Market Observations -Week of June 28, 2010
I have noticed that the Mortgage rates have dropped probably to the lowest level in decades last week and the affordability of homes is now very favorable for buyers. The cause of this drop in the Mortgage rates is due to the uncertainty of the extent of the global economic growth as well as the continued low inflation levels.
The Financial Reform Bill was passed last week by Congress. The affect on the mortgage lending and the home buying process is yet to be seen. The impact will be mostly noticed how the regulatory discretion will be handled over time.
Consumer Confidence rose to the highest level since January of 2008.
The biggest economic event for this week will be the Employment report on Friday. This will affect the long term confidence of the consumers as well as how Real Estate will fare in the near term.
If you are interested in getting an Estimate of Value of your home or you are wondering if this is a good time to buy, please contact me directly.
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at email@example.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of My commission to Local Animal Rescue Organizations.