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…
Below Market Rate One-Bedroom Reduced
Purchased for $495,000 in January of 2020, the Below Market Rate (BMR) unit #101A at 45 Ora Way, a 684-square-foot, one bedroom condo that was remodeled in 2015, returned to…
Number of Homes on the Market in S.F. Ticks Up, Sales Down
Driven by a slowdown in the pace of springtime sales versus a “surge,” the net number of single-family homes and condos on the market in San Francisco ticked up 3…
Inspired Italianate Dwell-ing Returns
As we outlined back in early 2015, after which it sold for $4.65 million, the 1880s-era Italianate at 50 Buena Vista Terrace was rebuilt, remodeled and modernized – including the…
Another “At Asking” Sale Yields Nearly 30 Percent Less
Speaking of a sharp drop in asking prices across San Francisco despite (mis)reports of a “surging” market, the 838-square-foot Yerba Buena Loft unit #911 at 855 Folsom Street, which had…
Average Asking Price for a Home in San Francisco Drops
With the pace of home sales in San Francisco having slowed following a seasonally driven uptick and inventory levels ticking up from a 13-year seasonal high, the average asking price…
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…