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Good Monday Morning!

As Summer winds down, mortgage interest rates have been doing the same thing.  The lower interest rates that home buyers can take advantage of right now are taking the heat off of a local market in the Eugene and Springfield area that is still seeing home prices on the rise.  Don't be suprised if rates don't go even lower yet by Summers end.  The following article from "" is an on recent mortgage trends. 

Mortgage rates slipped lower over the last week, a boon to those looking to buy a home or refinance.

The 30-year fixed-rate mortgage averaged 3.55% during the week ending Aug. 22, down five basis points from the previous week, Freddie Mac reported Thursday.

Rates for 30-year home loans have only increased eight times on a weekly basis so far this year — otherwise, they have dropped or remained even.

The 15-year fixed-rate mortgage dropped four basis points to an average of 3.03%, according to Freddie Mac. The 5/1 adjustable-rate mortgage averaged 3.32%, falling three basis points.

Mortgage rates track the 10-year Treasury note. Last week, the yields of the 10-year note and the 2-year Treasury note inverted for the first time in over a decade, meaning the shorter-term note’s yield was higher. Yield curve inversions have historically signalled that the U.S. economy could face a recession.

Looking ahead, it’s unclear whether mortgage rates will fall again or increase. Federal Reserve officials appear to view the rate cut last month as a “recalibration” and not necessarily as the first of multiple cuts, according to the minutes of their most recent meeting released Wednesday.

When the Federal Reserve cuts rates, that directly affects short-term interest rates rather than long-term rates like those for the 30-year mortgage. Nevertheless, the mortgage market tends to bake in expectations of future Fed moves into the rates offered, which explains why mortgage rates were falling well before the Fed took action.

The decline in mortgage rates this year has sparked the largest refinance boom in three years.

The most recent existing-home sales data released Wednesday indicated that falling rates in July did prompt an uptick in home-buying activity, particularly in the West. Lower rates have also sparked the biggest refinance boom in years.

“The benefit of lower mortgage rates is not only shoring up home sales, but also providing support to homeowner balance sheets via higher monthly cash flow and steadily rising home equity,” Freddie Mac said in the report Thursday.

But the same headwinds that have kept many people from buying homes remain. There are very few properties for sale, and home prices are increasing as a result. That’s made it much more expensive to buy a home, and low mortgage rates only marginally offset the affordability constraints.

With the economy potentially heading toward a recession, mortgage rates could come down even lower in the weeks and months ahead. But a weaker economy could wreak havoc on consumers’ confidence — which would it even less likely that people would be inclined to buy a home. 


Have An Awesome Week!


180 SW Quince St  

Price: $305,000    Beds: 3    Baths: 2.5    Sq Ft: 1386

Beautiful two level home in Junction City. Home has vaulted ceilings & gas fireplace in living room, and a master suite located on the main level. Kitchen has granite counter tops and a cooks island with eating bar. Laundry room inside the home on m...View this property >> 


Good Monday Morning!

July of 2019 saw home sales in the Eugene and Springfield area take off.  Sales were up in July and actually set a sales record.  This is strong evidence that even with the continued increase in home price, the low mortgage interest rates are having a very positive impact.  Here are the home sales numbers for July 2019 in Lane County.

July Residential Highlights

Pending sales had the strongest numbers this month in Lane County. There were 554 accepted offers, a 1.5% increase from July 2018 (546) and a 2.6% increase from last month in June 2019 (540). This was still the strongest July for pending sales on the RMLSTM record, dating to 2001.

Closed sales (492) edged one ahead of July 2018 (0.2%) and rose 4.5% over the 471 closings recorded last month in June 2019.

New listings, at 612, fell 5.8% short of July 2018 (650) and 1.8% short of June 2019 (623).

Inventory decreased slightly in July to 1.5 months, with total market time increasing by one day to 39 days.

Year to Date Summary

Activity is cooler so far in 2019 compared with 2018. Comparing the first seven months of each, pending sales (3,090) have decreased 6.3%, closed sales (2,756) have decreased 7.0%, and new listings (3,702) have decreased 8.4%.

Average and Median Sale Prices

Comparing 2019 to 2018 through July, the average sale price has increased 5.2% from $304,900 to $320,900. In the same comparison,the median sale price has increased 3.6% from $280,000 to $290,000.

Have An Awesome Week!


