Articles Filed Under: Real Estate Economics

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San Francisco and East Bay Employment Slip, Santa Clara Gains

San Francisco and East Bay Employment Slip, Santa Clara Gains

While seasonal hiring typically ticks employment up at the end of the year, the number of people living in San Francisco with a job slipped by 500 in December to 556,900 while the unemployment rate held at a record low of 2.3 percent as the size of the labor... Read More »

Benchmark Mortgage Rate Back above 4%

Benchmark Mortgage Rate Back above 4%

The average rate for a benchmark 30-year mortgage inched up 5 basis points over the past week to 4.04 percent, which is 5 basis points below the 4.09 percent rate in place at the same time last year but the highest rate in eight months and 26 basis points above... Read More »

Benchmark Mortgage Rate Hovering Around 4%

Benchmark Mortgage Rate Hovering Around 4%

Having moved in a narrow four basis point range since the end of 2017, the average rate for a benchmark 30-year mortgage is back to 3.99 percent, which is the highest average rate since the first quarter of 2017 and 21 basis points above last year’s low of 3.78... Read More »

Benchmark Mortgage Rate Inching Up, Ending 2017 Around 4%

Benchmark Mortgage Rate Inching Up, Ending 2017 Around 4%

As expected, the average rate for the benchmark 30-year mortgage inched up 5 basis points over the past week to 3.99 percent, which is the highest rate in five months and versus 2017’s low of 3.78 percent but still 33 basis points below the 4.32 percent rate in place... Read More »

San Francisco Population Hits 880,000; Bay Area Over 7.7 Million

The estimated population of San Francisco proper has crossed the 880K mark, hitting 880,418 on the first of July, according to data from California’s Department of Finance. That’s an increase of 7,955 or 0.91 percent since July 1, 2016, matching the population growth rate over the previous year which... Read More »

Little Movement in the Benchmark Mortgage Rate

Little Movement in the Benchmark Mortgage Rate

With the downstream impact of the Federal Reserve’s rate hike last week already priced in, the average rate for the benchmark 30-year mortgage was 3.94 percent as of yesterday and effectively unchanged over the past two weeks. As such, the average 30-year rate is now 36 basis points below... Read More »

The Fed Institutes a Rate Hike, Signals Three More in 2018

As predicted, the Federal Reserve has just raised its benchmark Federal Funds rate, upping its target range by another 0.25 percent (25 basis points) and signaling expectations for three more quarter-point increases in 2018. The Fed dropped the benchmark rate five (5) percentage points between August of 2007 and... Read More »

Apples-To-Apples for a Central SoMa Penthouse Condo, Take Two

Apples-To-Apples for a Central SoMa Penthouse Condo, Take Two

As we wrote a year ago last month: “Speaking of list price reductions in San Francisco, the asking price for the “rarely available” corner one-bedroom unit #802 on a penthouse level of the Palms at 555 4th Street, a level which is outfitted with gas stoves and Sub-Zero refrigerators,... Read More »

Benchmark Mortgage Rate Holding Under 4 Percent

Benchmark Mortgage Rate Holding Under 4 Percent

The average rate for a benchmark 30-year mortgage has held relatively firm over the past three weeks, slipping a single (1) basis points in the aggregate to 3.94 percent, which is 19 basis points below the 4.13 percent rate in place at the same time last year but 53... Read More »

Housing Pipeline Holds as Construction Rises in San Francisco

Housing Pipeline Holds as Construction Rises in San Francisco

With new proposals having been submitted to the City for roughly the same number of residential units that finished construction in the second quarter of the year, the overall pipeline of apartments and condos under development in San Francisco is holding around 63,500 having peaked at 63,700 in the... Read More »