The Real Estate Report
Mortgage Rate Outlook
30-Year Fixed Mortgage Rates
The chart above shows the Nationalmonthly average for 30-year fixedrate mortgages as compiled byHSH.com. The average includes mort-gages of all sizes, including conforming,"expanded conforming," and jumbo.
Sep. 09, 2011
--Labor Day came and went this week,and the administration has turned an eye toward oneof the two most intractable problems facing the econ-omy: joblessness. The other problem is the poor state of the housing market, and there are somerumors that a new plan may be afoot, either from theadministration or perhaps in conjunction with other agencies, to promote a refinance plan for potentiallymillions of borrowers. The Federal Reserve isthought to be pondering a plan to foster economicgrowth. Meanwhile, the European debt crisis pressedinterest rates down to record lows.HSH.com's broad-market mortgage tracker -- our weekly Fixed-Rate Mortgage Indicator (FRMI) --found that the overall average rate for 30-year fixed-rate mortgages decreased by seven basis points(0.07%) from last week, moving to a new record-lowaverage of 4.42%. FHA-backed 30-year fixed-ratemortgages, especially important to first-time home-buyers and low-equity refinancers, have shed a fulltenth percentage point. closing the week at just4.06% Hybrid 5/1 ARMs might interest a few borrow-ers, with five-year fixed-rate periods slipping by an-other four basis points this week to average an ultra-low 3.13%.It goes without saying that conforming 30-year FRMsare sporting a new record low, too. The eight basispoint decline this week puts the average at 4.23%.There are few signs that the economy is building thekind of momentum needed to significantly lower un-employment, and time is running short on hopes of seeing aggregate GDP growth near 3% for the year.The third quarter comes to a close in just a fewweeks' time, and there has been little strength to talkabout, but only perhaps less-bad-than-feared figuresas growth stumbles along. Anyone looking for a quick fix for the economic woeswill need to keep looking. We are years into thismess at this point, and by some reckonings are inmuch better shape now, relative to both the depths of the mess and many other countries. That said, weare or have been in a near stasis for the recovery for 6-8 months, and the risk of faltering back into reces-sion is a real one at this moment. Low interest rates -- whether at new record lows or only near them -- arelikely to be with us for a long while yet as these diffi-cult troubles slowly sort themselves out or otherwisecome to resolution. Expect more of the same againnext week.
County,,,.%-.%-..%.%-.% Atherton4,515,000$ 4,422,000$ 573621697.3%61.5%29.6%-44.4-12.5%-29.4%Belmont,,.%-.%-.-..%-.%Burlingame,,,,.%.%.%.%-.%-.%Daly City450,000$ 491,781$ 43831188297.8%-16.2%-9.538.7%22.1%-11.9%El Granada,,.%.%.%-..%-.%East Palo Alto,,.%.%.%-..%-.%Foster City945,000$ 990,820$ 2012294497.6%5.6%7.0%53.8%-29.4%26.1%Hillsborough,,,,.%.%-.-.-.%-.%Half Moon Bay,,,.%.%.%.%-.%-.%Millbrae845,000$ 873,194$ 2217182599.0%-7.7%-3.383.3%-19.0%-53.8%Menlo Park,,,.%-.%-.-.%-.%-.%Montara--.%n/an/an/an/an/aMoss Beach587,500$ 545,833$ 3377097.5%-2.9%-9.850.0%-50.0%-61.1%Pacifica,,.%-.%-..%-.%.%Portola Valley,,,,.%-.%-..%.%-.%Redwood City808,888$ 883,724$ 41731259198.1%0.5%3.1%10.8%4.3%-22.4%Redwood Shores1,040,440$ 1,138,310$ 611105098.4%0.3%7.7%0.0%175.0%-41.2%San Bruno,,.%-.%.%-.%.%-.%San Carlos1,007,500$ 1,040,140$ 2631445199.2%11.4%5.6%0.0%29.2%-21.4%San Mateo689,000$ 746,282$ 591041095599.2%-5.6%-11.43.5%65.1%-30.6%S. San Francisco,,.%-.%-..%.%.%Woodside,,,,.%.%.%.%.%-.%
San Mateo County - August 2011
Single-Family Homes% Change from Year Before