Purchase Mortgage Activity Ticks Down, Jumbo Rates Jump
Purchase mortgage application volume in the U.S. was effectively unchanged over the past week in the absolute but ticked down a (1) percent on a seasonally adjusted basis and was…
Inventory Ticks Up in San Francisco, Average Asking Price Down
The net number of single-family homes and condos on the market in San Francisco ticked up another 3 percent over the past week from a 13-year seasonal high, with 7…
Expected Value of Rate Cuts Tumbles, Again
As we first outlined earlier this year, the expected value of the Fed’s rate cuts in 2024 was on the decline, with our analysis suggesting fewer than half the number…
Benchmark Mortgage Rate Back Above 7 Percent
The average rate for a benchmark 30 year mortgage jumped 22 basis points (0.22 percentage points) over the past week to 7.10 percent, which is 71 basis points higher than…
Benchmark Mortgage Rate Back Near 7 Percent
Following a trend that shouldn’t catch any plugged-in readers by surprise, the average rate for a benchmark 30 year mortgage ticked up another 6 basis points (0.06 percentage points) over…
Expected Value of Rate Cuts Drops
As we first outlined early last month, based on an analysis of the futures market for interest rate products, the expected value of the Fed’s rate cuts was suggesting there…
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The Claws Are Coming Out, Right Here in River City
From the active listing for a condo in the “ost sought after location in all SF,” which is currently listed below its stated assessed value (in 2022), having been “emodeled…
Benchmark Mortgage Rate Inches Down to 6.79 Percent
With the expected value of the Fed’s rate cuts holding at a total of three (3) quarter-point rate cuts in 2024, as we first calculated a few weeks ago and…
The Fed Affirms, Mortgage Rates Tick Up
As we first calculated a couple weeks ago, “the expected value of the Fed’s rate cuts this year has effectively held firm forecasting a total of three (3) quarter-point rate…
Benchmark Mortgage Rate Drops, Rate Cut Expectations Slip
The average rate for a benchmark 30 year mortgage dropped 14 basis points (0.14 percentage points) over the past week to 6.74 percent, which is still 14 basis points higher…