Mortgage Credit Availability Drops, Lending Standards Tighten
Despite a drop in the benchmark 30-year mortgage rate to only 6.61 percent, the decline of which has since leveled off, mortgage credit availability dropped 4.6 percent in December, with…
Mortgage Rates Inch Up
Having dropped to a six-month low of 6.61 percent at the end of 2023, the average rate for a benchmark 30-year mortgage has since inched up a (1) basis points…
Purchase Mortgage Activity Keeps Ticking Down
Despite a drop in mortgage rates to a six-month low, purchase mortgage application volume in the U.S. ticked down 5 percent on a seasonally adjusted basis over the past two…
Number of Homes on the Market in S.F. Poised to Jump
There were 12 percent fewer homes on the market in San Francisco at the end of 2023 than there were at the end of 2022, driven by a pronounced drop…
New Home Sales Drop, Inventory Nearing a 15-Year High
As we outlined earlier this month, application volume for new home loan purchases in the U.S. was on the decline despite a year-over-year gain last month. And in fact, the…
Benchmark Mortgage Rate Drops to a Six-Month Low, And…
Having slipped back under 7 percent last week, the average rate for a benchmark 30-year mortgage has since dropped another 28 basis points (0.28 percentage points) to 6.67 percent, which…
Benchmark Mortgage Rate Slips Back Under 7 Percent
The average rate for a benchmark 30-year mortgage has slipped back under 7 percent for the first time in four months, inching down 8 basis points (0.08 percentage points) over…
Refinancing Activity Drives Mortgage Application Volume Up, Not Purchases
While the Mortgage Bankers Association’s index for mortgage loan application volume increased 6 percent last week, said increase was actually driven by refinancing activity, the sub-index for which jumped 19…
Asking Prices in S.F. Tick Down, Expectation Gap Up
Having dropped over 10 percent from early last year, the asking price per square foot of the homes on the market in San Francisco is now averaging around $970 per…
Asking Rents in San Francisco Drop, Down Year-Over-Year
The weighted average asking rent for an apartment in San Francisco just dropped back under $3,500 a month, which is 3 percent lower than at the same time last year,…