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Waterbury, CT

Connecticut Mortgage Rate Update December 1, 2009

Don  Polletta - CT FHA loans: Mortgage Company in Waterbury, CT

Mortgage bond prices rose last week pushing Connecticut mortgage rates lower. The economic data continues to be mixed. Personal income, outlays, and PCE inflation data were stronger than expected. Trading was thin and erratic. Thin trading conditions, news of the looming debt crisis in Dubai and a continued influx of Fed money into the mortgage bond market helped rates improve.

Connecticut mortgage rates finished the week improved by about 1/2 of a discount point.

The employment report will be the most important release this week. This is one of those weeks where there are many economic releases classified as very important or important. The potential for market volatility is increased when these types of reports are released. Be alert throughout the entire week.

LOOKING AHEAD

Economic
Indicator

Release
Date & Time

Consensus
Estimate


Analysis

Construction Spending

Tuesday, Dec. 1,
10:00 am, et


Down 0.4%
Low importance. An indication of economic strength. Significant weakness may lead to lower CT mortgage rates.
ISM Index

Tuesday, Dec. 1,
10:00 am, et


54.8
Important. A measure of manufacturer sentiment. Weakness may lead to lower CT mortgage rates.
ADP Employment

Wednesday, Dec. 2,
8:30 am, et


-155,000
Important. A measure of employment. Payroll weakness may bring lower rates.
Fed "Beige Book" Wednesday, Dec. 2,
2:00 pm, et

None
Important. This Fed report details current economic conditions across the US. Signs of weakness may lead to lower rates.
Revised Q3 Productivity

Thursday, Dec. 3,
8:30 am, et


8.5%
Important. A measure of output per hour. Improvement may lead to lower mortgage rates.
Q4 Employment Cost Index

Thursday, Dec. 3,
8:30 am, et


Up 0.4%
Very important. A measure of wage inflation. Weakness may lead to lower rates.
Employment

Friday, Dec. 4,
8:30 am, et

Jobs -120,000
Unemp @ 10.2%
Very important. An increase in unemployment or a large decrease in payrolls may bring lower rates.
Factory Orders

Friday, Dec. 4,
10:00 am, et


+0.2%
Important. A measure of manufacturing sector strength. Weakness may lead to lower rates.

Fed "Beige Book"

The Fed "Beige Book" is a summary of economic conditions from each of the 12 Federal Reserve regional districts. The release takes place eight times a year approximately two weeks ahead of each of the Federal Open Market Committee meetings. The report is used at the FOMC meetings, which tends to be one of the most influential events in the market.

Market participants are continually attempting to determine what FOMC interest rate policy will be ahead of the next meeting. Any deviation from expectations usually results in extreme short-term market volatility. The timing of the "Beige Book" provides analysts a valuable look at one of the many factors the FOMC considers in setting interest rate policy. If the "Beige Book" shows signs of inflationary pressures, the Fed's ability to keep rates lower may be somewhat restricted. However, if the report shows signs of difficulties, the Fed may keep rates low to stimulate the economy.

The "Beige Book" release on Wednesday should provide market participants with valuable insight into what the Fed will do and how Connecticut mortgage rates will respond in the short-term. Be cautious heading into this and the other important releases this week.

For the latest mortgage trends, and information about purchasing or refinancing your Connecticut home visit www.ToMortgageServices.com, or call directly at (800) 922-3210.

Bucks Hill Waterbury CT Real Estate - Quarterly Market Report November 1, 2009

William James Walton, Sr. Greater Waterbury Real Estate: Real Estate Agent in Waterbury, CT

Bucks Hill-Waterbury, CT Real Estate: Quarterly Market Report November 1, 2009

The grid below gives the type of house, sizes, sales prices and days on market for the homes that have sold in the Bucks Hill, Waterbury CT area over the last 90 days.

Address

Style

#Bd

#Bth

Sq . Ft .

