Sellers “Recalibrating” as Mortgage Rates Climb, Buying Wanes
The average rate for a benchmark 30-year mortgage ticked up another 11 basis points (0.11 percentage points) over the past week to 5.66 percent, an average rate which is now…
Number of Homes for Sale in San Francisco Poised to Jump
The net number of homes on the market in San Francisco (i.e., inventory) has effectively held at 1,140 over the past two weeks despite typically dropping over 10 percent at…
Benchmark Mortgage Rate Surges Back Over 5.5 Percent
Having dropped under 5 percent for the first time in four months three weeks ago, the average rate for a benchmark 30-year mortgage has since surged 56 basis points (0.56…
Number of Homes for Sale in San Francisco Drops, But…
Having hit a seasonal peak last month, which shouldn’t have caught any plugged-in readers by surprise, the net number of homes on the market in San Francisco (i.e., inventory) has…
Benchmark Mortgage Rate Jumps Back Over 5 Percent
Having dropped under 5 percent for the first time in four months last week, driven by an “increased risk of a formal recession and declining consumer confidence overall,” the average…
Purchase Mortgage Activity Ticks Down Despite Lower Rates
While mortgage loan application volume in the U.S. inched up 0.2 percent on a seasonally adjusted basis over the past week overall, driven by a 4 percent increase in the…
Over 40% More Sub-Million Dollar Homes on the Market in SF
While the net number of condos and single-family homes listed for sale in San Francisco (1,160) ticked down 2 percent over the past week, as is typical for the first…
Benchmark Mortgage Rate Plunges Back Under 5 Percent
Despite the Fed’s recent rate hikes, the average rate for a benchmark 30-year mortgage had plunged from 5.81 to 4.99 percent over the past six weeks, including a 31 basis…
Buyer Pool Shrinks, Pending Home Sales in the U.S. Down 20 Percent
Having inched up 0.7 percent in May, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, dropped…
Pending Home Sales in San Francisco Down Over 30 Percent
As we outlined earlier this week, the recent decline in listed inventory levels in San Francisco is being driven by a slowdown in new listing activity versus an increase in…