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East Bay Mortgage & Market Update for 9.30.11 Welcome to October!

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

Mortgage and Market Update for September 30th


East Bay Mortgage & Market UpdateEconomic News: The equity markets continue to look for some footing this week ending a rocky 3rd Quarter where the Dow Jones has lost about 10% of its value before today's drubbing. While still having some significant intraday swings the efforts to stabilize the debt troubles within the European Union will hopefully help in the upcoming weeks. Our economic reports continue to be a “mixed bag” with New Home Sales, Case-Shiller Home Price Index & Pending Home Sales not too positive. There was some good news in the sub-segments of the data. The Durable Goods Orders, while lower than July’s strong numbers, still show strength in the manufacturing sector. Consumer Confidence rose a bit and the weekly Jobless Claims broke through the 400,000 level at 391,000. Gross Domestic Product for the 2nd Quarter was revised upward to 1.3% from 1.0%. While certainly not scorching any upward revisions are both good news and welcome.

Mortgage Markets: Treasuries and Mortgage Backed Securities rallied overnight and are basically flat from last week. The 10 Year Note is trading at 1.929% up a tick from last week’s closing level of 1.832% .

Next Week’s Reports: Monday: ISM Manufacturing Index & Construction Spending Tuesday: Factory Orders Wednesday: ADP Employment Report & ISM Non-Manufacturing Index Thursday: Jobless Claims Friday: Employment Situation

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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Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

Let's hear it for good news! Let's hope that the fourth quarter can really pump some life into the economy with Halloween, Thanksgiving, and Christmas.

Sep 30, 2011 02:09 PM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Right there with you Jim!

Sep 30, 2011 02:42 PM
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Doug,

SA sent me a YouTube of Alan Kendall. He presents some very convincing forecasts for remarkable increases in real estate values starting in just a few years. His models are based on 40 year cycles starting in 1890.

Steve

Sep 30, 2011 04:33 PM
Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Doug, we really can use the good news. I hope the 4th quarter is shockingly busy!

Oct 01, 2011 12:16 PM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

I am going to have to look that up Steve.

You and me both Connie!

Oct 02, 2011 06:47 AM
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

Hey you're getting behind!  Where's the monthly wrap up post?  ; )

Oct 03, 2011 05:09 PM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Thanks for the push Georgina. It's coming this morning.

Oct 04, 2011 03:52 AM