Markets have seen it too after many years of going up, and many of the tech workers in the Bay Area are paid in the growth-sensitive (rate-sensitive) shares of their employers. Those shares have come down a fair bit recently, and your marginal buyer might well be a big tech employee.
we started 2018 with a 3.95% for 30 year mortgage, it went all the way up to 4.94% in november. sure, it's declined since then, but only to 4.51% current rate which is still much higher than what we started 2018 at
https://fred.stlouisfed.org/series/MORTGAGE30US
Going back even further, Measuring Worth https://www.measuringworth.com/datasets/interestrates/
has long term interest rate data from 1790 and rates now are lower than in 88% of other years -- the only other major periods of such low rates was the depression era to WW2 price/rate controls: 1936-1955. Roughly prior to when the Federal reserve gained its independence and was able to set policies apart from federal budget needs.
You are living in a very special period of historically low rates.