2425 Lenore Dr  

Price: $420,000    Beds: 3    Baths: 2.5    Sq Ft: 2042

Beautiful and Spacious. High Vaulted ceilings. Beautiful Hardwood floors in Living Room and hallways. Granite counter and island in Kitchen. Walk-in pantry. Master and 2nd bedrooms have walk-in closets. 3rd bedroom with balcony. Master bathroom has...View this property >> 


Homeless Crisis in the Eugene and Springfield Area

by Galand Haas

Good Monday Morning!

Homelessness in the Eugene and Springfield area is a huge issue and the problem just isn't going away.  Although there are many causes for this tragic situation, one of the primary causes is the lack of affordable housing in our area.  Home ownership is becoming less affordable in our area and this drives rental rates up.  Making homewnership more affordable in our area will go a long ways towards solving our local homeless problems.  There are many things that need to happen for this to take place, but reducing property taxes and building permit fees along with opening up more land for development would go a long ways towards solving the cost of housing in our area. The following gives a quick overvue of the homeless crisis in our area.

Every other year in the United States, Point-In-Time estimates are released that provide a detailed snapshot of homelessness nationwide. Creating this snapshot involves the participation of staff from homeless assistance agencies, county and city employees, as well as hundreds of volunteers across the country. We will be using this data to compare Oregon’s specific rates of homelessness with national averages, and will attempt to uncover insights as to why any similarities or differences may exist.

According to the January 2017 Point-In-Time Count , there are approximately 553,742 individuals experiencing homelessness on any given night in the United States, representing a rate of roughly 17 in 10,000 persons. This is actually the lowest national rate of homelessness calculated in this country since the start of point-in-time data collection. But, despite this rate decrease, the overall number of individuals experiencing homelessness increased by 0.7% between 2016 and 2017.

On a national level, the decrease in the rate of homelessness can be explained by an overall shift in homeless assistance programs. Over the last decade, there has been greater national emphasis on permanent housing solutions, and less on transitional housing programs.

In Oregon, the rate of homelessness is significantly higher than the national average, at approximately 34 individuals out of every 10,000, or 13,953 individuals total. Portland’s rate is even higher at roughly 52 out of 10,000 individuals. These rates and totals mark a notable increase since 2015. Over this period, the number of individuals experiencing homelessness on any given night in the state has increased 6%, a much higher increase than what was seen on a national level.

According to Oregon’s Department of Housing & Community Services, this increase was likely caused by a an overall lack of affordable housing in the state. The latest data from the Census Bureau shows that, in 2016, Oregon was the 6th fastest growing state in the nation, and over 75% of that growth came from people moving into Oregon. However, there was also a dramatic decline in housing production between 2005-2010, causing a critically low housing supply. Oregon’s Department of Housing & Community Services states that “a low housing inventory coupled with a growing population has led to some of the lowest rental vacancy rates in the country.”
When examining national and state-wide data, it is easy to become overwhelmed by the problem.

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93048 Templeton Rd  

Price: $785,000    Beds: 4    Baths: 3    Sq Ft: 3035

Quiet And Private House on 20.59 secluded acres with gorgeous valley and mountain views. 15+ acres second growth Fir with significant market value and 2+ acres of pasture. Gorgeous custom interior with hardwood floors, vault ceilings, views. 4 bay s...View this property >> 


Home Values Continue To Increase

by Galand Haas

Good Monday Morning!

Both locally and nationally, there has been very little change in the Real Estate market.  Nationally, home sales have been sliding downwards slightly at the same time that home values continue to increase.  It is certain that this trend will not continue long term.  If demand decreases, home prices will begin to soften.  Mortgage interest rates remain fairly constant and are still extremely attractive with most 30 year fixed rates remaining well under 4%.

The remainder of the Summer should not see any huge changes in the national and local housing markets, but pricing is becoming more of an issue as home prices continue to increase faster than wage growth.  Look for some big changes coming in the near future.

Have An Awesome Week!

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2259 Corinthian Ct  

Price: $539,000    Beds: 3    Baths: 3    Sq Ft: 2772

Beautifully Remodeled home on a cul-de-sac in the Southwest Hills with views. Custom finishes throughout. Spacious with ample amounts of natural light, 2 main levels, vaulted ceilings, & 2 full kitchens. Also features 2 large master suites, 12x23 bo...View this property >> 


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Contact Information

Photo of Galand Haas Team  Real Estate
Galand Haas Team
Keller Williams Realty Eugene and Springfield
2644 Suzanne Way
Eugene OR 97408
Direct: (541) 349-2620
Fax: 541-687-6411

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