Articles Filed Under: Breaking News

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First 30-Year Rate “Inversion” Since 2009

First 30-Year Rate “Inversion” Since 2009

In a move which shouldn’t catch any plugged-in readers by surprise, the average rate for a benchmark 30-year mortgage has dropped another 17 basis points over the past week for an average rate of 3.33 percent, which is now 75 basis points (0.75 percent) below its mark at the... Read More »

Explicit Changes to Local Stay-at-Home Orders

Explicit Changes to Local Stay-at-Home Orders

In addition to extending the existing ‘stay-at-home’ order for Alameda, Contra Costa, Marin, San Francisco, San Mateo and Santa Clara counties through May 3, 2020, the revised order explicitly tightens its restrictions in five significant ways (including the shuttering of non-essential construction projects, which includes hotels): (1) When people... Read More »

Bay Area ‘Stay-at-Home’ Order Extended to May

Bay Area ‘Stay-at-Home’ Order Extended to May

The “stay-at-home” order which was issued for the Bay Area on March 16, and was tentatively slated to remain in place until April 7, is proactively being extended to “at least” May 1.  The official announcement will be made tomorrow (3/31). Per the terms of the original order, which... Read More »

Benchmark Mortgage Rate Drops, Short-Term Rate Jumps

Benchmark Mortgage Rate Drops, Short-Term Rate Jumps

Having spiked last week, the average rate for a benchmark 30-year mortgage has since shed 15 basis points for an average rate of 3.50 percent, which is 56 basis points (0.56 percent) below its mark at the same time last year, according to Freddie Mac’s latest Mortgage Market Survey... Read More »

Number of Homes on the Market in SF Plummets 40 Percent

Having dropped 20 percent in the first few days following San Francisco’s stay at home order having been issued, the number of homes on the market in San Francisco has now dropped 40 percent from the 9-year high it briefly hit last week. The sharp reduction in inventory levels... Read More »

Statewide, More Restrictive, Stay-at-Home Order Issued for CA

“The California State Public Health Officer and Director of the California Department of Public Health is ordering all individuals living in the State of California to stay home or at their place of residence except as needed to maintain continuity of operation of the federal critical infrastructure sectors. Everyone... Read More »

Mortgage Rates Spike

Mortgage Rates Spike

Having inched up from an all-time low of 3.29 percent to 3.36 percent last week, the average rate for a benchmark 30-year mortgage has since jumped another 29 basis points (0.29 percentage points) to 3.65 percent but remains 63 basis points below its mark at the same time last... Read More »

Inventory Levels in SF Drop 20 Percent in 3 Days

Having hit a 9-year high at the beginning of the week, prior to the COVID-19 related stay at home order having been issued in San Francisco and the Dow having dropped an additional 15 percent, for a total drop of over 30 percent since mid-February, the number of homes on... Read More »

Stay-at-Home Order for Bay Area Counties

Stay-at-Home Order for Bay Area Counties

The City and County of San Francisco, along with Alameda, Contra Costa, Marin, San Mateo and Santa Clara Counties, as well as the City of Berkeley, have just issued “stay-at-home” orders which will go into effect at midnight tonight, March 16, and are slated to remain in place until... Read More »

Pace of Home Sales in San Francisco Falls

While the pace of home sales in San Francisco was already starting to slow last month, the slowdown in contract activity has become more pronounced over the past two weeks. In fact, while contact activity in San Francisco was running around 5 percent higher on a year-over-year basis last... Read More »