Special offer

Bay Area Mortgage & Market Update for December 15th

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

Mortgage and Market Update


Bay Area Mortgage & Market ReportEconomic News:  The major news of the week was the forward guidance issued by the FED regarding interest rates. The “exceptionally low” interest rate philosophy seemed to change from a specific timeframe to one that is tied to the employment picture. A target of 6.5% unemployment or below would be the benchmark. Operation Twist is also coming to an end but will be replaced by a similar program. Loan demand for home purchases reached a 2012 high for the third week in a row. Who says the purchase market cools off in the Winter months???
Now for a look at how the California Housing Market did over the past year. Per DataQuick...Home sales were up 14.7%, the median price paid rose 19.3% and foreclosure sales in October were down 32.9%. Pretty good news for the real estate picture in California I’d say...

Mortgage Markets: Nothing much to say about Mortgage Backed Securities and the 10 Year Note this week. Things were pretty quiet and mortgage rates are virtually unchanged from last week.

Next Week’s Reports: Tuesday: Housing Market Index Wednesday: Housing Starts Thursday: Jobless Claims, GDP, Existing Home Sales, Philadelphia FED Survey Friday: Personal Income & Outlays, 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.

Posted by

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

 

Alamo Homes For Sale          Blackhawk Homes for Sale

 

San Ramon Home Search          Danville Homes for Sale

 

Walnut Creek Homes for Sale          Contra Costa Bank Owned Homes

 

Twitter          Tri-Valley Living          LinkedIn

 
California Bureau of Real Estate Broker Licenses 01165309 and 01190879 

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.

 

Equal Housing Opportunity

© J. Douglas Anderson 2010-2013 All Rights Reserved

Rob Lang
At Home Kansas - Shawnee, KS
Local Expert in NE Central Kansas Real Estate Home

Great financing information from Doug Anderson's Bay Area Real Estate Views in Danville, CA.  Give Doug a call!

Dec 14, 2012 06:07 AM
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker Realty, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Doug - Wow! The California Housing Market had a good year with the average median home sales price up 19.3%!  Looks like those buyers who are still on the fence need to act sooner rather than later!  Excellent Bay Area Mortgage and Market Update!  Call Doug Anderson (925) 570-0611 for all of your Bay Area real estate needs!  

Dec 14, 2012 06:25 AM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Thanks Lawrence! Laura...I wish we had more inventory! Prices are mostly up on the lower end but it is also nice to see moderate increases in pricing on the higher end as well.

Dec 14, 2012 08:33 AM