East Bay Mortgage & Market Update for March 11th 2011


East Bay Mortgage & Market UpdateEconomic News:  Thursday’s Jobless Claims came in higher than expected for the week at 397,000 reversing the recent trend. The four week moving average rose slightly but still remained under the 400,000 level. The Retail Sales numbers reported this morning were strong. While auto sales and higher fuel prices led the way most other components were positive as well. On the contrary, Consumer Sentiment had a sharp decline in March at 68.2 versus the 77.5 number for February. This drop is most likely attributed to the spike in gas prices. Lastly, Crude Oil is retreating from its recent highs currently trading at $100.90 per barrel.

Mortgage Markets:  The 10 Year Note is currently trading at 3.406% and is  losing a bit of ground after rallying since mid week. Mortgage Backed Securities are also off slightly and mortgage rates could get a bit worse this afternoon.

Next Week’s Reports:  Tuesday:  Housing Market Index & FOMC Meeting Announcement  Wednesday:  Housing Starts & Producer Price Index Thursday:  Jobless Claims & International Trade  Friday:  Quadruple Witching (Occurs on the 3rd Friday of every March, June, September & December)

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.

Stay tuned for the Next East Bay Mortgage & Market Update 

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

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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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4 Comments on East Bay Mortgage & Market Update for March 11th 2011

MAR
11
2011
561,252 Points 3 Featured Posts Outside Blog Called Shot Master

Doug,

I'm interested to see what happens after the market's knee jerk response to Japan's earthquake/tsunami. With the West Coast Tsunami watch on please keep your feet dry my friend.

Steve
2:34pm • #1
374,525 Points 2 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Steve: Wow what news coming out of Japan as the day goes on. Just read about some pretty bad damage and a fatality in Crescent City. I know there was some damage in Santa Cruz as well.
3:36pm • #2
MAR
12
2011
1,380,486 Points 151 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Hopefully gas prices retreat with crude oil prices!

Sad to hear about the fatality in Crescent City!  Hopefully the shaking stops soon.  There was another large aftershock last night!
12:45pm • #4
374,525 Points 2 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I hope so too Renee. We will see when the markets open on Monday. The Japanese economy will take a big hit with this disaster.
1:32pm • #5


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