Uncategorized Mortgage Rates Reverse Course After weeks of declines, the interest rate for a 30-year mortgage reversed course, jumping to a 6.39% average this week, Freddie Mac reports. “For the first time in over a month, mortgage rates moved up due to shifting market expectations,” says Sam Khater, Freddie Mac’s chief economist. “Home prices have stabilized somewhat, but with supply […]
Uncategorized A Staged Home Attracts Potential Buyers   Nearly half of sellers’ agents (48%) report that staging a home decreased its time on the market, according to a new report by the National Association of Realtors. For both buyers’ and sellers’ agents, one if five said home staging creased the purchase price between one and five percent compared to unstated homes on […]
Uncategorized Mortgage Rates Continue To Decrease For the fourth consecutive week, mortgage rates edged down with the average 30-year fixed rate mortgage now at 6.28 percent, Fannie Mae reported yesterday.  Economic uncertainty continues to bring mortgage rates down, its report said, noting that over the last several weeks, declining rates have brought borrowers back to the market.  But as the spring […]
Uncategorized Walnut Creek March Sales Snapshot Compared to March 2022
Uncategorized Orinda March Sales Snapshot
Uncategorized Spring Housing Market Showing Strength   The spring housing market in the Lamorinda area is looking good largely due to the continued low inventory.  Well-priced homes continue to see multiple offers. The market snapshot here shows the March 2023 sales figures for Lafayette compared to March 2022.  
Uncategorized Home Sales Surge In The US WASHINGTON (March 21, 2023) – Existing-home sales reversed a 12-month slide in February, registering the largest monthly percentage increase since July 2020, according to the National Association of REALTORS®. Month-over-month sales rose in all four major U.S. regions. All regions posted year-over-year declines. Total existing-home sales,1 https://www.nar.realtor/existing-home-sales – completed transactions that include single-family homes, townhomes, […]
Uncategorized Mortgage Rates Approach 7 Percent   The average rate on the 30-year fixed rate mortgage rose to 6.73 percent yesterday from 6.65 percent last week, according to mortgage buyer Freddie Mac. A year ago the rate was 3.85 percent.  Despite fluctuations, mortgage rates have been trending upward, remaining nearly double what they were a year ago “Mortgage rates continue their […]
Don't Miss Our Next Post
Subscribe Now
Uncategorized Mortgage Rates Heading UP The average 30-year fixed rate mortgage rose to 6.65 percent yesterday from 6.50 percent the week before, reported mortgage buyer Freddie Mac. A year ago the average rate was 3.76 percent.  “As we started the year, the 30-year fixed rate mortgage decreased with expectations of lower economic growth, inflation, and a loosening monetary policy. However […]
Uncategorized Is The Housing Market On The Rise? A slight decline in mortgage rates in December and January contributed to an improvement in pending home sales for the second consecutive month. That’s according to data released this week from the National Association of Realtors. The pending index for January improved 8 percent. “Buyers responded to better affordability from falling mortgage rates,” said NAR […]
Uncategorized Snapshot of Lafayette Sales in January
Uncategorized Is The Market Crashing? The headlines can be alarming: “US Suffering From Second Biggest Home Price Correction of the Post-WWII Era”.  When you hear the experts discuss real estate, keep in mind that all markets are local.  And no. The market isn’t crashing. The market is coming down from a couple of years of fire-breathing acceleration, though.  Some call […]
Uncategorized U.S. Home Sales Continue To Decline Existing-home sales in the U.S. declined for the 10th straight month in November, the National Association of Realtors reported today. This record stretch of declines reflects the high mortgage rates and home prices that have caused many buyers to leave the market. “Today’s sales activity in November is essentially almost the same as that lockdown […]
Uncategorized Repairs To Help Sell Your House In A Cooling Market Selling a home today takes more work than it did a year ago. Back then home sellers could expect multiple bids to be rolling in once it hit the Multiple Listing Service even if the property was dated and in need of  repairs. Today with mortgage rates at 6.31 percent for the 30-year fixed-rate mortgage, […]
Uncategorized Mortgage Rates Continue To Drop   Mortgage rates continue to drop as optimism grows that the Federal Reserve will slow down the pace of its rate hikes.  Mortgage rates are tied to the 10-year treasury. But even with the past few weeks of declines, the rate for the 30-year fixed-rate mortgage is more than double what it was a year […]
Uncategorized Trick Or Treat? The average sale price of a single-family home in Lafayette over the past 30 days is $2.03 million, up 7 percent from a year ago.  However, the market slowdown can be seen in the sales price to list price ratio which is 101 percent, still good but down 8 percent from 2021.  Inventory still is […]
Uncategorized Mortgage Rates Top 7 Percent The 30-year fixed-rate mortgage averaged 7.08 percent this week, up from 6.94 percent the week before, according to Freddie Mac. This is high highest rate since 2002 and more than double the rate a year ago.  Mortgage rates have risen nearly every week since August, the rapid rise driven by the Federal Reserve’s campaign of […]
Uncategorized Our Changing Market   Here is a snapshot that shows how our local market is changing.
Uncategorized Mortgage Rates Jump To Highest Level In 20 Years Mortgage rates this week reached their highest level in 20 years and they are expected to continue rising.  The average 30-year fixed-rate mortgage reached 6.92 percent, according to a survey of lenders released Thursday by Freddie Mac. In many cases the rates are reportedly over 7 percent. This is up from 3 percent at the […]
Uncategorized Mortgage Rates Dip Slightly   The 30-year fixed-rate mortgage averaged 6.66% with an average 0.8 point as of Thursday, down from last week when it averaged 6.70%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 2.99%. “Mortgage rates decreased slightly this week due to ongoing economic uncertainty,” said Sam Khater, Freddie Mac’s Chief […]