East Bay Mortgage & Market Update for May 24th 2011
By Doug Anderson, Bay Area Real Estate Views
(Tucker Associates Real Estate Services)
East Bay Mortgage & Market Update for May 24th 2011 Economic News: The major portion of market news falls in the latter half of the week. This morning New Home Sales results for April were released. There was a lot to be happy about in the report as the annualized rate was estimated at 323,000. This handily beat the estimates and the underlying data showed a nice reduction in supply which could lead to firmer pricing in the near future. According to the Wall Street Journal “...only 175,000 new homes are up for sale for the lowest total in data that goes back to 1963!”. Mortgage Markets: Treasury and Mortgage Backed Securities are losing just a bit of ground today. The 10 Year Note is currently trading at 3.151%.This Week’s Reports: Tuesday: New Home Sales Wednesday: Durable Goods ...
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