Bay Area Mortgage & Market Update for September 7th

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

Mortgage and Market Update


Bay Area Mortgage & Market UpdateEconomic News: Another week is coming to a close and fall is officially set to begin on Saturday the 22nd of September. One word you will be hearing about over the next several weeks are “G-Fees”. The Federal Housing Finance Agency announced last Friday that it has “directed Fannie Mae and Freddie Mac to raise guarantee fees (g-fees) on single family mortgages by an average of 10 basis points.” In simple terms it means that interest rates will be forced marginally higher very soon. If you have any free time this weekend and would like to read up on these fees here is the Fannie Mae & Freddie Mac Single Family Guarantee Fees in 2010 and 2011. There was nothing too earth shattering in the way of domestic economic news for the week. Keep an eye on next Thursday and Friday as there will be a lot of data released which could swing interest rates in either direction.

Mortgage Markets: Mortgage rates rallied a bit ending right in line with last Friday. The 10 Year Note closed trading at 1.672% versus 1.554% last week.

Next Week’s Reports: Tuesday: International Trade Thursday: Jobless Claims, Producer Price Index, FOMC Meeting Announcement, FOMC Forecasts, Chairman Press Conference Friday: Consumer Price Index, Retail Sales, Industrial Production, 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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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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Comments (3)

John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Doug - Thank you for sharing detailed information about Bay area mortgage & market update for September 7th.

Sep 07, 2012 03:31 PM
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Doug - Another excellent Bay Area Mortgage and Market Update.  Now that everyone is getting back from their summer vacations it will be interesting to see if the markets become more active. I'm looking forward to your next update!

Sep 08, 2012 06:48 AM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Thank you John and Laura!

Sep 14, 2012 10:40 AM