Articles Filed Under: Real Estate Economics

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Benchmark Mortgage Rate Drops Below 4 Percent

Benchmark Mortgage Rate Drops Below 4 Percent

The average rate for a benchmark 30-year mortgage has dropped below 4 percent for the first time since November, shedding 11 basis points over the past week and 33 basis points since the the Fed’s second rate hike last month. At the same time, the current 30-year average rate... Read More »

Externalizing Parking to Double Density as Proposed

Externalizing Parking to Double Density as Proposed

Purchased as a six-unit apartment building with eight bedrooms and a six-car garage for $1.452 million in the first quarter of 2013, plans to add eight new apartments, with nine new bedrooms, at 4640 Balboa Street have been drafted and neighbors need not be worried about losing a view.... Read More »

Benchmark Mortgage Rate Drops to Its Lowest Mark This Year

Benchmark Mortgage Rate Drops to Its Lowest Mark This Year

Having hit 4.30 percent four weeks ago with the probability of the Fed’s second rate hike already priced-in, the average rate for a benchmark 30-year mortgage has since dropped to 4.08 percent, shedding 6 basis points over the past two weeks to mark its lowest rate this year. At... Read More »

Rents Tick Up in San Francisco, Drop in Oakland

Recent reports of a sharp drop in apartment rents in both San Francisco and Oakland shouldn’t catch any plugged-in readers by surprise, as it’s a trend we first noticed forming last year. And as we first reported a couple of months ago, asking rents in the two cities had... Read More »

Inventory of Homes for Sale in S.F. Nearing a Six-Year High

Inventory of Homes for Sale in S.F. Nearing a Six-Year High

Having ticked up another 6 percent over the past four weeks, the number of single-family homes and condos currently listed for sale in San Francisco now totals 615, the highest total at the beginning of April since 2012, at which point there were 658, and 10 percent higher versus... Read More »

Benchmark Mortgage Rate Drops to 4.14%

Benchmark Mortgage Rate Drops to 4.14%

Having ticked up to 4.30 percent two weeks ago with the probability of the Fed’s second rate hike already priced-in, the average rate for a benchmark 30-year mortgage has since dropped 16 basis points to 4.14 percent. That’s still 43 basis points above the 3.71 percent average rate in... Read More »

Bay Area Home Values Slip While National Index Gains

Bay Area Home Values Slip While National Index Gains

Having inched up at the end of last year, the S&P CoreLogic Case-Shiller Index for single-family home values within the San Francisco Metropolitan Area – which includes the East Bay, North Bay and Peninsula – slipped 0.4 percent in January while the national index ticked up 0.2 percent for... Read More »

San Francisco Home Sales Drop to a Five-Year Low

San Francisco Home Sales Drop to a Five-Year Low

The number of single-family homes and condos that traded hands in San Francisco dropped to a five-year low of 308 in February. That’s down 4 percent from a downwardly revised 322 sales in January (versus a typical 12 percent seasonal bump). And on a year-over-year basis, home sales in... Read More »

A Mixed Employment Report for SF and around the Bay

A Mixed Employment Report for SF and around the Bay

Having dropped the most in nearly a decade at the beginning of the year, the number of people living in San Francisco with a job ticked up by 1,400 last month to 543,200 but remains 4,000 below its peak at the end of 2016. At the same time, there... Read More »

Mortgage Rates Near a Three-Year High

Mortgage Rates Near a Three-Year High

Measured prior to the Fed’s rate hike yesterday but with the probability already priced in, the average rate for a benchmark 30-year mortgage ticked up another 9 basis points over the past week to 4.30 percent, nearing the 4.32 percent rate in place at the end of last year,... Read More »