Purchase Mortgage Activity Ticks Back Down
Purchase mortgage application volume in the U.S. ticked back down 2 over the past week, both in the absolute on a seasonally adjusted basis, and was down 14 percent on…
Expected Value of Rate Cut(s) Holds
Having tumbled over the past two quarters, as we first outlined earlier this year, the expected value of the Fed’s rate cuts in 2024 is now holding, with the average…
Mortgage Credit Availability Holding Around a 12-Year Low
Having dropped to its lowest level since 2012 at the end of last year, mortgage credit availability, as indexed by the Mortgage Bankers Association (MBA) has since inched up a…
Benchmark Mortgage Rate Ticks Over 7.2 Percent, Poised to Moderate
Measured prior to yesterday’s affirmation from the Fed, the average rate for a benchmark 30-year mortgage had already ticked up another 5 basis points (0.05 percentage points) to 7.22 percent,…
The Fed Affirms, Rate Cut(s) Pushed Back
As we first outlined back in February, when the average 30-year mortgage rate was only 6.64 percent, our analysis of the futures market was projecting far fewer rate cuts than…
Purchase Mortgage Activity Drops, Jumbo Rates Inch Down
Purchase mortgage application volume in the U.S. dropped 2 percent on a seasonally adjusted basis and 1 percent in absolute over the past week and was 14 percent lower than…
Index for Bay Area Home Values Ticks Up, First Gain in Five Months
The S&P CoreLogic Case-Shiller Index for single-family home values within the San Francisco Metropolitan Area (i.e., “San Francisco,” which includes the East Bay, North Bay and Peninsula) ticked up nearly…
Number of Homes on the Market in S.F. Holds, Prices Drop
The net number of single-family homes and condos on the market in San Francisco effectively held at a 13-year seasonal high over the past week as a slowdown in the…
Average Asking Rent in S.F. Ticks Up for First Time in Eight Months, But…
The weighted average asking rent for an apartment in San Francisco ticked up a (1) percent over the past month to $3,330, representing the first uptick in eight months. That…
Benchmark Mortgage Rate Continues to Climb
Having leapt back over 7 percent last week, the average rate for a benchmark 30-year mortgage has since ticked up another 7 basis points (0.07 percentage points) to 7.17 percent,…