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East Bay Mortgage & Market Update for September 23rd 2011

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

Mortgage and Market Update for September 23rd


East Bay Mortgage & Market Update - Doug Anderson Executive BrokersEconomic News:  Another Rock and Roll week is coming to a close. The stresses in Europe combined with the Federal Open Market Committee announcement on Wednesday sent the stock markets into a tailspin. The Fed will be proceeding with what is called “Operation Twist” and the language changed on the economic outlook from “downside risk” to “significant downside risk”. Housing starts were hurt by a large drop in the very volatile multifamily sector while the single family portion of the report saw gains in both the West and Midwest. Existing home sales were very good for August with a month over month gain of 7.7% and a substantial reduction in months inventory. Lastly, Jobless Claims were a touch better than last week.

Mortgage Markets: Treasuries and Mortgage Backed Securities rallied this week but are losing a little ground today. The 10 Year Note is trading at 1.832% which is near an all time low.

Next Week’s Reports: Monday: New Home Sales Tuesday: Case-Shiller Home Price Index & Consumer Confidence Wednesday: Durable Goods Orders  Thursday: GDP, Jobless Claims & Pending Home Sales Index Friday: Personal Income & Outlays

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.

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

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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 (3)

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

Howdy and evening Doug

Doug,
it sure seems at times, that someone on Capital Hill in DC don't want things to get better. One of the best ways to bring a County down, is from the inside.

Have a good one
Dale in New Hampshire

Sep 23, 2011 02:28 PM
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Doug,

It's great seeing the resale market increasing.

I'm wishing a larger piece of that pie is on your plate in Danville,

Have a great weekend,

Steve

Sep 23, 2011 04:02 PM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Well things will eventually get better Dale. We Americans are very resourceful people.

Thanks Steve. I hope you were able to enjoy the weekend.

Sep 27, 2011 07:15 AM