East Bay Mortgage & Market Update for May 11th

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

Mortgage and Market Update for May 11th


Bay Area Housing and MortgageEconomic News: The elections in France and political turmoil in Greece gave the stock market the jitters to start the week. This broad selloff in equities led to a rally in bonds. As the week went on things calmed down a bit. There was not much in the way of domestic economic news this week. Jobless Claims held steady and Consumer Sentiment beat expectations pointing toward a more positive view of the economy. Around Bay Area housing the buzz is the lack of inventory and multiple offer scenarios across most price points.

Mortgage Markets: Treasuries and Mortgage Backed Securities(MBS) did well for the week and mortgage rates trended lower.  The 10 Year Note is currently trading at 1.855%.

Next Week’s Reports: Tuesday: Consumer Price Index, Retail Sales, Housing Market Index Wednesday: Housing Starts, Industrial Production, FOMC Minutes Thursday: Jobless Claims, Philly Fed Survey

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?

 Call...

Doug Anderson

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

 800.900.2634 Toll Free...925.974.1171 Direct...925.570.0611 Mobile

 

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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)

Cara Marcelle Mancuso
Golden Girls with SW Desert Homes - Tucson, AZ
Call a Marana neighbor, I'm THERE!

We are suffering from a lack of inventory in our area as well.  Funny, the ups and downs of real estate and mortages!  Sure loving the low interest rates!  Have a great week ahead of you Doug!

May 12, 2012 01:48 AM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

You too Cara...I hope you had a wonderful Mother's Day Weekend!

May 13, 2012 11:36 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

One thing we can't complain about is interest rates!  We just need to find the buyers something to buy in our area so they can take advantage of those super low rates!! LOL!

May 15, 2012 08:32 AM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

We are in the same boat in the Bay Area Renee. More inventory would be a welcome sight!

May 16, 2012 03:49 AM