Market Observations for the week of November 8th, 2010
Market Observations for the week of November 8th, 2010, as you know I do not often comment on this subject, since there is a great deal of daily volatility in the Stock Market and consequently in the mortgage rates as well.
Last Wednesday, the Fed announced that, to help boost the economy, it will purchase an additional $600 billion in Treasury securities by the end of the second quarter of 2011. The expectation is to purchase about $75 billion per month to reach its goal.
The good news is this will help Real Estate sales, since the Dollar will remain weak and foreign buyers will continue to see US Real Estate as a great opportunity. There will be a lot more Luxury home buyers from Europe, Asia as well as North America, i.e.: Canada. In addition the added demand for Treasury securities generally will benefit other bonds as well, including mortgage-backed securities; hence this will help lower mortgage rates over the next few months. Helping first time buyers to move off the proverbial fence.
If you are interested in getting an Estimate of Value of your home or you are wondering if this is a good time to buy, please contact me directly.
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.
