The California Buyer Purchasing Power Index (BPPI) figure was +10.5 in June 2020. This positive figure tells us a homebuyer with the same income is able to borrow 10.5% more today than a year ago. The BPPI figure has remained positive throughout 2019-2020 as a result of ...

The average 30-year fixed rate mortgage (FRM) rate descended to another record low in the week ending July 17, 2020, now at 2.98%.The 15-year FRM rate also decreased to 2.48%. FRM rates have descended to historic lows due to efforts to stimulate lending during today’s unstable economic ...

National Market Update

The National Association of Realtors Pending Home Sales index of contracts signed on existing homes surged 44.3% in May, its biggest gain since 2001. All regions were up, though the overall index is still down a smidge annually.

The NAR chief economist: “The outlook has significantly ...

For home sales contingent on financing, the appraisal has the potential to derail the entire sale — or validate the price, cinching mortgage approval.

When an appraisal comes in below the price the buyer and seller agree to, this is known as a low appraisal. The mortgage lender will not ...

The Mortgage Bankers Association pegged purchase applications up for the eighth straight week, coming in 13% higher than a year ago, noting “the recovery in the purchase market continues to gain steam.”

On a deep dive since March, Fannie Mae’s Home Purchase Sentiment Index finally turned higher ...

As job losses pile on and home sales slow, it’s becoming clear that California real estate professionals have a front row seat to the 2020 recession.

31% fewer home sales occurred in April 2020 compared to the same month a year earlier, translating to a significant drop of 12,000 ...

NATIONAL MARKET UPDATE

The housing market nationally is picking up. Zillow reports new listings grew 5.9% week-over-week, with the hard hit highest price tier up 8%. New listings are still down annually, but have gained now three weeks in a row.

Also growing smaller are the year-over-year declines ...

NATIONAL MARKET UPDATE

March Housing Starts fell 22.3%, their biggest monthly drop since 1984, as builders cut activities, uncertain about buyer demand, supply chains, and social distancing with work crews. Here's more on COVID-19's effect on the report.

Yet the year began so well, starts are still ...

NATIONAL MARKET UPDATE

Mortgage rates are now near historical lows. Freddie Mac's latest Primary Mortgage Market Survey reports the national 30-year fixed mortgage rate is almost a full percentage point lower than a year ago.

In spite of the slowdown, deals are getting done thanks to technology. 34 ...

NATIONAL MARKET UPDATE