East Bay Mortgage & Market Update for April 20th

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

Mortgage and Market Update for April 20th


680 Corridor Real Estate NewsEconomic News: The data which rolled out this week was pretty tepid. Retail Sales were a bright spot and, although fuel prices had an impact on the numbers, there was growth across most sectors. Weekly Jobless Claims were worse than expected rising to 386,000 and last week’s numbers were revised higher as well. Now on to the housing numbers and proof again that all real estate is local. The Housing Market Index declined for the first time in seven months with home builders reporting weakness in all three metrics. Housing Starts stumbled and Existing Homes Sales were also less than expected. This certainly does not sound like our market here in the Bay Area where we are experiencing low inventory, multiple offers and stronger pricing.


Mortgage Markets: Treasuries and Mortgage Backed Securities have had an uneventful week. The 10 Year Note is currently trading at 1.969%.

Next Week’s Reports: Tuesday: Case-Shiller Home Price Index, New Home Sales, Consumer Confidence Wednesday: Durable Goods Orders, FOMC Meeting Announcement, FOMC Forecast Thursday: Jobless Claims 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.

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Doug Anderson

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Comments (2)

Nevin Williams
Fairway Independent Mortgage Corporation - Cary, NC
Senior Mortgage Advisor

I'm surprised to hear that report about home sales.  The agents I work with throught California, Oregon, Washington and even North Carolina are all reporting a sellers market in their areas.

Apr 22, 2012 10:09 AM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Me too Nevin. Last weeks data really did not jive with what is actually going on in our area.

Apr 23, 2012 03:40 AM