"WISH ME LUCK!" Last words spoken by Niagara Falls barrel rider...But luck hasn't been on the side of home loan rates, as Mortgage Bonds tipped over the edge on Thursday, adding to the brutal cascade lower which began on May 8th, and causing home loan rates to move significantly higher along the way. Last week the damage was particularly dramatic, as Thursday brought the largest single-day worsening in Bonds and home loan rates seen in three years. Although Friday brought a small amount of recovery, home loan rates still increased by .25% across the board overall.
So what happened last week? There was a sell-off in Mortgage Bonds on the news of Central Bank rate hikes in other countries, as these hikes make other global investments more attractive than our US Bonds for those seeking higher yields. The reduced demand for Mortgage Bonds causes prices to fall and home loan rates to rise. But it was not the news of other Central Banks hiking rates that caused the extreme reaction - this event was simply the proverbial "straw that broke the camels back", as Bonds were primed for a move lower after blowing through another technical "floor of support". Keep reading to learn how important these floors of support are to home loan rates...

 Please visit me at www.ChrisRossAssociates.com

Its real simple, follow the stats and your eyes will open. We are not in a market that we were in two years ago. We are in a buyer's market. Keep this in mind not only if your planning on buying a home but also if your planning on selling your home. If you price your Livermore house like everyone else, your house will sit. However, if your realistic, and not in a fantasy world, then price your house accordingly, it will sell. We had over 100 houses sell last month. For all my blogger reader's, I think we have about 40 constant based on e-mails. I am so confident that the real estate market is close to the bottom and so confident that there are very good deals out there, I am willing to go into an investment with a select few of you that wish to take advantage of this market. Let me know! I will put my money where my mouth is. www.ChrisRossAssociates.com

 

There is something in the air in Livermore. It is the sound of Realtors starting to call me on some of the listings I have. After about a month or two of little to no phone calls, I have received over 10 calls this week for availability of some of my listings. What does this mean? Well possibly we are starting to see a turn around in the Livermore Real Estate Market. I will keep all readers informed on the trend. Lets cross our fingers and hope that after seeing the San Francisco market (A historical indicator of the Bay Areas success) increase over the last month, that Livermore is not far behind.

Well the stats are in for the last year from the California Association of Realtors. Byron, Brentwood, Martinez, San Ramon, and Fairfield get hammered by double digit losses for home prices. Berkley, Union City, Dublin, Livermore, Alameda, and Lafayette stay in single and double number increases. This is a natural balance occurring, and an even better indicator of places that will weather most any housing storm, considering many experts believe the worst has passed.

Memorial Day weekend has passed us by, I will give everyone quick updates on how this will effect Livermore Real Estate in the next few weeks. Traditionally this is when things start heating up, stay tuned