East Bay Mortgage & Market Update for November 23rd...HAPPY THANKSGIVING!

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

Mortgage and Market Update for November 23rd


Credit to Mary VogtEconomic News: Another week dominated by the debt crisis in the European Union has let the air out of the US Equity Markets. The Congressional “Supercommittee” (And I use that term loosely) "punting" on any kind of debt reduction did not help matters either. In spite of worldwide governments coming up short on leadership the US Economic reports for the week were not bad. Existing Home Sales beat expectations and while pricing is under pressure inventory is down. Gross Domestic Product was revised lower on an annual basis to 2% from 2.5%. Durable Goods Orders beat estimates and Consumer Sentiment remained little changed from last month. Personal Income was up 3.9% year over year and spending was reported higher by 4.7% over the same period. Lastly, Weekly Jobless Claims were up slightly but the four week moving average, continuing a trend, moved lower. Now it’s time to lay aside all concerns and enjoy what we have to be thankful for.

Mortgage Markets: Treasuries and Mortgage Backed Securities. The 10 Year Note is currently trading at 1.886% which is down from last week’s closing of 2.014%. Mortgage Back Securities have performed well this week and interest rates have trended slightly lower over the last three days.

Next Week’s Reports: Monday: New Homes Sales Tuesday: Consumer Confidence, Case-Shiller Home Price Index Wednesday: ADP Employment Report, Pending Home Sales Index, Beige Book Thursday: Jobless Claims, ISM Manufacturing Index Friday: Employment Situation

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.

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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
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Doug, Thank you for the update, have a Happy Thanksgiving,  best wishes from your greater Los Angeles Real Estate connection:)

November 23, 2011 07:49 PM #1
Anonymous
Anonymous
Anonymous

Howdy and evening Doug

Doug, that there sure is a mighty cool looking Turkey. I sure wanted to be sure stop by to leave you and your family this here little ole, Happy Thanksgiving to you and your family.

May each and every day bring you and your family many blessings!

Have a good one
Dale in New Hampshire

November 23, 2011 10:01 PM #2
Rainmaker
382,034
Doug Anderson
Executive Brokers Real Estate Group - Danville, CA
Doug Anderson's Bay Area Real Estate Views

You bet Endre. Have a Wonderful Thanksgiving as well.

I thought so too Dale. You and yours have a fine Thanksgiving.

November 23, 2011 10:34 PM #3
Ambassador
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Renée Burrows
Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate - Las Vegas, NV
Las Vegas Real Estate Broker - www.urLVhome.com

Hope you had a wonderful Thanksgiving!  Sorry we are late to the party:

November 25, 2011 08:18 PM #4
Rainmaker
382,034
Doug Anderson
Executive Brokers Real Estate Group - Danville, CA
Doug Anderson's Bay Area Real Estate Views

The "Doggies" are always welcome Renee. Hope you and yours had a fine Thanksgiving!

November 25, 2011 09:02 PM #5
Rainmaker
1,108,139
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

Hope you're having a great Thanksgiving weekend. Good luck in closing the year out strong.

November 27, 2011 05:32 PM #6
Rainmaker
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Doug Anderson
Executive Brokers Real Estate Group - Danville, CA
Doug Anderson's Bay Area Real Estate Views

Yes Jim it was a great weekend. Best wishes to your year end as well...

November 27, 2011 11:51 PM #7
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Doug Anderson

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