Articles Filed Under: Real Estate Economics

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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 »

Benchmark Mortgage Rate Drops to Three-Year Low

Benchmark Mortgage Rate Drops to Three-Year Low

The average rate for a benchmark 30-year mortgage has dropped to 3.57 percent, the lowest rate in three years and 40 basis points below the 3.97 percent rate in place prior to the Fed’s first rate hike in December. The current rate is 28 basis points below the 3.85... Read More »

San Francisco and East Bay Employment Slip

San Francisco and East Bay Employment Slip

While the unemployment rate in San Francisco has now held at 3.3 percent for four months in a row, the number of people living in the city with a job slipped by 300 in March to 535,200. And while it’s a nominal change, it’s the first March without a... Read More »

San Francisco Housing Market Deemed Overheated by Redfin

San Francisco Housing Market Deemed Overheated by Redfin

With listed sales of San Francisco homes having “plunged” 23 percent on a year-over-year basis in March and inventory climbing, a trend which shouldn’t catch any plugged-in readers by surprise, Redfin has just deemed the San Francisco housing market as “Overheated.” Across the greater Bay Area, listed home sales... Read More »

Benchmark Mortgage Rate Drops to One-Year Low

Benchmark Mortgage Rate Drops to One-Year Low

The average rate for a benchmark 30-year loan has dropped to 3.59 percent, down 12 basis points over the past week to the lowest rate in over a year and 38 basis points below the 3.97 percent rate in place prior to the Fed’s first rate hike in December.... Read More »