Benchmark Mortgage Rate Surpasses 7 Percent
Having hit a 20-year high of 6.92 percent two weeks ago, the average rate for a benchmark 30-year mortgage has since ticked up another 16 basis points (0.16 percentage points)…
Purchase Mortgage Activity Down Over 40 Percent, Locally Too
Having dropped to a 25-year low last week, mortgage loan application volume in the U.S. has since ticked down another 2 percent, driven by a 3 percent drop in purchase…
Breaking News
Bubble (Or Not)
East Bay
Industry Stuff
Marin (And Points North)
Real Estate Economics
San Jose (And South)
Trends
Drop in Bay Area House Values Is Really Accelerating
Having dropped 3.5 percent in July, the S&P CoreLogic Case-Shiller Index for single-family home values within the San Francisco Metropolitan Area – which includes the East Bay, North Bay and…
Enough Empty Office Space for over 150,000 People in S.F.
As we outlined earlier this week, the amount of vacant office space in San Francisco has just hit a new pandemic high of 19.9 million square feet. For context, the…
Timing for Approved 966-Unit Development Pushed Back
Deemed an Environmental Leadership Development Project by Governor Brown back in 2018, which limited the scope and timeline for any EIR-based challenges of the project, the plans for a 55-story…
Office Vacancy Rate in San Francisco Just Hit a New High
Having held at a pandemic high of 21.7 percent in the second quarter of this year, the effective office vacancy rate in San Francisco ticked up another 130 basis points…
Benchmark Mortgage Rate Hits a 20-Year High
The average rate for a benchmark 30-year mortgage jumped another 26 basis points (0.26 percentage points) over the past week to 6.92 percent, an average rate which is now 128…
Pending Home Sales in San Francisco Down Nearly 50 Percent
While the net number of homes on the market in San Francisco, i.e., inventory, has been up an average of 26 percent on a year-over-year basis over the past three…
Asking Rents in San Francisco Slip, Availability Ticks Up
Having held in August, the weighted average asking rent for an apartment in San Francisco actually slipped around a percent in September to $3,725 per month, representing the first pullback…
Mortgage Application Volume Plummets
With the benchmark 30-year mortgage rate nearing a 20-year high, mortgage loan application volume plummeted over 14 percent last week, with a 13 percent drop in applications to purchase a…