Bay Area Mortgage & Market Update for April 26th

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

Mortgage and Market Update

 

Bay Area Mortgage & Market UPdateEconomic News...Both the debt and equity markets clawed their way higher this week. Two words summed up the Existing Home Sales Report: Tight Inventory. Sales did not meet expectations but this was not due to buyer demand. The pricing component was also exceptionally strong. New Home Sales came in slightly under consensus. Weekly Jobless Claims posted a nice number while Consumer Sentiment beat estimates which hopefully points to a nice May. Lastly, Gross Domestic Product, limped in at a disappointing 2.5% compared to the 3.1% forecast.

 

Mortgage Markets...The weaker than expected GDP number has helped mortgage rates today. The 10 Year Note closed trading at 1.668% which is just slightly better than last week’s closing yield of 1.707%.

 

Next Week’s Market Moving Reports...Monday: Pending Home Sales, Personal Income & Outlays Tuesday: Case-Shiller Home Price Index, Consumer Confidence Wednesday: ADP Employment Report, ISM Manufacturing Index, FOMC Meeting Announcement Thursday: Jobless Claims, International Trade Friday: Employment Situation, Factory Orders

 

While I do not originate mortgages, I make it a habit to keep abreast of market & home loan 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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