Bay Area Mortgage & Market Update for March 8th

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

Bay Area Mortgage & Market UpdateEconomic News...The stock market continues to roll on with the Dow Jones making new highs (four in a row this week). While the growth of equities is good news for the consumer and market in general, it traditionally comes at a cost to the debt markets. This morning’s Employment Situation report was “icing on the cake” for traders and has sent mortgage rates higher. Weekly Jobless Claims also continued to move lower and once again beat estimates. There was an interesting article in last week’s New York Times which highlights the value of excellent communication and customer service. “About a third of customers are willing to pay more for a mortgage that comes with superior customer service and less stress”. I would like to see a similar survey on the listing of homes. Just last week I was contacted by a seller regarding why his property was not moving. Since it was already listed I could not tell him much but after reviewing how his home was being marketed it was apparent why it was not selling quickly at a premium price. In the majority of cases those looking for a deal with the listing agent may end up shortchanged on their selling price.

Remember that Daylight Savings Time arrives this weekend so don’t forget to set your clocks forward on Saturday night!

Mortgage Markets...Mortgage rates are under pressure with the continued rise in the equity markets. The 10 Year Note is currently trading at 2.058% versus last week’s closing level of 1.856%.

Next Week’s Market Moving Reports...Wednesday: Retail Sales Thursday: Jobless Claims, Producer Price Index Friday: Consumer Price Index, 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?


Doug Anderson

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

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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 (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 March 8th.

Mar 08, 2013 07:56 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 - It's good news to see the Dow at new highs!  I hope it continues for the rest of the year!  Another great Bay Area Mortgage and Market update!

Mar 08, 2013 08:41 AM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Thanks John and Laura! Have a great weekend!

Mar 08, 2013 12:43 PM