Benchmark Mortgage Rate Inches Up, Short-Term Rate Slips
Having inched down to within 2 basis points (0.02 percentage points) of an all-time low last week, the average rate for a benchmark 30-year mortgage has since inched back up…
Pending Home Sales Down Nearly 50 Percent in San Francisco
While the number of homes listed for sale in San Francisco has started to tick up, the pace of sales has further declined. As we outlined three weeks ago, the…
Pace of Existing-Home Sales Drops, Poised to Plummet
Having jumped 6.5 percent in February, prior to the stock market having dropped and the impact of COVID-19 having taken hold, the seasonally adjusted pace of existing-home sales across the…
Inventory Levels in San Francisco Tick Up, Sales Down
Having held last week, the net number of homes listed for sale in San Francisco (i.e., listed inventory) has since ticked up 17 percent to around 500, which is still…
Bay Area Employment Dropped by at Least 77,000 Last Month
Based on employment data through the second week of March, which predates the bulk of the ongoing economic impact caused by COVID-19, the estimated number of people living in San…
Benchmark Mortgage Rate Inches Down to a Near-Record Low
The average rate for a benchmark 30-year mortgage inched down another 2 basis points over the past week to 3.31 percent, which is 86 basis points (0.86 percentage points) below…
Pending Home Sales Down 40 Percent in San Francisco
As we outlined two weeks ago, the pace of home sales in San Francisco was already “down 20 percent on a year-over-year basis and dropping fast.” And in fact, the…
Number of Homes Now on the Market in S.F. (And Reductions)
Having ticked up last week, the net number of homes on the market in San Francisco (i.e., inventory) has since held. That being said, inventory levels in San Francisco, which…
Benchmark Mortgage Rate Holding Near an All-Time Low
Having dropped 32 basis points (0.32 percentage points) since mid-March, the average rate for a benchmark 30-year mortgage is now holding at 3.33 percent, which is 79 basis points below…
Pace of Home Sales Down 30 Percent in San Francisco
As we outlined last week, the pace of home sales in San Francisco was already “down 20 percent on a year-over-year basis and dropping fast.” As we noted yesterday, the…