Rodeo Realty - Chris Portugal

03/03/2024

If you have any pocket listings and or fixer homes, please DM(Direct Message) me. I have a buyers ready!

02/13/2024

Good afternoon everyone. As rates start to make their way down. Home prices start to head back up.
It is to your benefit to get into that new home to get the price you and your family are looking for as well as the payment you are looking for.
I have a very good loan person and persons with a lot of experience waiting to help you get what you are looking for and/ir close to what you are looking for!
Please do not hesitate to reach out with any questions you may have!

12/31/2023

Economic Update for the Week Ending
December 30, 2023

Stock markets ended the week almost unchanged to close out a banner year - The Dow Jones Industrial Average closed the week at 37,689.40, up 0.2% from 37,385.37 last week. It ended the year up 12.7%. The S&P 500 closed the week at 4,769.89, up 0.7% from 4,754.63 last week. It ended the year up 24.2%. The Nasdaq closed the week at 15,011.35, up 0.1% from 14,992.67 last week. It closed 43.4% up in 2023.

U.S. Treasury bond yields - The 10-year treasury bond closed the week yielding 3.88% down slightly from 3.90% last week. The 30-year treasury bond yield ended the week at 4.03%, down slightly from 4.05% last week. We watch bond yields because mortgage rates follow bond yields.

Mortgage rates are at their lowest point since June - Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of December 28, 2023, were as follows: The 30-year fixed mortgage rate was 6.61%, downfrom 6.67% last week. The 15-year fixed was 5.93%, down from 5.95% last week. Rates dropped further at the end of the week. Next week's 30-year should be close to 6.5%.

The graph below shows the trajectory of mortgage rates over the past year.

09/02/2023

Economic Update for the Week Ending �September 2, 2023
Stock markets posted their best week since June - Stock markets ended the week with solid gains as economic data pointed to a potential slowdown in the economy. Investors are in the "bad news is good news" mode. After weeks of solid economic data that sent bond yields and mortgage rates to 20-year high levels, this week's data pointed to some slowing. The second quarter GDP (Gross Domestic Product), the broadest indicator of economic growth, was revised downward from its initial reading of 2.4% annual growth to 2.1% annual growth. While the number of new jobs created in August was slightly above expectations, the unemployment rate increased, and consumer confidence dropped unexpectedly. The Dow Jones Industrial Average closed the week at 34,837.71, up 1.4% from 34,346.90 last week. It is up 5.1% year-to-date. The S&P 500 closed the week at 4,515.77, up 2.5% from 4,405.71 last week. It is up 17.6% year-to-date. The Nasdaq closed the week at 14,031.81, up 3.3% from 13,590.65 last week. It is up 34.1% year-to-date. ��U.S. Treasury bond yields - The 10-year treasury bond closed the week yielding 4.18% almost unchanged from 4.25% last week. The 30-year treasury bond yield ended the week at 4.29%, almost unchanged from 4.30% last week. We watch bond yields because mortgage rates follow bond yields. ��Mortgage rates - The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of August 31, 2023, were as follows: The 30-year fixed mortgage rate was 7.18%, down from 7.25% last week. The 15-year fixed was 6.11% down from 6.55% last week. ��Job growth was strong in August, but the unemployment rate increased - The Department of Labor and Statistics reported that 187,000 new full-time jobs were added in August. That was in line with economists' expectations. While roughly the same number of new jobs were created as reported in July, July was revised downward by 30,000 to 157,000 today. The unemployment rate increased to 3.8% in August, up from 3.5% in July, its lowest level in almost 60 years, as more workers entered the workforce. Average hourly wages increased 4.4% from one year ago, unchanged from the previous month. The labor-force participation rate (the share of workers with a job or actively looking for a job) was 62.8%, up from 62.6% in July. Experts feel that perhaps people's COVID stimulus savings are running out to explain more workers entering the workforce. The labor force is still well below its 63.4% level before the pandemic.
Have a great Labor Day weekend!

[email protected]

08/13/2023

Economic update for the week ending
August 12, 2023

Stock markets - Stock markets ended the week with mixed results. The Nasdaq's incredible 2023 rally may be stalling as it posted its second consecutive week of losses, up 30% for the year. The July Consumer Price Index (CPI), the broadest gauge of inflation, was released on Thursday. It showed that consumer prices rose 3.2% in July from one year ago. While higher than June's 3%, it marketed the second lowest inflation level in two years. The monthly increase in the inflation level was attributed to rising housing costs. The CPI peaked at 9.1% in June of 2022. The Core CPI, which excludes food and energy was 4.7% in July, its lowest year-over-year inflation level since October 2021. On Friday the Producer Price Index, which tracks wholesale prices ticked up more than expected. We also saw bond and mortgage rates increase further this week. Mortgage rates follow U.S. Treasury yields which have spiked over the last two weeks following the downgrade of U.S. debt by rating company Fitch. The Dow Jones Industrial Average closed the week at 35,281.40, up 6.4% from 35,065.62 last week. It is up 5.8% year-to-date. The S&P 500 closed the week at 4,464.05, down 0.3% from 4,478.03 last week. It is up 16.3% year-to-date. The Nasdaq closed the week at 13,644.85, down 1.9% from 13,909.24 last week. It is up 30.4% year-to-date.

U.S. Treasury bond yields - The 10-year treasury bond closed the week yielding 4.16%, up from 4.05% last week. The 30-year treasury bond yield ended the week at 4.27%, up from 4.21% last week. We watch bond yields because mortgage rates follow bond yields.

