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Bay Area Mortgage & Market Update for March 22nd

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


Mortgage and Market Update...Spring Has Sprung!!!


Springtime!!!Economic News...There was a lot of housing news released this week. The Housing Market Index (gauge of new home sales) declined for the second month in a row but when you look at the forward data things are pretty good. In addition, the Western Region leads the way by a wide margin. Housing Starts numbers looked just OK but permits made excellent headway in January. This report can be all over the map from month to month due to weather conditions and as well as the volatile multi-family sector. Existing Home Sales, while just missing expectations, were positive. The supply of homes for sale jumped 9.6% nationwide and the months of available homes increased to 4.7 from 4.3. If we could only  find more inventory in the Bay Area! Lastly, the announcement from the Federal Open Market Committee left current monetary policy unchanged. The FED noted continued economic improvement but is still focused on the unemployment picture which remains stubbornly high.


Mortgage Markets...Mortgage rates remained steady this week but again Europe could bring us some volatility depending on what happens with the situation in Cyprus. The 10 Year Note is currently trading at 1.931% versus last week’s closing level of 2.002%.


Next Week’s Market Moving Reports...Tuesday: Durable Goods Orders, Case-Shiller Home Price Index, New Home Sales, Consumer Confidence Wednesday: Pending Home Sales Thursday: Jobless Claims, Gross Domestic Product 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.



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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

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


Alamo Homes For Sale          Blackhawk Homes for Sale


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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

Steven Nickens
Hawaii Life Real Estate Brokers - Wailea, HI
R(S)GRI ABR, Maui Real Estate Hawaii

Nice flowers and good news

Mar 22, 2013 10:03 AM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

I thought so Bob! Have a great weekend!

Mar 22, 2013 11:22 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 - Another excellent Bay Area Mortgage and Market Update.  I always feel ready for the upcoming week after reviewing your update.  You really serve your clients well by being so informed on the market!

Mar 24, 2013 06:46 AM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Thank you Laura...I always appreciate you stopping by! :)

Mar 25, 2013 02:09 PM