Bay Area home sales and prices surge with tax credit rush

Fueled by federal tax credits and low interest rates, Bay Area sales took off in some of the region’s costlier neighborhoods last month, helping push the median home price there above $400,000 for the first time since the US was gripped by the financial crisis 21 months ago. First-time buyers found fewer foreclosed homes for sale in the region last month, the San Diego real estate research firm MDA DataQuick said Thursday.

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Mortgage rates drop on Fed intervention

The average U.S. rate for a 30-year fixed mortgage fell to 3.33% this week, according to Freddie Mac, as the Federal Reserve’s bond-buying program created demand for securities backed by home loans.

Apr 02, 2020 By
3d rendering of a row of luxury townhouses along a street

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