The “Facebook IPO Effect” and the Silicon Valley Housing Market

As soon as Facebook announced its pending IPO, many Realtors and mortgage professionals in the Silicon Valley were anticipating the ripple effect into the local housing market. Potential home buyers are worried that perhaps home prices will rise with all this new found wealth flooding the market. The dilemma is that consistently low inventory available […]

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San Jose Weekly Mortgage Market Commentary 01/03/2010

Your weekly dose of economy and mortgage market news that affects mortgage rates for San Jose Home Home owners and buyers. The Week that was: Another bad week for the bond and mortgage markets. The 10 yr treasury note and mortgage rates have now increased 60 basis points in the past three weeks. Freddie Mac […]

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San Jose Weekly Mortgage Market Commentary 12/20/2009

The week that was: The statement from the last FOMC meeting wasnt much of a change. The fed stuck to keeping the rates low for “extended period”. But how “extended” is “extended” – now that’s anybody’s guess! Freddie Mac’s weekly Primary Mortgage Market Survey reported 30-year fixed-rate mortgage (FRM) averaged 4.94 percent with an average […]

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San Jose Weekly Mortgage Commentary 12/6/09

The week that was Oct existing and new home sales were much better than economists thought, the manufacturing sector better than thought, and auto sales stronger. The Nov employment report on Friday really shook things up; job losses only 11K with the unemployment rate lower, to 10.0% frm 10.2% in Oct and Sept. Interest rates […]

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San Jose Weekly Mortgage Market Commentary 11/29/2009

The week that was: The minutes from the 11/4 FOMC meeting were released. Fed’s minutes reiterated the Fed isn’t anywhere close to increasing interest rates. Fed governors and regional bank presidents predicted the jobless rate will range from 9.3% to 9.7% in next year fourth quarter. Oct personal income increased 0.2% and spending was up […]

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Affordability Index Dropping in Santa Clara – Why is that a bad news for First-Time Buyers

Affordability Index has been dropping in Santa Clara county. California Association of Realtors (C.A.R.) measures First-time Buyer Housing Affordability Index (FTB-HAI) on a quarterly basis. This measures the percentage of households that can afford to purchase an entry-level home in California. The higher the index, more affordable it is for a first time buyer to […]

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Existing Home Sales Jumps 10.1%

Home sales jumped in October, rising far more than expected as First Time Home Buyer Tax Credit offset fears about joblessness. Sales of existing homes increased by 10.1% to a 6.10 million annual rate from 5.54 million in September, the National Association of Realtors (NAR) said Monday. Total housing inventory at the end of October […]

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San Jose Weekly Mortgage Market Commentary 11/01/2009

The week that was: A good week for the interest rate markets. Mortgage interest rates declined about 10 basis points. Treasury once again successfully sold $123B of notes in four auctions. Consumer confidence measured by The Conference Board declined more than expected, implying consumers may not be as convinced of a recovery as the equity […]

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San Jose Weekly Mortgage Market Commentary 10/25/2009

The week that was: Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of RealtorsĀ®. Existing-home sales including single-family, townhomes, condominiums and co-ops jumped 9.4 percent to a seasonally adjusted annual rate (SAAR) of 5.57 million […]

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San Jose Weekly Mortgage Market Commentary 9/27/2009

The week that was: FNMA 4.5% coupon went up 53 bps for the week, improving mortgage rates. August durable goods orders fell 2.4%, largest decline for this series since January. Existing home sales dropped 2.7% in August on a seasonally-adjusted basisĀ the first decline in five months; but the University of Michigan final index of […]

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