Friday, August 6, 2010

Mid-Summer Update

Mortgage rates hit a new record low: 4.56 percent for 30-year fixed loans
Mortgage rates fell to a new record low for the fourth time in five weeks. But low rates haven't been enough to lift a struggling housing market. The average rate for 30-year fixed loans this week was

Biggest Defaulters on Mortgages Are the Rich

LOS ALTOS, Calif. — No need for tears, but the well-off are losing their master suites and saying goodbye to their wine cellars. The housing bust that began among the working class in remote subdivisions and quickly progressed to

Where Did The Buyers Go?We need look no further than the temporary nature of recent buying in residential housing to understand why that buying has dried up. The reason buyers have become scarce in housing is simple: the three pools of buyers which drove recent sales are drying

Market RecapThe chart below shows that cities east of highway 880 are still showing a higher demand than supply. Home prices have risen in these areas as much as 10% in 6 months.

For Comparison: Sales are slowing down on the West side of Highway 880. This could be an indicator of stabilization or prices falling again.
Santa Clara County Market Snapshot

 The table represents aggregated values based on MLS data for the specified date.

* Mortgage rates were collected from publicly available sources ( on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational