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Tag: Market Update

The Coming Change

Written by jbobbett2 on .

Sharp rise in mortgage rates from 2.65% during first week of January to 3.09% today is just the beginning of rising rates The Los Angeles Lakers reached the playoffs 10 years in a row between 1995 and 2004. They hoisted the Larry O’Brien Championship Trophy three times between 2000 to 2002. The team was stacked and included Kobe Bryant, Shaquille O’Neal, Derek Fisher and Rick Fox. What happened in 2005? Shaquille O’Neal was traded to the Miami Heat and Derek Fisher signed as...

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The 2021 Forecast: A hot year for housing

Written by jbobbett2 on .

The year 2020 was going to be one of the hottest years on record for the U.S. economy. That all came to an abrupt halt in March due to Coronavirus Pandemic. With a national emergency and stay-at-home orders across the country, the U.S. was thrown into a recession. Yet, this was not like any other recession. Recessions are typically caused by one sector of the economy dramatically turning negative, which pulls down the entire country to negative territory. This time it was a...

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Orange County Housing Report: Low mortgage rates propel homebuyer demand

Written by jbobbett2 on .

Even though housing came to a standstill in April, the market roared back and trends have developed that foreshadow continued strength. With a low supply and strong demand, the market has not been this hot since 2013. It was sudden. It was unnerving. Nobody had seen anything like it in their lifetime. A pandemic unfolded before everyone’s eyes. Major sports leagues suspended their seasons. Disneyland closed its gates. Schools went online. California announced a “stay...

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Orange County Housing Report: V-Shaped Recovery

Written by jbobbett2 on .

COVID-19 has impacted the economy across the board. The economic data prior to the Coronavirus was pumping on all cylinders. Consumer confidence, consumption, unemployment, housing, stocks, leading economic indicators, everything was pointing to a phenomenal 2020. After the virus broke, every chart was impacted severely. Housing was no exception. Experts have been debating what the economic recovery will look like. Initially some experts were calling for a quick rebound,...

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