For the last few years, the most committed relationship in America may not have been between spouses, business partners, or even Angelenos and Erewhon. It was between homeowners and their mortgage rates.

Specifically, those ultra-low, once-in-a-lifetime, “I’ll never let you go” COVID-era interest rates that stayed around 3%.

Honestly, we get it. If you secured one of those rates in 2020 or 2021, congratulations. You essentially won the financial equivalent of the Taylor Swift Ticketmaster war. It felt rare. Untouchable. Worth protecting at all costs.

For years, many homeowners stayed put simply because giving up that rate felt irrational. Why trade a historically low monthly payment for today’s higher borrowing costs? Financially, it made sense on paper. But here’s the thing about paper: it doesn’t account for real life.

Over the past six years, life has changed dramatically for many people. Families grew. Kids became teenagers. Dining rooms became offices. Parents moved in. Remote work became permanent. Some people now need more space, while others are realizing they no longer need nearly as much. And while life evolved, many homeowners stayed frozen in place, protecting a mortgage rate that no longer matched the life they were actually living.

Lately, though, we’ve noticed a meaningful shift happening here in Mar Vista, and that trend extends nationally as well. People are starting to ask a different question. Not: “How do I keep my 3% rate forever?” Rather: “What is the cost of staying?”

Because there is a cost. Sometimes it’s a growing family squeezing into a home that technically works, but no longer functions well day to day. In fact, recent data suggests the market is already beginning to normalize. According to Federal Housing Finance Agency data, the number of mortgage holders with rates above 6% officially surpassed those with rates at 3% or below in 2025, marking a notable shift. The average interest rate of existing mortgages has also gradually climbed from 3.8% in 2022 to 4.4% in 2025, approaching pre-pandemic norms.

Even more recently, industry surveys found that this year, more than one-third of sellers are willing to forgo mortgage rates below 5% to pursue lifestyle changes. In other words, more homeowners are adapting to today’s market realities rather than waiting indefinitely for 2021 conditions to return. That mindset shift is quietly reshaping today’s market, especially in neighborhoods like Mar Vista, where people buy for lifestyle as much as investment value. Buyers here are looking for homes that support how they actually live now: flexible spaces, walkability, outdoor entertaining, room for family, proximity to schools, and a sense of community.

And that matters for homeowners who may have assumed buyer demand disappeared when rates rose. In reality, many buyers never stopped wanting to move. They simply paused as they adjusted to a new financial landscape. Now, many are re-entering the market with a different perspective and more realistic expectations. The emotional frenzy of the pandemic-era market has cooled, but motivated buyers are absolutely still out there, especially for homes that actually fit today’s lifestyle needs.

As neighbors who live and work in Mar Vista, we’ve always believed our neighborhood has a unique perspective on homeownership. People here care deeply about how they live, not just what a spreadsheet says. They stay connected to the community, think long term, and lately, many homeowners are realizing something refreshingly simple: A low interest rate is wonderful, but it’s not supposed to become your entire life plan.

No one is excited to trade a 3% mortgage for a higher payment, but more people are realizing that financial decisions are meant to support life, not delay it indefinitely. That shift matters because many buyers are arriving at the same conclusion. They’re ready for more space, a better lifestyle fit, or simply a new chapter, and they may very well be searching for a home exactly like yours.

We’re always happy to talk through things further. Whether you want to strategize or just meet another friendly face from the neighborhood, we’d love to get in touch (include CTA form at bottom of page). 

Your neighborhood Realtors,

Rebecca Davis + Claire Burns