The Case-Shiller 20 City Index for October increased 5.5% year-over-year in October, just beating the consensus forecast for 5.4% Growth. The index also climbed 5.1% year=over-year for September. The Los Angeles index climbed 6.15% year-over-year, beating the 20 city levels. Annualized Los ... » Learn More about New Case Shiller 20 City vs Los Angeles Index Data
housing affordability
California Real Estate Market at a Glance
The California real estate market stayed stable through October. The quantity of sales, and the median home prices dropped slightly, but that's not untypical for this time of year. The mortgage rates went up slightly over the past few weeks, and may effect the affordability index next month. If you ... » Learn More about California Real Estate Market at a Glance
Congress Passes Mortgage Act to Make it Easier to Get a Mortgage, But Don’t Count On It
By a vote of 255-174, the House approved the “Portfolio Lending and Mortgage Access Act,” which would broaden the definition of qualified mortgages – those that qualify for the safe harbor – to include all mortgages held on a lender's balance sheet. The new QM rule would recognize all residential ... » Learn More about Congress Passes Mortgage Act to Make it Easier to Get a Mortgage, But Don’t Count On It
No Rate Hike… How Confused is the Fed? Very
The Federal Reserve didn't implement a rate change last week because "international economic weakness, and inflation coming in below target". That doesn't mean there was a consensus among the Fed membership. In fact there is a broad disparity between the members on when the rates will change, and by ... » Learn More about No Rate Hike… How Confused is the Fed? Very
California Housing Affordability by County
As California property values continue to appreciate, the affordability level drops. Just wait until the interest rates go up... This is only one element of the housing affordability issues many regions in California are realizing. It's a matter of supply and demand. There aren't enough new units ... » Learn More about California Housing Affordability by County