Home price appreciation is slowing across many top metros in the nation. In fact, according to the S&P Case-Shiller Price Index, the drop to 4.8 from 5.5 is the first month-over-month decrease since November 2013.This drop in appreciation isn’t just across the U.S... it’s also affecting many areas of Southern California. From September to … [Read more...]
The Departure Of Bill Gross From Pimco Has Contributed To The Falling Of US Mortgage Rates
The Departure Of Bill Gross From Pimco Has Contributed To The Falling Of US Mortgage Rates While the concerning worldwide news of European and Asian economic unrest have been causing mortgage rates to drop to low levels, the departure of Bill Gross from Pimco may have further accelerated the falling trend of rates that can be seen across the … [Read more...]
Looking Ahead: 5% in 2015?
With mortgage rates hovering right at 4% for the sixth consecutive week, homebuyers might start to feel they are invincible from rate increases. However, don’t get too comfortable just yet. Because according to the National Association of Realtors Chief Economist Lawrence Yun, mortgage rates will rise to 5% in 2015...and 6% in 2016. While that … [Read more...]
The New Normal?
When markets are normal, builders build. And that’s exactly what’s been going on lately. According to the California Building Industry Association, new housing starts are up year-to-date with 61,361 new single- and multi-family units. This uptick in building starts signifies a stabilized housing market. But is this as good as it gets? Is this the … [Read more...]
What’s Behind Declining Affordability in the Golden State?
Even though Orange County residents experienced low home price appreciation from August to September—with a -0.5% drop, affordability is still impacting Southern California. Some of the reasons behind this decrease in purchase power are: more-sluggish-than-anticipated economic growth, incomes that haven’t kept up with the cost of living, and lack … [Read more...]
Mortgage Rates Fallen To Their Lowest Level Since June 2013
Anyone who is paying attention to the United States financial market has surely noticed that a new low in mortgage rates has just recently been reached. It has been a full 16 months since rates this low have been reached on the average 30-year fixed-rate mortgage market. This is largely the result of concerns about the global economy sending … [Read more...]