East Bay Mortgage & Market Update for May 24th 2011

By
Real Estate Broker/Owner with Executive Brokers Real Estate Group
http://actvra.in/blp

East Bay Mortgage & Market Update for May 24th 2011


East Bay Mortgage & Market Update - Doug Anderson Executive BrokersEconomic News:  The major portion of market news falls in the latter half of the week. This morning New Home Sales results for April were released. There was a lot to be happy about in the report as the annualized rate was estimated at 323,000. This handily beat the estimates and the underlying data showed a nice reduction in supply which could lead to firmer pricing in the near future. According to the Wall Street Journal “...only 175,000 new homes are up for sale for the lowest total in data that goes back to 1963!”.

Mortgage Markets:  Treasury and Mortgage Backed Securities are losing just a bit of ground today. The 10 Year Note is currently trading at 3.151%.

This Week’s Reports:  Tuesday:  New Home Sales  Wednesday:  Durable Goods Orders  Thursday:  Gross Domestic Product (GDP) & Jobless Claims  Friday:  Personal Income & Outlays, Consumer Sentiment & Pending Home Sales Index

While I do not originate loans I make it a habit to keep abreast of mortgage & market conditions. If you are thinking of purchasing a home the first step is to meet with a mortgage professional. I will gladly provide several top notch Bay Area advisers for your review if you are in need of a referral.

Stay tuned for the Next East Bay Mortgage & Market Update

 

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Thinking of Buying, Selling or would just like to discuss what's going on in your neighborhood?

 Call...

Doug Anderson

Doug Anderson An Independent Real Estate Broker - Executive Brokers, sm

 800.900.2634 Toll Free...925.974.1171 Direct...925.570.0611 Mobile

 

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Any statistics were compiled from Public Records and other industry sources and are deemed reliable but not guaranteed. Any square footage quoted is approximate and requires buyer verification. It is illegal to discriminate against any person because of race, color, religion, sex, handicap, family status or national origin.

 

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Rainmaker
187,205
Dave Gubler
Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch - Lake Forest, CA
Realtor | Orange County

That reduction in available new home inventory is a good sign for everyone!  Great report Doug.  Nice format and to the point.

May 24, 2011 07:12 PM #1
Anonymous
Anonymous
Anonymous

Howdy and evening to you Doug

Doug,
this here sure is another mighty fine East Bay Update.

Have a good one
Dale in New Hampshire

May 24, 2011 07:20 PM #2
Rainmaker
381,834
Doug Anderson
Executive Brokers Real Estate Group - Danville, CA
Doug Anderson's Bay Area Real Estate Views

Thanks Dave. While New Home Sales are a long way off from what is considered healthy there are certainly positive points when you look at the underlying fundamentals.

May 24, 2011 07:46 PM #3
Rainmaker
381,834
Doug Anderson
Executive Brokers Real Estate Group - Danville, CA
Doug Anderson's Bay Area Real Estate Views

And thank you for stopping by Dale.

May 24, 2011 07:46 PM #4
Rainmaker
562,448
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Doug,

The "unoffical man on the street", in the North State, is seeing buyers getting off the fence as they see the market firming up.

Thanks for the commentary,

Steve

May 24, 2011 08:31 PM #5
Rainmaker
381,834
Doug Anderson
Executive Brokers Real Estate Group - Danville, CA
Doug Anderson's Bay Area Real Estate Views

That is great news Steve.

May 24, 2011 09:00 PM #6
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Doug Anderson

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