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Bay Area Mortgage & Market Update for April 5th

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

 

Bay Area Mortgage & Market UpdateEconomic News...was a little weaker than expected. The ISM Manufacturing Index and Factory Orders results were mixed. While the headline figures were tepid there was some positive data hidden in the underlying numbers. Employment stats for the week were the real market driver. On Wednesday, the ADP Employment Report results predicted a weaker Employment Situation in Friday’s release. This came true with today’s announcement of 88,000 jobs created versus the 193,000 expected. The unemployment rate trended lower to 7.6% but the labor force participation rate dropped from 63.5% to 63.3% which is a level not seen since 1979. Is the Bay Area housing market feeling any pullback from weaker data lately? Not hardly, as new and crazier stories about multiple offers, international buyers, all cash and crazy terms are shared around the “water cooler” on a daily basis.

 

Mortgage Markets...Today’s Employment Report sent the equity markets spinning lower which is benefiting interest rates. 10 Year Note closed trading at 1.710% versus 1.855% versus last week. Only a couple of weeks ago we witnessed the yield passing the 2.00% mark.

 

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

 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

 

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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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© J. Douglas Anderson 2010-2013 All Rights Reserved

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 - This is one of my favorite economic information blog posts out there.  You do a great job in updating what is going on in the Bay Area Mortgage, National Economy, and Local Real Estate Market.  Nicely done!

Apr 06, 2013 07:36 AM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Thanks Laura...I enjoy doing so.

Apr 10, 2013 07:23 AM