East Bay Mortgage & Market Update for March 18th 2011

Real Estate Agent with Tucker Associates Real Estate Services Broker, CalBRE 01165309

East Bay Mortgage & Market Update for March 18th 2011

East Bay Mortgage & Market UpdateEconomic News:  A fairly big week for economic data was partially overshadowed by the events in the Middle East as well as the catastrophe in Japan. Wednesday's Housing Starts announcement was weaker than expected with the sporadic Multi Family sector leading the downside. Both the Producer Price Index & the Consumer Price Index were higher with food & energy costs leading the way. There was positive news to end the week with the Industrial Production stats as well as the Philadelphia Fed Survey  pointing to continued strength in the manufacturing sector. Crude Oil, while dipping under the $100 per barrel price earlier in the week, ended the week at $101.62.

Mortgage Markets:  The 10 Year Note closed trading at 3.268% as a volatile week comes to a close. Mortgage Backed Securities also held their own with light losses to end the week in the face of a stronger stock market. Mortgage rates have had a nice rally over the past week and a half and now is a good time to seriously take a look at locking in if you have been waiting. 

Next Week's Reports:  Monday: Existing Home Sales  Wednesday:  New Home Sales Thursday:  Jobless Claims & Durable Goods Orders  Friday:  Gross Domestic Product & Consumer Sentiment

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

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


Doug Anderson

Doug Anderson An Independent Real Estate Broker - Executive Brokers, sm

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Comments (4)

Dale Baker
Baker Energy Audits and Commercial Properties Inspections - Claremont, NH
New Hampshire Relocation Real Estate Information

Howdy and evening to you Doug

Doug, you sure do a mighty fine job of keeping folks informed with your East Bay Mortgage & Market Update blog posts.

Have a good one
Dale in New Hampshire

Mar 18, 2011 04:24 PM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Thank you very much Dale. I hope you have a nice weekend.

Mar 18, 2011 04:26 PM
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA


I understand the FED still has some "quantitative easing" funds for buying securities.  I don't remember ANYONE forecasting interest rates this low 1 or 2 years ago. The FED seems to be the "wildcard" that no one counted on...

All they best,


Mar 19, 2011 02:44 AM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Steve - Here is a blurb from the Wall Street Journal regarding the FOMC statement released earlier this week concerning the continuation of QE2:

"To promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to continue expanding its holdings of securities as announced in November. In particular, the Committee is maintaining its existing policy of reinvesting principal payments from its securities holdings and intends to purchase $600 billion of longer-term Treasury securities by the end of the second quarter of 2011. The Committee will regularly review the pace of its securities purchases and the overall size of the asset-purchase program in light of incoming information and will adjust the program as needed to best foster maximum employment and price stability."

Mar 19, 2011 04:15 AM