Rates Trending Up As Expected

Dated: June 19 2013

Views: 2258

With the housing recovery in full swing and many other economic indicators pointing in the right direction, it should be no surprise that rates are trending up. The Fed's hint about easing its future purchases of mortgage backed bonds sent rates towards 4%. However, we don't expect this to derail the recovery. Homes are still in recovery mode and priced relatively low, employment is picking up, wages are picking up and family creation continues.

All of these factors drive the housing market. It is expected that rates should continue to hover near 4% throughout 2013. That should provide some confidence for home buyers to continue their pursuit of homeownership. The bay area real estate activity is proof of this confidence. Pending sales in the following cities shows extreme confidence in the entire East Bay: Pleasant Hill, Alamo, San Ramon, Danville, Dublin, Livermore & Lafayette.  Total pending sales: 450+ as of 6/19/2013 - 
For more information on your city or to view active listings by zip code, please go to www.LiveMLSaccess.com

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