L/Price

S/Price

C/Date

DOM

475 CHESTNUT HILL AVE

RAISE

3

1.0

1132

176,900

158,000

08/14/2009

187

72 MADERA DR

RANCH

3

2.0

1700

154,900

149,900

08/28/2009

8

25 MEADOWLAKE RD

RANCH

3

2.0

2100

174,900

180,000

10/09/2009

35

184 GRASSY HILL RD

RANCH

4

2.5

1750

189,900

189,200

10/14/2009

46

72 FIELDWOOD RD

RAISE

3

2.0

1044

123,250

120,250

10/22/2009

18

charts

charts

Bucks Hill-Waterbury, CT Market Statistics:

Average Listing Price: $163,970

Average Sale Price: $159,470

Average Days on Market (DOM): 61

Some observations about the Bucks Hill real estate market over the past 12 months:

  1. Both average listing prices and average selling prices have climbed in this neighborhood
  2. The average number of days on market remained at 81 days, just under 3 months.
  3. The number of homes that have sold has remained fairly constant over the year.

Prior Bucks Hill-Waterbury, CT Market Reports :

Bucks Hill Quarterly Market Report January 31, 2009

Bucks Hill Quarterly Market Report May 2, 2009

Bucks Hill Quarterly Market Report August 1, 2009

East Mountain Waterbury CT Real Estate - Quarterly Market Report November 1, 2009

William James Walton, Sr. Greater Waterbury Real Estate: Real Estate Agent in Waterbury, CT

East Mountain Waterbury, CT Real Estate Quarterly Market Report – November 1, 2009

This grid below gives details on the type of house, size and number of bedrooms/bathrooms of the properties that have sold in the East Mountain neighborhood of Waterbury, CT in the last 90 days.

Address

Style

#Bd

#Bth

SqFt

L/Price

S/Price

C/Date

DOM

79 BATESWOOD RD

RANCH

3

2.0

1276

163,000

158,000

09/01/2009

272

116 PROSPECT

CAPE

3

1.5

1212

69,900

65,000

09/10/2009

254

3 COTTAGE GROVE LN

SPLIT

3

2.1

1152

104,000

121,000

09/18/2009

12

25 EASTSIDE BLVD

RAISE

3

2.0

1178

89,900

89,000

10/08/2009

3

54 GAYFIELD RD

RANCH

3

1.5

1281

150,000

150,000

10/14/2009

7

23 GATESWOOD CIR

RANCH

3

1.0

1291

149,500

138,000

10/30/2009

44

Market Statistics East Mountain , for 8/2/09 to 10/31/09:

Average List Price: $121,050

Average Sale Price: $120,167

Average Days on Market (DOM): 98

charts

charts

Some observations about the East Mountain real estate market over the last 12 months:

  1. The number of homes that have sold over the last year has exceeded the total number of homes for sale in the East Mountain neighborhood on average during any given month, and there were never more than 5 new homes on the market at any given time during the last year.
  2. The average list price vs. sales price has never been at a ratio of less than 95% at any time during the last 12 months. This suggests that, on average, the majority of the homes that have sold were priced correctly, and buyers who desired to negotiate their prices were not considered unreasonable by the majority of sellers.

Prior East Mountain Waterbury, CT Quarterly Market Reports:

East Mountain Quarterly Market Report January 31, 2009

East Mountain Quarterly Market Report - May 2, 2009

East Mountain Quarterly Market Report August 1, 2009

Meriden-Woodtick Waterbury, CT Real Estate - Quarterly Market Report 11-1-09

William James Walton, Sr. Greater Waterbury Real Estate: Real Estate Agent in Waterbury, CT

Meriden\Woodtick-Waterbury, CT Real Estate: Quarterly Market Report November 1, 2009

The grid below gives the type of house, sizes, sales prices and days on market for the homes that have sold in the Meriden\Woodtick, Waterbury CT area over the last 90 days.

