CFAH

Articles Filed Under: Trends

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Purchase Mortgage Activity Down 17 Percent for New Homes

While purchase mortgage application volumes for new home purchases across the nation ticked up 9 percent from July to August, application volumes were down 17 percent on a year-over-year basis, according to the Mortgage Bankers Association and despite the fact that there were over 26 percent more new homes... Read More »

Number of Homes for Sale in San Francisco Ticks Up

Number of Homes for Sale in San Francisco Ticks Up

Having jumped last week with the most new listings in over 15 years, which shouldn’t have caught any plugged-in readers by surprise, the net number of homes for sale in San Francisco (i.e., inventory) has since ticked up another 11 percent to 1,180. While inventory levels in San Francisco... Read More »

Bay Area Employment Slipped Last Month

Bay Area Employment Slipped Last Month

Having jumped by (a downwardly revised) 11,600 in July, the number of people living in San Francisco with a paycheck (529,600) slipped by 2,200 in August. But with 3,700 people having left the labor force, the unemployment rate actually inched down to 5.0 percent. And while there are still... Read More »

Benchmark Mortgage Rate Inches Down

Benchmark Mortgage Rate Inches Down

The average rate for a benchmark 30-year mortgage inched down 2 basis point (0.02 percentage points) over the past week to 2.86 percent, which is effectively even with the prevailing average rate at the same time last year (2.87 percent) and within 21 basis points of its all-time low.... Read More »

Purchase Mortgage Activity in the U.S. Only Down 12 Percent

Mortgage loan application volumes to either purchase or refinance a home in the U.S. dropped 10 percent in the absolute over the past week but inched up 0.3 percent on a seasonally/holiday adjusted basis, according to the Mortgage Bankers Association. And while purchase mortgage activity was down 12 percent... Read More »

Number of Homes for Sale in San Francisco Jumps

With around 400 homes listed for sale in San Francisco over the past week, which is the most new listings in a week in over 15 years, the net number of homes for sale in the city jumped over 30 percent to 1,070, as projected, yielding the most for... Read More »

New Unemployment Claims Drop but Remain Historically High

New Unemployment Claims Drop but Remain Historically High

The number of new unemployment claims filed across the Bay Area dropped to 126,835 in July, which was the fewest new claims in a month since the pandemic hit, down from a pandemic high of 441,813 in March of last year and versus an average of 190,400 a month... Read More »

Mortgage Rates Are Holding, Application Volumes Have Dropped

Mortgage Rates Are Holding, Application Volumes Have Dropped

The average rate for a benchmark 30-year mortgage has inched up a total of 1 basis point (0.01 percentage point) over the past two weeks to 2.88 percent, which is only 2 basis points above the benchmark rate at the same time last year and within 22 basis points... Read More »

Purchase Mortgage Activity Continues to Drop in the U.S.

Mortgage loan application volumes to either purchase or refinance a home in the U.S. dropped another 3 percent over the past week, or a combined 1.9 percent on a seasonally adjusted basis, according to the Mortgage Bankers Association. As such, purchase mortgage activity in the U.S. is back to... Read More »

Home Buying Activity in S.F. Just Slipped Year-Over-Year

As we noted two weeks ago, pending home sales activity in San Francisco, which peaked in April, was on track to drop on a year-over-year basis “within the next few weeks.” And in fact, for the first time since June of last year, there are fewer single-family homes and... Read More »