Mortgage and Market Update for November 23rd


Credit to Mary VogtEconomic News: Another week dominated by the debt crisis in the European Union has let the air out of the US Equity Markets. The Congressional “Supercommittee” (And I use that term loosely) "punting" on any kind of debt reduction did not help matters either. In spite of worldwide governments coming up short on leadership the US Economic reports for the week were not bad. Existing Home Sales beat expectations and while pricing is under pressure inventory is down. Gross Domestic Product was revised lower on an annual basis to 2% from 2.5%. Durable Goods Orders beat estimates and Consumer Sentiment remained little changed from last month. Personal Income was up 3.9% year over year and spending was reported higher by 4.7% over the same period. Lastly, Weekly Jobless Claims were up slightly but the four week moving average, continuing a trend, moved lower. Now it’s time to lay aside all concerns and enjoy what we have to be thankful for.

Mortgage Markets: Treasuries and Mortgage Backed Securities. The 10 Year Note is currently trading at 1.886% which is down from last week’s closing of 2.014%. Mortgage Back Securities have performed well this week and interest rates have trended slightly lower over the last three days.

Next Week’s Reports: Monday: New Homes Sales Tuesday: Consumer Confidence, Case-Shiller Home Price Index Wednesday: ADP Employment Report, Pending Home Sales Index, Beige Book Thursday: Jobless Claims, ISM Manufacturing Index Friday: Employment Situation

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

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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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Posted by Doug Anderson's Bay Area Real Estate Views on 11/23/2011 03:47 PM   Comments (7)   Shopping for Mortgages in the Mortgage / Finance Channel   east bay mortgage and market, tri valley mortgage  
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7 Comments on East Bay Mortgage & Market Update for November 23rd...HAPPY THANKSGIVING!

NOV
23
2011
707,641 Points 47 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Doug, Thank you for the update, have a Happy Thanksgiving,  best wishes from your greater Los Angeles Real Estate connection:)
7:49pm • #1
1,375,867 Points 7 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Howdy and evening Doug

Doug, that there sure is a mighty cool looking Turkey. I sure wanted to be sure stop by to leave you and your family this here little ole, Happy Thanksgiving to you and your family.

May each and every day bring you and your family many blessings!

Have a good one
Dale in New Hampshire
10:01pm • #2
372,138 Points 2 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

You bet Endre. Have a Wonderful Thanksgiving as well.

I thought so too Dale. You and yours have a fine Thanksgiving.
10:34pm • #3
NOV
25
2011
1,373,578 Points 151 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Hope you had a wonderful Thanksgiving!  Sorry we are late to the party:
8:18pm • #4
372,138 Points 2 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

The "Doggies" are always welcome Renee. Hope you and yours had a fine Thanksgiving!
9:02pm • #5
NOV
27
2011
1,057,134 Points 27 Featured Posts Outside Blog Called Shot Master

Hope you're having a great Thanksgiving weekend. Good luck in closing the year out strong.
5:32pm • #6
372,138 Points 2 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Yes Jim it was a great weekend. Best wishes to your year end as well...
11:51pm • #7


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