East Bay Mortgage Market Update for December 20th 2010

Doug Anderson An Independent Real Estate Broker - Executive Brokers, smEconomic News:  Last Thursday's Philadelphia Fed Survey came in much stronger than expected. The future component of the report looked good with both new orders and back orders making gains. For the week of December 11th Jobless Claims were in the lower end of the consensus range. Lastly, Housing Starts posted a nice gain for November although coming off a very depressed October reading.

Mortgage Markets: The 10 Year Note began a rally late Thursday, into Friday, and are fairly stable today. The yield has fallen from 3.52% back to 3.35%. Mortgage Backed Securities have enjoyed a bit of the ride as well but the short sellers are still present and the noted lack of liquidity this time of year can make things volatile to the downside. Nevertheless, interest rates should remain range bound for the remainder of this week with a tick of bias towards being a bit higher with any strong economic news.

This Week's Reports:  Wednesday:  Gross Domestic Product (GDP) & Existing Home Sales Thursday:  Durable Goods Orders, Personal Income & Outlays, Jobless Claims, Consumer Sentiment & New Home Sales.

While I do not originate loans I enjoy staying abreast of mortgage/market conditions and feel it is a benefit to my clients.  If you are in need of a mortgage professional I am happy provide referrals to experienced loan officers in the Bay Area.

Stay tuned for the Next East Bay Mortgage Update...

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

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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 2010-2013 All Rights Reserved

 
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6 Comments on East Bay Mortgage Market Update for December 20th 2010

DEC
21
2010
1,402,558 Points 7 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Howdy and morning to you Doug

Doug, another one of your mighty fine and helpful reports to read. I sure do enjoy the fact that you take the time to write them in such a way, everyone can understand what you are saying. Thank you mighty kindly!

Mary Christmas to you and your family!

Have a good one
Dale in New Hampshire
5:36am • #1
257,100 Points 30 Featured Posts Attended Rain Camp Called Shot Master

Hello Doug, While I do not always comment I do always enjoy reading your blogs.

Who would have guessed back  a few short years that such a HUGE part of the real estate equation would be getting funded. We took access to money for granted. We all need the benefit of very sharp money people to get the task accomplished.
1:42pm • #2
374,425 Points 2 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Thank you very much Dale a Merry Christmas to you and yours as well.
1:57pm • #3
374,425 Points 2 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I could not agree with you more Charles. Today's financing climate (including excessive timelines) can be headaches for both buyers and sellers. Hopefully 2011 will be a time when we can see some balance returning to the mortgage market. There is significantly more True Jumbo financing available as we bring 2010 to a close.
2:00pm • #4
DEC
24
2010
561,252 Points 3 Featured Posts Outside Blog Called Shot Master

Doug,

The stats on housing starts are encouraging and confirm the direction we are moving. Certain price points and locations are making new construction a better value (in our area).

Merry Christmas to you and yours!

Steve
11:51am • #5
374,425 Points 2 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

The majority of the economic news released yesterday was positive as well.

Merry Christmas to you and your family as well. ~ Doug
12:08pm • #6


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