Articles Filed Under: Real Estate Economics

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Average 30-Year Mortgage Rate Drops Back Below 4 Percent

Average 30-Year Mortgage Rate Drops Back Below 4 Percent

Having ticked up to 4.09 percent two weeks ago, the highest rate so far this year, the average rate for a 30-year mortgage has dropped to 3.98 percent, versus 4.12 percent at the same time last year, according to Freddie Mac’s latest Primary Mortgage Market Survey. The 30-year rate,... Read More »

17,000 Square Feet Of Space And Parking For 40 Cars In Los Altos Hills

17,000 Square Feet Of Space And Parking For 40 Cars In Los Altos Hills

Built for C. Earl Dawson in 1939 on what was then a 130-acre assemblage of land purchased from the University of California in 1936, the 17,000-square-foot Rancho San Antonio estate now occupies a 5.6-acre parcel at 11627 Dawson Drive in Los Altos Hills. Purchased for $6 million in 1997,... Read More »

San Francisco Employment Slips, East Bay Gains

San Francisco Employment Slips, East Bay Gains

The number of people living in San Francisco with a job slipped from an upwardly revised record 526,500 in May to 526,100 in June but remains 19,300 higher on a year-over year basis. At the same time, East Bay employment increased by 2,200 to a record 1,303,000, up 28,000... Read More »

Affordable Housing Bond Report And Average Rent-Control Tenancy

Affordable Housing Bond Report And Average Rent-Control Tenancy

An interesting factoid with respect to rent control tenants in San Francisco from the City’s Economic Impact Report for the proposed $310 million General Obligation bond to support Affordable Housing in San Francisco which will appear on this November’s ballot: The average tenancy for a rent-controlled apartment in San... Read More »

China’s Stock Market Is Tanking, Will It Weigh On Local Real Estate?

China’s benchmark stock index, the Shanghai Composite, fell 5.9 percent yesterday and has tumbled 30 percent over the past three weeks.  The ChiNext index of small-cap stocks has plummeted over 40 percent. If you happen to be developer in San Francisco with a significant number of Chinese buyers who... Read More »

From Red Hot To ‘In The Red’ For Bay Area Housing Next Year?

From Red Hot To ‘In The Red’ For Bay Area Housing Next Year?

Bearish calls for the Bay Area housing market have been ticking up over the past three months with one of the latest coming from Clear Capital, a national provider of real estate valuations, data and analytics for brokers, lenders and appraisers: “Both San Francisco and San Jose have been... Read More »

San Francisco Employment Continues Its Record Run

San Francisco Employment Continues Its Record Run

The number of people living in San Francisco with a job reached a record 525,600 in May, an increase of 1,700 as compared to the month before and 19,900 more employed than at the same time last year. There are now 60,100 more people living in San Francisco with... Read More »

Fed Expected To Raise Interest Rates By The End Of The Year

With employment on the rise and an uptick in economic activity, the Fed appears to be on track for a half-point increase in interest rates by the end of the year with expectations of another full point being added in 2016. The increases should continue to drive mortgage rates, which... Read More »

Group Housing ‘Loopholes’ Could Soon Be Closed

Many of the recently proposed Group Housing developments in San Francisco, with shared kitchens and living areas, have been positioned as creative solutions to maximize density and minimize rents in response to the City’s current housing crisis. But with the addition of “kitchenettes,” which aren’t technically kitchens, a number... Read More »

30-Year Mortgage Rate Over 4 Percent For First Time In 2015

30-Year Mortgage Rate Over 4 Percent For First Time In 2015

As we expected last week with the underlying basis on the move, the average rate for a 30-year mortgage has continued to climb, crossing the four percent mark for the first time since November 2014 and hitting a new high for 2015. The average rate for a 30-year fixed-rate... Read More »

Basis For 30-Year Mortgage Rate On The Move (Up)

Since hitting a 2015 high of 3.87 percent last week, the average rate for a 30-year fixed mortgage has been relatively unchanged.  But the 10-year Treasury yield, the basis for the 30-year mortgage rate, jumped around 10 basis points (0.10) this morning on strong jobs data. And while the... Read More »

Mortgage Rate Hits 2015 High

Mortgage Rate Hits 2015 High

The average rate for a conforming 30-year mortgage has ticked up to 3.87 percent, the highest average rate in 2015 and 28 basis points above the near two-year low rate of 3.59 percent recorded this past February. That being said, the rate remains 25 basis points below the 4.12... Read More »

Employment In S.F. Continues To Climb

Employment In S.F. Continues To Climb

The number of people living in San Francisco with a job continues to climb and hit a new all-time high of 524,100 in April, an increase of 2,000 from the month before. There are currently 20,300 more people living in the city with paychecks than at the same time... Read More »

Mortgage Rates On The Move

Mortgage Rates On The Move

The average rate for a conforming 30-year mortgage increased 12 basis points over the past week to 3.80 percent, up 21 basis point from a 3.59 percent 21-month low in February but 41 basis points below the 4.21 percent average rate at the same time last year. The 30-year... Read More »

The Rare Exception Or Foreshadowing Of Things To Come?

The Rare Exception Or Foreshadowing Of Things To Come?

Purchased for $1.3 million in 2013 and extensively remodeled since, the buyer of the Potrero Hill home at 837 Wisconsin Street appears to be around $200K past due on his accumulated loans and the property is scheduled to hit the courthouse steps this afternoon with $2.2 million in debt... Read More »