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Mortgage and Market Update for May 25th


Take a moment to remember those who served our countryEconomic News: The major headlines for the week were the continued turmoil surrounding Greece, its debt and whether or not it will be an EU member nation in the near future and the NASDAQ fumble of Facebook’s initial public offering.While these headlines captured the news we had another week of decent economic reports. New and Existing Home Sales were positive. Consumer Sentiment continued climbing off of near term lows seen last August and is at the highest level since late 2007. Lastly, Weekly Jobless Claims were reported at the high end of consensus but still in the 360-370K range and we saw another move downward in the four week moving average.

Mortgage Markets: Treasuries and mortgage backed securities have had a pretty uneventful week and mortgage rates remain near record lows.  The 10 Year Note is currently losing ground in a quiet trading day ahead of the Memorial Day Weekend. The yield is 1.784% versus 1.720% at the end of last week.

Next Week’s Reports: Tuesday: Case-Shiller Home Price Index, Consumer Confidence Wednesday: Pending Home Sales Thursday: Jobless Claims, ADP Employment Report, GDP Friday: Employment Situation, Personal Income & Outlays, ISM Manufacturing Index

While I do not originate loans I make it a habit to keep abreast of mortgage & market conditions. If you are thinking of purchasing a home the first step is to meet with a mortgage professional. I will gladly provide several top-notch Bay Area advisers for your review if you are in need of a referral.

Thinking of Buying, Selling or would just like to discuss what's going on in your neighborhood?

 Call...

Doug Anderson

Doug Anderson An Independent Real Estate Broker - Executive Brokers, sm

 800.900.2634 Toll Free...925.974.1171 Direct...925.570.0611 Mobile


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Any statistics were compiled from Public Records and other industry sources and are deemed reliable but not guaranteed. Any square footage quoted is approximate and requires buyer verification. It is illegal to discriminate against any person because of race, color, religion, sex, handicap, family status or national origin.

 

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© J. Douglas Anderson 2010-2012 All Rights Reserved

 


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Doug Anderson's Tri-Valley Real Estate Views

Danville, CA

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Executive Brokers Real Estate Group

Address: 1160 Alpine Road, Walnut Creek, CA, 94596

Office Phone: (925) 974-1171

Cell Phone: (925) 570-0611

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