There’s been a lot of chatter since yesterday afternoon about treasury rates, mortgage rates, the yield curve, and so forth—and for good reason. Here’s a good write-up from Mish’s Global Economic Trend Analysis on what’s going on: Mortgage Market Locks Up Yesterday 10 year treasury yields went soaring and the mortgage market literally seized up….
News Roundup: Time to Rent, Tax Credits, Indices…
Here are a few relevant news stories that have popped into my inbox in the last few days: Money Magazine: When it makes sense to rent (Seattle is #1—woo!) Seattle P-I: Tax credit down-payment plan waiting for IRS Seattle P-I: Dueling indexes: How much are Seattle-area house values down? USA Today: Condo market fights to…
Case-Shiller Tiers: Low Tier Passes 25% Off Peak
Let’s check out the three price tiers for the Seattle area, as measured by Case-Shiller. Remember, Case-Shiller’s “Seattle” data is based on single-family home repeat sales in King, Pierce, and Snohomish counties. Note that the tiers are determined by sale volume. In other words, 1/3 of all sales fall into each tier. For more details…
Case-Shiller: Seattle Price Drops Keep Gaining Steam
Let’s make our regularly scheduled monthly check on the Case-Shiller Home Price Index. According to March data, Down 2.0% February to March. Down 16.4% YOY. Down 22.5% from the July 2007 peak Last year prices fell 0.9% from February to March and year-over-year prices were down 4.4%. Here’s the usual graph, with L.A. & San…
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