market is not frozen, but it is more fragile. Pricing strategy and expectations matter more now than they did when demand was overwhelming supply.
This is when the right lender relationship matters most, especially one that can keep a loan intact when the deal gets shaky.
Recently Closed Loans March 2026
Home Purchase | West Valley | $9.1M
80% LTV financing
7/1 ARM | Interest-only
Rate: 5.485% | APR: 5.6%
Other lenders capped the deal at 65% LTV. We secured 80% LTV financing for this high-leverage borrower and closed in 30 days.
Home Purchase | West Valley | $2.7M
85% LTV financing
10/1 ARM
Rate: 5.5% | APR: 5.6%
Income documentation was complex, but we navigated the file, secured financing with no PMI, and closed in 25 days.
Home Purchase | Hermosa Beach | $4.375M
80% LTV financing
30-year fixed-rate loan
Qualified using 12 months of bank statements
Rate: 6.75% | APR: 6.85%
Most lenders will not offer 80% LTV financing on a bank statement loan over $3M for a high-leverage borrower. We got it done and closed in 25 days.
Refinance | Los Angeles | $2.5M
80% LTV financing
7/1 ARM
Rate: 5.5% | APR: 5.6%
The client purchased the property in cash, then immediately completed a $2M cash-out refinance to recapture capital. We closed in 20 days.
Land Loan | Pacific Palisades | $2M
75% LTV financing
3/1 ARM
Rate: 6.5% | APR: 6.75%
The borrower secured a $2M land loan in Pacific Palisades with 75% LTV financing. We closed in less than 30 days.
Key Dates This Month
For clients and agents watching the calendar, several April dates will help shape the housing market conversation:
April 13 – Existing Home Sales
April 21 – Pending Home Sales
April 29 – Fed Interest Rate Decision
How We Can Help
As we move through April, we are in a market shaped by three forces at once: a cooling labor market, a Fed that is still on hold, and short-term rate pressure tied to oil, geopolitics, and bond market volatility. That mix rewards planning over guessing.
It’s a good time to:
•Get fully pre-approved so you can move quickly when the right property appears.
•Compare fixed-rate and ARM options and decide how much rate risk you actually want to take.
•Revisit older higher-rate loans from the 2022–2023 period to see if a refinance or cash-out strategy still pencils.
•Connect with buyers who have been sitting on the sidelines. This is a good moment to revisit their pre-approval and rate options.
I’m also proud to share that I was named the #1 Mortgage Broker and #1 Non-QM Originator in the U.S. by Scotsman Guide for the fourth year in a row. That recognition comes from the same standard I bring to every deal: get it done, structure it right, and move fast.
If you’d like updated rate quotes, a scenario analysis on a specific property, or a straightforward conversation about how these developments affect your plans, please reach out any time.
Sincerely,