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Thursday, July 30, 2020   /   by Steve Mohseni

Homeownership Rate Continues to Rise in 2020

Homeownership Rate Continues to Rise in 2020





So far, it’s been quite a ride this year, and our nation has truly seen its fair share of hurdles. From COVID-19 to record unemployment and then the resulting recession, just to name a few, the second quarter of 2020 has had more than a few challenges. Amidst the many roadblocks, however, the U.S. homeownership rate rose again, signaling great strength in the recovery of the housing market and an indication that even in a time of crisis, Americans still feel confident about buying a home.


Yesterday, the U.S. Census Bureau announced:




“The homeownership rate of 67.9 percent was 3.8 percentage points higher than the rate in the second quarter 2019 (64.1 percent) and 2.6 percentage points higher than the rate in the first quarter 2020 (65.3 percent).”



The increase is also represented by race and ethnicity of the householder:There are many reasons why the homeownership rate in this count ...

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  alameda county, bay area, buyers, house, moving up.

Wednesday, July 29, 2020   /   by Steve Mohseni

Thinking of Selling Your House? Now May be the Right Time!!

Thinking of Selling Your House? Now May be the Right Time





Inventory is arguably the biggest challenge for buyers in today’s housing market. There are simply more buyers actively looking for homes to purchase than there are sellers selling them, so the scale is tipped in favor of the sellers.


According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), total housing inventory is down 18.8% from one year ago. Inventory is well below what was available last year, and the houses that do come to the market are selling very quickly.


Sam Khater, Chief Economist at Freddie Mac notes:




“Simply put, new housing supply is not keeping up with rising demand. We estimate that the housing market is undersupplied by 3.3 million units, and the shortage is rising by about 300,000 units a year. More than half of all states have a housing shortage.”



Why is inventory so low? ...

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  alameda county, bay area, buyers, house, pleasanton

Friday, May 29, 2020   /   by Steve Mohseni

Mortgage Rates Hit Another All-Time Low

Mortgage Rates Hit Another All-Time Low


May 28, 2020


The 30-year fixed-rate mortgage has again hit the lowest level in our survey’s nearly 50-year history, breaking the record for the third time in just the last few months. These unprecedented rates have certainly made an impact as purchase demand rebounded from a 35 percent year-over-year decline in mid-April to an 8 percent increase as of last week—a remarkable turnaround given the sharp contraction in economic activity. Additionally, refinance activity remains elevated and low mortgage rates have been accompanied by a $70,000 decline in the average loan size of refinance borrowers this year. This means a broader base of borrowers are taking advantage of the record low rate environment, which will benefit the economy.





Current Mortgage Rates Data Since 1971 xls










Primary Mortgage Market Survey®


U.S. weekly averages as of 05/28/2020






30-Yr FRM




3. ...

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  alameda county, bay area, buyers, house, moving up., down payment, mortgage

Thursday, May 28, 2020   /   by Steve Mohseni

Economists Forecast Recovery to Begin in the Second Half of 2020

Economists Forecast Recovery to Begin in the Second Half of 2020





With the U.S. economy on everyone’s minds right now, questions about the country’s financial outlook continue to come up daily. The one that seems to keep rising to the top is: when will the economy begin to recover? While no one knows exactly how a rebound will play out, expert economists around the country are becoming more aligned on when the recovery will begin.


According to the latest Wall Street Journal Economic Forecasting Survey, which polls more than 60 economists on a monthly basis, 85.3% believe a recovery will begin in the second half of 2020 (see graph below):There seems to be a growing consensus among these experts that the second half of this year will be the start of a turnaround in this country.


Chris Hyzy, Chief Investment Officer for Merrill notes:




“We fully expect the economy could begin to pick up in ...

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  alameda county, bay area, house, pleasanton, moving up.

Friday, May 1, 2020   /   by Steve Mohseni

Mortgage Rates Reach All-Time Low

MCLEAN, Va., April 30, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.23 percent, the lowest rate in our survey’s history which dates back to 1971.


“The size and depth of the secondary mortgage market is helping to keep rates at record lows. These low rates are driving higher refinance activity and have modestly helped improve purchase demand from their extremely low levels in mid-April,” said Sam Khater, Freddie Mac’s Chief Economist. “While many people are benefitting from low mortgage rates, it’s important to remember that not all people are able to take advantage of them given the current pandemic.”


News Facts





30-year fixed-rate mortgage averaged 3.23 percent with an average 0.7 point for the week ending April 30, 2020, down from last we ...

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Compass | Mohseni Real Estate Group
Steve Mohseni
15 Railroad Avenue
Danville, CA 94526
925-484-0707
CA DRE# 01267039

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