30 year fixed mortgages were down last week, while 15 year mortgages stayed the same. One year ARM's, on the other hand, were up.

Fixed rate mortgages averaged about 5.72, down from a year ago when the average was 5.83.

Nonetheless, the housing market continues to strive for equilibrium between supply and demand.

If you would like to get preapproved for a mortgage, click to speak with a Los Angeles mortgage broker.