Bay Area Mortgage & Market Update for May 17th

By
Real Estate Agent with Tucker Associates Real Estate Services Broker, CalBRE 01165309
https://activerain.com/droplet/VTW

Mortgage and Market Update

Bay Area Mortgage & Market UpdateEconomic News...Back to a week of mixed data but the Stock Market continues to pretty much ignore negative news and move higher. This run to new highs has left the bond markets under continued pressure. Retail Sales, while not robust, did show signs that the consumer is feeling more comfortable spending on discretionary items. The manufacturing sector contracted a bit in April with both production and capacity utilization easing. Weekly Jobless Claims jumped unexpectedly to 360K after being range bound for the last few weeks around the 330K level. Inflation concerns continue to be muted and Consumer Sentiment rounded out the week “blowing by” anticipated levels.

Mortgage Markets...Mortgage rates continue to trend higher. Thursday’s data provided a bit of a rally but yields on Mortgage Backed Securities and the general bond market are again under pressure. The 10 Year Note is currently trading at 1.956% which is up from last week’s closing yield of 1.898%.

Next Week’s Market Moving Reports...Wednesday: Existing Home Sales, Federal Open Market Committee Minutes Thursday: Jobless Claims, New Home Sales Friday: Durable Goods 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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San Ramon Home Search          Danville 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.

 

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© J. Douglas Anderson 2010-2013 All Rights Reserved

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Rainmaker
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Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Doug - You make it really easy to follow the key economic market indicators.  You're comment on the stock market continuing to move up despite negative news, is oh, so true.  I hope things remain stable and with little change!

May 17, 2013 09:19 AM #1
Rainmaker
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Barbara Hensley
RE/MAX Properties - Rockwall, TX
Homes for Sale in Rockwall County, Texas

Doug, thanks for keeping us posted on market trends.  Have a great day!

May 17, 2013 09:38 PM #2
Ambassador
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Dale Baker
Baker Energy Audits and Commercial Properties Inspections - Claremont, NH
New Hampshire Relocation Real Estate Information

Howdy and afternoon Doug

Doug my friend, just as always, this sure is a mighty fine Market and Update report for folks to read!

Have a good one

Dale in New Hampshire

May 21, 2013 09:00 AM #3
Rainer
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Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Thanks Laura, Barbara & Dale....I completely overlooked the comments on this one! Best!

Jun 11, 2013 01:31 PM #4
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Doug Anderson

Bay Area Real Estate Views
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