Articles Filed Under: Breaking News

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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 »

Number of Homes on the Market in SF Hits a 9-Year High

Number of Homes on the Market in SF Hits a 9-Year High

Continuing to follow a trend which shouldn’t catch any plugged-in readers by surprise, the number of homes on the market in San Francisco has jumped 50 percent since the Super Bowl to 750.  And in fact, inventory levels are now running 17 percent higher than at the same time... Read More »

The Fed Just Dropped Rates to Near-Zero, And…

Having already rolled out an emergency rate cut of 50 basis points two weeks ago, the Federal Reserve has just announced an even larger cut of a full percentage point (100 basis points), resulting in a target federal funds rate of zero to 0.25 percent (which the Fed expects... Read More »

Charges Against Former Building Commission President Grow

Charges Against Former Building Commission President Grow

As we first reported back in 2018: San Francisco’s City Attorney, Dennis Herrera, has just filed suit against construction engineering firm Santos & Urrutia Associates, its principals and several clients and contractors over “an elaborate scheme” to excavate and expand under multiple San Francisco homes without securing proper permits... Read More »