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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 […]
Uncategorized Mortgage Rates Rise To Highest Level In 15 Years The uncertainty and volatility in financial markets is heavily impacting mortgage rates. The average rate on a 30-year fixed-rate mortgage reached 6.7 percent, according to a survey released today by Freddie Mac.  This has more than doubled over the last year and is the highest since July 2007. A year ago rates were 3.01 percent. […]
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Uncategorized Mortgage Rate Rises Again The 30-year fixed-rate mortgage increased by a quarter of a percent and now stands at 6.29 percent, Freddie Mac reported today.  The hike comes on the heels of the Federal Reserve’s increase in the 10-year Treasury yield of three-quarter of a percent yesterday, pushing it to its highest level since 2011. Impacted by higher rates, […]
Uncategorized California Housing Supply Improves Housing supply in California improved from a year ago but tightened slightly from the prior month as housing demand rose in August, according to the California Association of Realtors. The statewide Unsolved Inventory Index increased to 2.9 months in August from 1.9 months a year ago.  Weaker housing demand continued to be the primary factor […]
Uncategorized Mortgage Rates Top 6% Mortgage rates continued to rise this week along with hotter-than-expected inflation number, Freddie Mac reported today. The 30-year fixed-rate mortgage average exceeded six percent for the first time since late 2008 when the country was in the midst of the financial crisis.  It now stands at 6.01 percent compared to 2.86 percent a year ago. […]
Uncategorized Orinda Home Prices UP The August Orinda Market Snapshot shows the average sale price of a single family home was $2.45 million which is 21 percent higher than August 2021. In addition there were 22 properties sold in August which is down 55 percent from a year ago.
Uncategorized Mortgage Rates Continue To Rise The 30-year fixed rate mortgage rose to 5.89 percent this week, topping an earlier high in June, according to the weekly survey by Freddie Mac released today. A year ago the rate was below 3 percent. Rates are expected to continue to go up as markets continue to manage the prospective of a more aggressive […]
Uncategorized Home Buyers Gaining Negotiating Power The national inventory of homes for sale grew at a record pace in July for the third consecutive month, according to data from Realtor.com.   The rise in inventory is giving more negotiating power to buyers after two years of a strong, some would say fiery, sellers’ market. “The U.S. housing market continues to move toward […]
Uncategorized The Real Estate Market Is Shifting Each month that goes by, we see big and small shifts in our real estate market. For instance this week, the Mortgage Bankers Association reported that the 30-year fixed-rate mortgage saw the largest weekly decline since 2020, falling to 5.43 percent. It had been 5.74 percent. And the drop in rates led to increases in […]
Uncategorized Walnut Creek July Sales Report
Uncategorized Lafayette July Home Sales Report
Uncategorized Mortgage Rates Drop   The 30-year fixed rate mortgage saw the largest weekly decline since 2020 in the past week, dropping 31 basis points to 5.43 percent, reports Joel Kan, the Mortgage Bankers Association’s Vice President of economic and industry forecasting.  The rate fell from 5.74 percent, having a positive effect on several areas of the real estate […]
Uncategorized Pending Home Sales Fell 8.6% In June WASHINGTON (July 27, 2022) – Pending home sales decreased in June, following a slight increase in May, according to the National Association of REALTORS®. All four major regions posted month-over-month and year-over-year pullbacks, the largest of which occurred in the West. The Pending Home Sales Index (PHSI),* www.nar.realtor/pending-home-sales, a forward-looking indicator of home sales based […]
Uncategorized Slowing Demand is Reshaping The Housing Market Mortgage applications nationwide have fallen for two weeks in a row while sales of previously owned homes have fallen for four straight months. JP Morgan Chase & Co., the country’s largest bank, said recently that mortgage originations fell 45 percent in the second quarter from a year ago.  Mortgage rates are closely tied to yields […]

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