Mortgage rates - The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of August 10, 2023, were as follows: The 30-year fixed mortgage rate was 6.96%, up from 6.90% last week. The 15-year fixed was 6.34%, up from 6.25% last week.

Real estate sales figures for July should be released at the end of next week by the California Association of Realtors and the National Association of Realtors. You can get the July home sale data now at RodeoRE.com .

Have a great weekend!

Let Rodeo Realty help you find the home of your dreams. Get immediate listing alerts, current market reports, professional home evaluations, and more.

08/01/2023

Rates are high but that only mean prices are coming down.
If you are looking to avoid foreclosure, please feel free to reach out. I may have some financing options. I am always here to give information so please don’t hesitate to reach out…

07/18/2023

If you care about yourselves, watch this till the end!!!

184.8K likes, 6533 comments. “ ”

04/06/2023

First time home buyers. “Dream for All”

03/22/2023

Calabasas & Hidden Hills - LIVING! Super excited to have my first big advertising! This is just the beginning of my advertising endeavors. Great start!!

[email protected]
chrisportugal.rodeoed.com
+1(818) 488-0975

02/27/2023

Economic update for the week ending
February 25, 2023

Stock markets dropped this week on inflation fears - Over the past two weeks several reports indicated that inflation, which had been moderating steadily since peaking last June, was beginning to show signs of picking up. Friday's PCE (Personal Consumption Expenditures) report, a key report the Fed relies upon as a gauge of inflation, came in much higher than expected. New home sales hit the highest number since last March. Retail sales had a dramatic increase and unemployment hit its lowest level since 1969 in January. Investors who felt the Fed would soon stop their campaign of interest rate hikes just a month ago, now feel that the Fed will be forced to continue to increase rates for a more prolonged period to try to cool the economy. Bond yields and mortgage rates increased to their highest levels since November this week as well. The Dow Jones Industrial Average closed the week at 32,816.92, down 3% from 33,826.69 last week. It is down 1% year-to-date. The S&P 500 closed the week at 3,970.04, down 2.7% from 4,079.09 last week. It is up 3.4% year-to-date. The NASDAQ closed the week at 11,394.94, down 4.3% from 11,787.27 last week. It is up 8.9% year-to-date.

U.S. Treasury bond yields - The 10-year treasury bond closed the week yielding 3.93% up from 3.82% last week. The 30-year treasury bond yield ended the week at 3.94%, up from 3.88% last week. We watch bond yields because mortgage rates follow bond yields.

Mortgage rates - The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of February 23, 2023, were as follows: The 30-year fixed mortgage rate was 6.50%, up from 6.32% last week. The 15-year fixed was 5.76%, up from 5.51% last week.

U.S. existing-home sales - The National Association of Realtors reported that existing-home sales totaled 4.0 million units on a seasonally adjusted annualized rate in January, down 0.7% month-over-month from the annualized number of sales in December. Year-over-year sales were down 36.9% from an annualized rate of 6.34 million last January. The median price for a home in the U.S. in January was $359,000 up 1.2% from $354,300 one year ago. January marked a record 131 consecutive months of year-over-year increases in the median price in the U.S. There was a 2.9-month supply of homes for sale in January, up from a 1.8-month supply last January. First-time buyers accounted for 31% of all sales. Investors and second-home purchases accounted for 16% of all sales. All-cash purchases accounted for 26% of all sales. Foreclosure and short sales accounted for less than 1% of all sales.

02/27/2023

All I can say is I wish I had jumped into Real Estate years ago! I have a deep passion for the business and enjoy helping people find either their forever homes, investment properties and Commercial properties…
I also help with finding probate properties…

02/12/2023

Economic update for the week ending February 11, 2023

Stock markets ended their winning streak this week – Last week’s stellar jobs report hit stock markets hard this week and drove up interest rates. Interest rates dropped last month as signs of a cooling economy and moderating inflation had investors feeling that the Fed’s cycle of interest rate hikes are coming to an end. Even the Fed signaled that they were getting close to leveling off rates and mortgage rates hit their lowest levels in six months on February 2nd. When the jobs report was released on February 3rd experts were shocked to see that over 500,000 net new jobs were created, triple the number expected and that the unemployment rate dropped to its lowest level since 1969 and rates began to climb. This week that climb continued as experts now believe that the Fed could increase rates further than previously expected. It is widely felt that there is no way to get inflation to an acceptable level with two open jobs for every applicant looking for a job and wages rising. We get the CPI report next week. While still higher than at any time since the 1980s, it was at its lowest level in six months in December. Hopefully, that trend will continue when the January CPI rate is released next week. The Dow Jones Industrial Average closed the week at 33,869.27, down 0.2% from 33,926.01 last week. It is up 2.2% year-to-date. The S&P 500 closed the week at 4,090.46, down 1.1% from 4,136.48 last week. It is up 6.5% year-to-date. The NASDAQ closed the week at 11,718.12, down 2.4% from 12,006.96 last week. It is up 12% year-to-date.

U.S. Treasury bond yields - The 10-year treasury bond closed the week yielding 3.74%, up from 3.53% last week. The 30-year treasury bond yield ended the week at 3.83%, up from 3.63% last week. We watch bond yields because mortgage rates follow bond yields.

Mortgage rates – The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of February 2, 2023, were as follows: The 30-year fixed mortgage rate was 6.12%, up from 6.09% last week. The 15-year fixed was 5.25%, up from 5.14% last week. Rates were higher at the end of the week. The Freddie Mac 30-year was about 6.5% on Friday. Jumbo loans are lower.

January home sales data will be released by the California Association of Realtors and the National Association of Realtors next week.