Address

Style

#Bd

#Bth

SqFt

L/Price

S/Price

C/Date

DOM

89 COURTLAND AVE

RANCH

2

1.0

1024

90,000

85,000

08/07/2009

211

300 BETH LANE

RAISE

3

1.5

1650

186,000

170,000

08/17/2009

87

52 MUNSON AVE

CAPE

3

1.0

1312

154,900

145,000

08/24/2009

57

1038 MERIDEN ROAD

CAPE

4

2.0

1440

149,900

148,400

08/26/2009

128

257 MILL PLAIN AVE

COL

3

2.0

1787

174,900

169,000

08/31/2009

74

26 TOWNSEND AVE.

RANCH

3

1.0

1040

123,500

121,000

08/31/2009

52

146 WOODTICK RD

COL

3

1.0

1456

126,500

110,000

08/31/2009

331

72 WINDY DR

RANCH

3

1.2

1902

189,900

180,000

09/09/2009

55

44 BOUFFARD AVE

RAISE

3

2.0

2000

122,400

122,500

09/11/2009

85

172 CAPITOL AVE

RANCH

3

1.0

896

74,300

65,000

09/11/2009

12

16 OLIVER

RANCH

3

1.0

1040

134,900

134,900

09/16/2009

4

145 RODNEY ST

COL

3

1.1

1316

199,900

199,900

09/28/2009

21

79 BETH LN

RANCH

3

1.0

1288

66,900

87,500

10/14/2009

12

90 NEWPORT DRIVE

SPLIT

3

1.0

1202

159,900

152,000

10/27/2009

29

charts

charts

Meriden\Woodtick -Waterbury, CT Market Statistics:

Average Listing Price: $139,564

Average Sale Price: $135,014

Average Days on Market (DOM): 82

Some observations about the real estate market in the Meriden/Woodtick neighborhood of Waterbury, CT :

  1. The average list vs. sales price ratio for homes in the Meriden/Woodtick area remained above 95% for the entirety of the past 12 months. This indicates that homes for sale in this neighborhood were appropriately priced the first time around.
  2. The return of average sales prices above $130K in the last quarter of the year, combined with the fact that both the total number of homes that sold has steadily climbed over the last year and the average days on market has remained at under 60 days are positive signs for home sellers in the Meriden/Woodtick area of Waterbury’s East End . It also indicates that buyers are recognizing the value of homes in the area and are acting very quickly to buy in this neighborhood.

Prior Meriden/Woodtick-Waterbury, CT Market Reports:

Meriden-Woodtick Quarterly Market Report January 31, 2009

Meriden-Woodtick Quarterly Market Report May 2, 2009

Meriden-Woodtick Quarterly Market Report 8-1-09

Bunker Hill Waterbury, CT Real Estate - Quarterly Market Report November 1, 2009

William James Walton, Sr. Greater Waterbury Real Estate: Real Estate Agent in Waterbury, CT

Bunker Hill-Waterbury, CT Real Estate: Quarterly Market Report November 1, 2009

The charts below compare the quarterly performance of the real estate market in the Bunker Hill neighborhood of Waterbury, CT over the last 12 months:

charts

charts

Bunker Hill -Waterbury, CT Market Statistics for the last 90 days:

Average Listing Price: $ 152,828

Average Sale Price: $ 145,956

A verage Days on Market (DOM): 7 4

Number of Homes Sold: 31

An observation on the Bunker Hill real estate market in Waterbury, CT :

The average prices of homes that have sold in the Bunker Hill neighborhood have remained fairly constant for the last three quarters of 2009 . Combined with the fact that the number of home sales has increased, this indicates that home sellers in the Bunker Hill area of Waterbury, CT have a rather decent chance of getting their homes sold.

Prior Bunker Hill-Waterbury, CT Market Reports:

Bunker Hill Quarterly Market Report January 31, 2009

Bunker Hill Quarterly Market Report May 2, 2009

Bunker Hill Quarterly Market Report 8-1-09