East Bay Mortgage & Market Update for March 25th 2011

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

East Bay Mortgage & Market Update for March 25th 2011

East Bay Mortgage & Market UpdateEconomic News:  Wednesday brought us the New Home Sales figures which predicted an annual sales rate of 250,000 units versus the 290,000 units forecast. While disappointing to the market this is a volatile report which is often revised. For more information the report can be viewed at US Census Bureau News. Jobless Claims were better than expected and the decline in the four week moving average put it at levels not seen since the summer of 2008. Consumer Sentiment for March fell to 67.5 from 77.5 in February. Once again the data for the week is all over the map. Remember that these statistics are national/regional and all real estate is local. What you read and hear about may not reflect what is happening in your neighborhood.

Mortgage Markets:  The 10 Year Note is trading at 3.435% which is down for the day. Mortgage Backed Securities remain range bound and under a bit of pressure as the week comes to an end. Mortgage rates are still fantastic.

Next Week's Reports:  Monday: Personal Income & Outlays, Pending Home Sales Index  Tuesday:  S&P Case-Shiller Home Price Index & Consumer Confidence   Thursday:  Jobless Claims & Factory Orders  Friday:  Employment Situation, ISM Manufacturing Index & Construction Spending

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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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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Comments (4)

Elizabeth Byrne
Keller Williams Realty - Arlington, VA
Arlington Virginia Real Estate

Great report on the state of our economy. You are right about interest rates - they are still fantastic. Buyers should be taking advantage of those great rates; they will not last forever. Have a great weekend.

Mar 26, 2011 04:31 AM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

I agree Elizabeth. They have stayed lower longer than most people predicted.

Mar 27, 2011 07:18 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

I have a feeling our data will be all over the map for a while!

Thanks again for such a thorough report!  I look forward to reading them every week.

Mar 29, 2011 11:15 AM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Thank you very much for the nice comment Renee.

Mar 29, 2011 11:24 AM