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Bay Area Mortgage & Market Update for May 24th
Remember Those Who Made The Ultimate Sacrifice For Our Great Nation
 
Economic News...For housing was oozing with positive data! Despite the constrained inventory of available homes both the Existing Home Sales and New Home Sales reports showed strong results. Durable Goods Orders beat estimates and Weekly Jobless Claims bounced back from last week’s disappointing report.
Mortgage Markets...Mortgage rates continue to march higher during May. Mortgage Backed Securities are currently underperforming the Treasury market. The 10 Year Note is currently trading at 2.013% which is up from last week’s closing yield of 1.956%.
Next Week’s Market Moving Reports...Tuesday: Case-Shiller Home Price Index, Consumer Confidence Thursday: Jobless Claims, Gross Domestic Product Friday: Consumer Sentiment, Personal Income & Outlays
While I do not originate mortgages, I make it a habit to keep abreast of market & home loan 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.
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