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SEARCHRates Fall for Fifth Consecutive Week
The 30-year fixed rate mortgage is now at the lowest level since Jan. 26 of this year at 6.14% from 6.18 a week ago according to Freddie Mac.Ă‚
The 15-year, fixed-rate mortgage is now at the lowest level since Feb. 2, 2006Ă‚ at 5.87 percent, down from 5.91 percent last week but up slightly from [...]
Existing sales on the rise, but prices are not following
Existing home sales increased .5% to an adjusted annual rate of 6.24 million last month. The National Association of Realtors reported on Tuesday that it was the first increase after seven consecutive monthly declines.Ă‚
David Lereah, chief economist for the Realtors, said he expected home prices to continue falling for the rest of the year [...]
Mortgage Activity at 10-Month High
Home-loan volume, buoyed by the lowest interest rates seen since January of this year, surged 4.3 percent last week. The Mortgage Bankers Association reported a 6.5-percent jump in refinancing demand, which reached its highest level in more than 12 months.
Meanwhile, purchase-loan applications, which two weeks ago were at a three-year low, rebounded 2.7 percent for [...]
Loan Rates Decrease and Applications Rise
Interest rates were down slightly and mortgage applications were up almost even with last year, despite a week shortened by the Veteran’s Day holiday, according to the Mortgage Bankers Association.
The Market Composite Index, a measure of mortgage loan application volume, was 647.5, an increase of 4.3 percent on a seasonally adjusted basis from 620.9 one [...]
Delinquency Rate Soars on Riskiest Loans
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Values of homes are not jumping off the paper any longer, borrowers who expected to see fast appreciation may see their selves on the wrong side of the market. Many sellers are in serious trouble and need someone to bail them out, in this case a buyer. Just as fast appreciation cannot last forever, [...]
Pleasanton’s October numbers
As we look at the numbers for October and head into the holiday season, sold home numbers are off from the recent highs of the past few months. October ‘05 saw 52 homes sell compared to 48 last month. In comparison toĂ‚ the past few months there is a decline in both sold and available [...]
Bay Area Market Times Update
Below is the weekly update on Days on the Market for East Bay communities.
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Will prices ever go up? When is a good time to buy?
Do you think the real estate market has no where to go except down? You are not the first one. History proves that even the ‘Experts have had it all wrong, time and time again.’
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“The prices of houses seem to have reached a plateau, and there is reasonable expectancy that prices will decline.”- Money [...]
East Bay Communities Market Time
Understanding what the market is doing and how long a home can expect to take to sell is powerful information as a Buyer and Seller. Dont think that you can wait forever to write an offer on a home. We are seeing multiple offers come back into play. If you are looking for the right [...]
Greenspan said so…
There are as many opinions on the state of the housing market as there are economists, realtors, mortgage lenders and consumers. So does anyone know when the market will change? Probably not, but Greenspan has his own opinion. As former chair of the Federal Reserve, Greenspan told the Commercial Finance Association yesterday (10/25/06) that housing [...]
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Recent Comments:
- philip c. romero: i may be purchasing a condo in daville about the price range of 360,000 and wanted to know what...
- Morgan Hill Real Estate: Great blog and really nice site. I liked the video tips piece. Hope 2010 is the best year...
- Joe Hackman: Wow, down 67%! Impressive, let me know when you get the data updated I’d love to see it. Joe
- The Moxley Team: Hi Joe, In Danville the inventory is low compared to a year ago. Ill have some information on it...
- Joe Hackman: How is the inventory right now in Danville? I don’t see many for sale signs? Are sales picking up?...
