Bay Area Mortgage & Market Update for January 4th

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

Mortgage and Market Update

Bay Area Mortgage & Market UpdateEconomic News...
As we rang in the New Year all eyes were on the Congress & President to avert the so called “Fiscal Cliff”. A deal was struck but look out for more volatility as the United States has reached the debt ceiling and what looks to be a contentious battle lies ahead in the next few months. Good news for those who are having to go the short sale route. Mortgage Debt Tax Relief was extended for another year. California’s Homeowner Bill of Rights, which was signed last year by Governor Jerry Brown, has taken effect. One part, which will be a relief to many homeowners, is the elimination of “Dual Tracking”. This process allowed banks to proceed with the foreclosure while an attempt at a loan modification was in process. This will certainly take some of the stress away from distressed owners as they try to restructure their loan and may give them a little more time to prepare for a short sale if the modification is declined.

Mortgage Markets...Minutes from the
Federal Open Market Committee spooked the debt markets yesterday by revealing what may be some dissention going forward on monetary policy. This contributed to a sharp slide in MBS and Treasury prices. The 10 Year Note is currently trading at 1.932% versus last week’s closing yield of 1.716%.

Next Week’s Market Moving Reports... Thursday: Jobless Claims Friday: International Trade

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?


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

Comments (3)

Tracy Oliva
West USA Realty - Arizona - Fountain Hills, AZ
The Oliva Team Arizona Agents

Doug:   This is some great Info,  keep up the good job and good luck with your business in 2013,  E

Jan 04, 2013 02:00 AM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Thanks Ed...Have a great weekend!

Jan 04, 2013 05:21 AM
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Doug - Excellent mortgage, economic and Bay Area housing information!

Jan 04, 2013 05:26 AM