Keep informed and up-to-date on the San Leandro real estate market. Smart home buying in San Leandro means knowing about San Leandro home sales and San Leandro new listings when they happen. As California Licensed Real Estate Agents practicing in San Leandro, Wayne Gregori and Jill Gregori are Broker/Owners of The GregoriGroup, a group of Realtors ® representing clients in buying and selling San Leandro homes, including homes in Estudillo Estates, Broadmoore and Bay-O-Vista.
Last Week in Review Last week brought some positive economic news. Americans filing weekly Initial Jobless Claims fell to 323,000. This was below expectations and the lowest level since January 2008. In addition, the four week moving average (which evens out any seasonal abnormalities) fell to 336,000, the lowest since November 2007.
In housing news, research firm CoreLogic reported that home prices rose 10.5 percent in March 2013 from March 2012. This was the biggest annual increase since March 2006 and the 13th consecutive increase in home prices. There was also a 1.9 percent gain from February to March and prices increased in all states except four. However, home prices remain 25 percent lower than the peak of April 2006.
What does this mean for home loan rates? Because good economic news often causes money to flow out of safer investments like bonds and into stocks, it can negatively impact home loan rates, as they are tied to mortgage bonds.
However, although home loan rates may have slightly risen, they continue to remain near historic lows.