Articles Filed Under: Real Estate Economics

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Bay Area Unemployment Rates Jump, Here’s Why

Bay Area Unemployment Rates Jump, Here’s Why

While the unemployment rate in San Francisco jumped from 2.9 percent in May to 3.5 percent in June, there are actually 400 more people living in the city with a job. But with school year seasonally in play, the labor force increased by 4,000 and drove the unemployment rate... Read More »

Benchmark Mortgage Rate Ticks Up

Benchmark Mortgage Rate Ticks Up

Having dipped to within 10 basis points of an all-time low, the average rate for a benchmark 30-year mortgage ticked up 4 basis points to 3.45 percent over the past two weeks but remains 59 basis points below the 4.04 percent average rate in place at the same time... Read More »

Benchmark Mortgage Rate Approaching an All-Time Low

Benchmark Mortgage Rate Approaching an All-Time Low

The average rate for a benchmark 30-year mortgage has dropped to 3.41 percent over the past week, the lowest rate in over three years and within 10 basis points of the all-time low rate of 3.31 percent recorded in November 2012. The current average rate is now 63 basis... Read More »

Benchmark Mortgage Rate Nearing an All-Time Low

Benchmark Mortgage Rate Nearing an All-Time Low

With the unexpected result of the Brexit vote roiling the financial markets, resulting in a flight to quality and driving the yield on the 10-year Treasury down, the average rate for a benchmark 30-year mortgage has dropped to 3.48 percent, the lowest rate in over three years and within... Read More »

Employment in San Francisco Drops Along with its Labor Force

Employment in San Francisco Drops Along with its Labor Force

While the unemployment rate in San Francisco dropped to 2.9 percent last month, the lowest unemployment rate since the dot-com boom when it hit 2.4 percent, the drop from 3.1 percent in April was driven by a reduction in the labor force (-2,700) and employment in the city actually... Read More »

Over 100,000 More Employed in Alameda County Since 2010

Over 100,000 More Employed in Alameda County Since 2010

For the first time since early 2001, the unemployment rate in the East Bay has dropped below 4 percent, dropping from 4.1 percent in April to 3.9 percent in May as the number of employed residents ticked up by 2,400 to 1,372,600. Alameda County, which includes Oakland, accounted for... Read More »

Benchmark Mortgage Rate Is Back to a Three-Year Low

Benchmark Mortgage Rate Is Back to a Three-Year Low

The average rate for a benchmark 30-year mortgage has dropped to 3.54 percent, the lowest rate in three years and 43 basis points below the 3.97 percent rate in place prior to the Fed’s first rate hike in December. The current rate is 46 basis points below the 4.00... Read More »

Mortgage Rates Dip on Pessimistic News, Probability of a Hike Drops

Mortgage Rates Dip on Pessimistic News, Probability of a Hike Drops

Having ticked up to 3.66 percent last week, the average rate for a benchmark 30-year mortgage has dropped to 3.60 percent and is back within 3 basis points of last month’s three-year low, spurred by a weaker than expected employment report. The current 30-year rate is 37 basis points... Read More »

Mortgage Rates Tick up but Remain near Three-Year Lows

Mortgage Rates Tick up but Remain near Three-Year Lows

Having dropped to a three-year low of 3.57 percent, the average rate for a benchmark 30-year mortgage has ticked up 7 basis points to 3.64 percent over the past two weeks but remains 33 basis points below the 3.97 percent rate in place prior to the Fed’s first rate... Read More »

Employment in San Francisco Stalls, Slips in the East Bay

Employment in San Francisco Stalls, Slips in the East Bay

While the unemployment rate in San Francisco has dropped to 3.1 percent, the lowest unemployment rate since the end of the dot-com boom, the drop from 3.3 percent in March was driven by 900 people leaving the labor force versus the 100 jobs that were added. In fact, the... Read More »