Benchmark Mortgage Rate Nears 7 Percent
Following a key trend that shouldn’t catch any plugged-in readers by surprise, the average rate for a benchmark 30 year mortgage ticked up another 13 basis points (0.13 percentage points)…
Over Asking in Bayview
As we outlined earlier this year: Purchased for $1.170 million in early 2021, having been taken “down to the studs” and modernized, “with no details left unfinished,” back in 2019,…
Approved Duboce Triangle Development! (Listed for Sale)
Having been successfully entitled for a modern five-story, 31-unit building to rise up to 56 feet in height on the 12,500-square-foot Duboce Triangle site last year, the former furniture warehouse…
Purchase Mortgage Activity Drops
Despite some misreports of a “market rebound” last week, purchase mortgage application volume in the U.S. dropped another 6 percent in the absolute, representing a 10 percent drop on a…
Number of Homes for Sale in San Francisco Trending Up, Sales Down
As we projected, the net number of condos and single-family homes listed for sale in San Francisco (i.e., inventory) continues to climb, having ticked up another 7 percent over the…
A Quintessential Nob Hill Condo and View
Purchased for $2.500 million in May of 2019, the 1,859-square-foot, full-floor Nob Hill condo at 1049 Clay Street returned to the market listed for $2.299 million this past October. Positioned…
New Home Sales Activity Gains, Average Loan Size Slips
The mortgage application volume for new home purchases in the U.S. was up 19 percent on a year-over-year basis in January and the seasonally adjusted pace of sales, which had…
Benchmark Mortgage Rate Ticks Up to 6.77 Percent
As we outlined last week, prior to a market shock that appears to have caught some by surprise, the expected value of the Fed’s interest rate cuts this year was…
Condo Converted and Relisted for Less in Cole Valley
Purchased as an established TIC unit in a six-unit building for $910,000 in November of 2017, the light-filled, top floor one-bedroom unit #5 at 762-764 Cole Street returned to the…
Don’t Confuse Seasonality with a Rebound or “Pivot”
At a time of the year when industry folks and the media have been known to conflate basic seasonal trends with a market rebound or “pivot!,” purchase mortgage application volume…