Rodeo Realty Brentwood Agent Hamid Khorram

Economic week end update, February 14, 2014 This week the stock market saw another week of positive territory with strong gains seen in all three indices as investors took into account bad weather as an excuse for some soft economic data. While U.S. export prices rose 0.2% in January, the third straight monthly increase, factory production fell 0.8% in January, the biggest drop in more than 4-1/2 years. The Dow closed out the week at 16,154.39 up 2.28% from last week’s clos...Continue reading

Economic update for the week ending February 7, 2014 Interest rates have dropped over the last couple of weeks. The Freddie Mac Weekly Primary Mortgage Market Survey showed that the 30-year-fixed rate dropped to 4.23% from 4.32% last week. The 15-year-fixed fell to 3.33% from last week’s 3.40%. A year ago the 30-year fixed was at 3.53% and the 15-year was at 2.77%. Obviously, most loans needed in our markets are over the conforming limit ($417,000). Those rates are about 1/2...Continue reading

January 31, 2013 Economic Update January saw some corrections in the stock market with the S&P 500 and the Dow posting their biggest monthly percentage decline since May 2012. This was the first January since 2010 with a decline. The Dow closed out the month at 15,698.85 down -5.3% from last month’s close of 16,576.60 and down -1.14% from last week’s close of 15,879.11....Continue reading

December 6, 2013 economic update. Today the November jobs report was released. It showed 203, 000 non farm jobs added. This numbet was well over expectations. The stock markert posted large gains and, unfortunately, interest rates rose. The unemployment rate droped from 7.3% to 7%. The lowest rate in over 5 years! This week showed more indications that the economy is strengthening. The Bureau of Economic Analysis released data showing that the third quarter GDP growth is at...Continue reading

Economic update November 15, 2013 Stocks hit record highs again this week. Numbers were boosted this week by remarks made by new Fed chief Janet Yellen at her Senate confirmation hearing in which she stated she believes it is too soon to end the Fed’s stimulus program. This makes six straight weeks of rising Dow and S&P numbers with both seeing record closing numbers again this week. The Dow ended the week at 15,961.71 up 1.98% from last week’s 15,761.78 close. The Nasdaq was...Continue reading

Economic update November 8, 2013 Interest rates and stocks rose this week on better than expected economic news. The following reports came out this week: Unemployment: Defying expectations of a weak labor market in the face of the government shutdown, the economy added 204,000 jobs in October. The forecast from experts called for 120, 000! Data from the Labor Department showed strong hiring in retail, hospitality, manufacturing, and health care. The unemployment rate is now ...Continue reading

Economic update 10/6/2013 We are four days into the government shutdown and Congress now has less than two weeks to raise the debt ceiling before the U.S. is unable to borrow money to pay its bills, a move that could lead to a historic default. Most industry analysts still believe this will not occur. Frankly, I am surprised that the stock markets and the economy has held up so will this week. You would think that with such dysfunction in our government and 750,000 government... workers furloughed the markets would react more negatively. I fear that if they can not agree to increase the debt limit, which will lead to the first default in U.S. history, the negative impact will be much more severe! I really do not think a default will happen. Due to the turmoil of the government shutdown stocks continued to act uncertainly. The Dow rose on Friday but had its second down week in a row closing at 15,072.58 down -1.22% from last week’s 15,358.24 close. The Nasdaq eked out another modest gain, closing at 3,807.75, a gain of .69% off last week’s 3,781.59 close, for its fifth straight week of positive numbers. The S&P 500 was down very slightly, closing the week at 1,690.50 just a hair below last week’s 1,691.75 close. The yield rate for the 10-year Treasury note was at 2.66% nearly on par with last week’s 2.64% finish. ADP reported that businesses added 166,000 jobs in September below the 180,000 number expected by economists. The payroll processor also adjusted its previously reported August figure downward from 176,000 to 159,000. The Labor department did not release its jobs numbers due to the government shutdown. Those numbers are really the numbers that experts look at. The government shutdown appears to be having an impact on interest rates. Rates were down again this week according to the Freddie Mac Weekly Primary Mortgage Market Survey. The 30-year fixed rate dropped down to 4.22% down from 4.32% last week. The 15-year rate also fell to 3.29% from 3.37%. These are the lowest averages seen since late June. A year ago this week according to the survey, the 30-year rate was at 3.36% while the 15-year rate was at 2.69%. Jumbo and high balance conforming are running around 4.625% for 30 year fixed and 3.75% for 15 year terms. For some reason it seems like open escrows have picked up in the last couple weeks. I would not have expected this. Have a great weekend! Syd

Interest rates were down sharply again this week marking a drop of almost 1/2% in the last two weeks! This drop is due to fear that the economy may suffer due to Congress' inability to both pass a resolution to fund the government, and increase the debt limit. The two are different. We are just over a week away from expiration of the last resolution to fund the government. Failing to extend funding would result in a shutdown of the government. This happened twice during the C...Continue reading

Weekly financial update August 24, 2013 Interest rates rose further this week after the minutes of The Federal Reserve's July meeting were released. In the minutes the Fed, which has discussed drawing down their Treasury Bond and mortgage securities purchases, suggested that they would begin tapering down those purchases in September. The Federal Reserve has been purchasing $85 billion per month of Treasury Bonds and mortgage securities. This program known as QE3 (quantitati...Continue reading

Culver City Real Estate Market Report