Ben Bernanke’s comments today have further calmed down the mortgage rates, now back under the 4.5% threshhold.

Was there much panic in the last couple of weeks? Either a flood of new listings, or buyers rushing in/backing off?

Not really. Here are new listings and new pendings for 7/1 to 715:

Town or Area
Zip Code
New Listings
New Pendings
Cardiff
92007
10
6
NW Carlsbad
92008
8
9
SE Carlsbad
92009
10
6
NE Carlsbad
92010
8
5
SW Carlsbad
92011
14
8
DM/SB
14+75
27
9
Encinitas
92024
38
22
La Jolla
92037
31
15
RSF
67+91
28
9
Carmel Valley
92130
35
30
NSDCC
All
232
134

With the headlines about the worst mortgage-rake spikes in the history of the world, these numbers look about as “normal” as possible. It helps substantiate how our local market is being driven by regular people who are out buying and selling homes for their own personal use.

Furthermore, if there wasn’t a panic during the last couple of weeks, there probably won’t be one. At least not with the buyers – they’ve waited this long, they aren’t going to rush anything now (heck, rates might come down?).

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