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Articles Filed Under: Breaking News

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Pace of New Home Sales in the U.S. Ticks Up, But…

Pace of New Home Sales in the U.S. Ticks Up, But…

Having dropped 12.0 percent in April, the seasonally adjusted pace of new single-family home sales in the U.S. increased 10.7 percent in May to an annualized rate of 696,000 sales.  That being said, the pace of new home sales last month was down 5.9 percent on a year-over-year basis... Read More »

Benchmark Mortgage Rate Crosses Its 30 Year Average

Benchmark Mortgage Rate Crosses Its 30 Year Average

Having inched up another 3 basis points (0.03 percentage points) over the past week to 5.81 percent, which is the highest average 30-year mortgage rate since November of 2008, the benchmark mortgage rate is now above its 30 year average for the first time in over two decades and... Read More »

Pace of Existing Home Sales in the U.S. Continues to Fall

Pace of Existing Home Sales in the U.S. Continues to Fall

Having dropped 2.4 percent in April, the seasonally adjusted pace of existing-home sales across the U.S. fell another 3.4 percent in May to an annual rate of 5.41 million sales, representing the tenth straight month with a year-over-year decline in sales, the largest year-over-year decline (8.6 percent) since the... Read More »

Over 570,000 Bay Area Jobs Have Been Recovered, 79K to Go

Over 570,000 Bay Area Jobs Have Been Recovered, 79K to Go

Having slipped in April, the net number of people living in San Francisco with a paycheck inched up by 1,100 in May to 556,100. As such, there are now 48,900 more employed residents in San Francisco than there were at the same time last year and 77,400 more than... Read More »

Benchmark Mortgage Rate Rockets, Nearing 6 Percent

Benchmark Mortgage Rate Rockets, Nearing 6 Percent

The average rate for a conforming 30-year mortgage rocketed 55 basis points (0.55 percentage points) over the past week to 5.78 percent which is the highest average rate since November of 2008.  As such, the current 30-year rate is now 97 percent higher than at the same time last... Read More »

All Eyes on The Fed and Projected Rate Hike(s), Again

The probability of the Fed raising the federal funds rate by three quarters of a percentage point (75 basis points) this afternoon has jumped from under 10 percent last week to over 95 percent today, based on an analysis of the futures market. As such, the benchmark 30-year mortgage... Read More »

Pending Home Sales in San Francisco Down Nearly 30 Percent

As we outlined at the end of May: Having slipped in April, representing an atypical decline in activity in the midst of the traditional spring buying/selling season, the number of single-family homes and condos in contract across San Francisco has dropped 14 percent over the past month despite the... Read More »

Benchmark Mortgage Rate Ticks Back Up, Poised to Climb

Benchmark Mortgage Rate Ticks Back Up, Poised to Climb

Having inched down to 5.09 percent last week, the average rate for a conforming 30-year mortgage has since ticked back up to 5.23 percent which is back to within 7 basis points (0.07 percentage points) of the 670-week high it hit last month. As such, the current 30-year rate... Read More »

Mortgage Application Volume in the U.S. Drops to a 22-Year Low

Mortgage loan application volume dropped another 6.5 percent last week on a seasonally/holiday adjusted basis and 17 percent in the absolute, with a 6 percent adjusted drop in applications to refinance and a 7 percent drop in purchase mortgage activity, according to data from the Mortgage Bankers Association’s. And... Read More »

Index for Bay Area House Values Jumped in March

Index for Bay Area House Values Jumped in March

Having increased 3.7 percent in February, 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 Peninsula – jumped another 4.9 percent in March for a year-over-year gain of 24.1 percent, three and a half... Read More »