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A Los Angeles native, Rohit knows the cities well and understands the subtleties that differentiate the various neighborhoods. After earning his B.A in Economics at the University of California Riverside in 2009, Rohit started working at Rodeo Realty. Rohit believes that giving someone what they want or need is not the same as sales. He provides clients with enough HONEST information with a positive energetic attitude so that clients can be informed in the process. Whether that means making the sale or not, Rohit is always looking out for his client’s best interest.

Rohit’s previous experience in retail sales and marketing provides him with a background that allows him to connect with his diverse clientele on many levels. This helps him determine the best fit for each individual, couple and family. Rohit enjoys creating long lasting relationships with his clients, and finds true satisfaction in the joy they experience when the search is over and he is able to hand them the keys to their new home. Rohit attributes his success to his persistence and constant need to better oneself. He is always coming up with new ways to make a home buyer or sellers life easier. He is fluent in Hindi, Sindhi and English.

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Economic update for the week ending August 11, 2018

Stocks lower for the week - Stock market indexes posted their first weekly loss since the last week of June. Markets, which were within 1/2% of all time highs last week, after a stellar second quarter earnings season, reacted to a financial crisis in Turkey and an increase in back and forth tariff threats between The U.S. and China. The Dow Jones Industrial Average closed the week at 25,313.14, down from 25,462.08 last week. It is up 2.4% year to date. The S&P 500 closed the week at 2,833.28, down from 2,840.30 last week. It’s up 6.0% year to date. The NASDAQ closed the week at 7,839.12, up from 7,812.01 last week. It’s up 13.6% year to date.

Treasury Bond Yields lower this week - The 10-year treasury bond closed the week yielding 2.87%, down from 2.96% last week. The 30-year treasury bond yield ended the week at 3.03%, down from 3.09% last week. Mortgage rates follow bond yields. I’d expect next weeks mortgage rates to be slightly lower.

Mortgage rates almost unchanged for the week - The August 9, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.59%, almost unchanged from 4.60% last week. The 15-year fixed was 4.05%, almost unchanged from 4.08% last week. The 5-year ARM was 3.90%, down slightly from 3.93% last week.

Housing affordability drops to a 10-year low in the second quarter - The California Association of Realtors reported that only 26% of California households could afford to purchase a median priced home in California. That was down sharply from 31% in the first quarter of 2018. It was also down from 29% in the second quarter of 2017. Rising home prices, higher interest rates and stagnant incomes have driven affordable down. For example, home prices in June rose over 8% while wages grew just 2.7% from one year earlier. Interest rates were no higher in the second quarter of 2018 than in the first quarter, but were higher than in the second quarter of 2017.

Have A Great Weekend.

Rohit
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4 days ago  ·  

Economic update for the week ending August 4, 2018

157,000 new jobs added in July - The Bureau of Labor Statistics reported that 157,000 new jobs added in July. This was below the 193,000 expected by analysts, but still a healthy number. In the last 12 months job gains have averaged 203,000 a month. Wage growth, which is an indicator of inflation risk, showed average hourly wages growing by 2.7% over the past 12 months. The unemployment rate dropped to near historic lows of 3.9%, down from 4% in June. While more wage growth would be nice, 2.7% won’t put much pressure on The Fed to raise rates to combat inflation risks. Usually, with unemployment so low you would see wage growth at 3% or more. Wages have been stubborn to rise which has kept inflation in check and interest rates historically low. Especially with such robust growth.

Strong corporate earnings overshadowed trade fears this week - With over 30% of companies reporting second quarter earnings, this earnings season is turning out mostly positive. Most companies posted results that beat expectations. While Tech stocks sunk last week after Facebook reported disappointing earnings, they soared this week after Apple’s earnings were reported. Apple became the first company to have a valuation of over $1 trillion. China and the U.S. both stepped up tariffs on more products, while The U.S. and The European Union edged toward a trade deal. Trade fears probably are the reason stocks did not rally much higher on such strong earnings. The Dow Jones Industrial Average closed the week at 25,462.08, up slightly from 25,451.06 last week. It is up 3% year to date. The S&P 500 closed the week at 2,840.30, up from 2,818.82 last week. It’s up 6.2% year to date. The NASDAQ closed the week at 7,812.01, up from 7,737.43 last week. It’s up 13.2% year to date.

Treasury Bond Yields unchanged this week - The 10-year treasury bond closed the week yielding 2.95% almost unchanged from 2.96% last week. The 30-year treasury bond yield ended the week at 3.09%, unchanged from 3.09% last week. We watch bond rates because mortgage rates follow bond rates.

Mortgage rates slightly higher for the week - The August 2, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.60%, up slightly from 4.54% last week. The 15-year fixed was 4.08%, up slightly from 4.02% last week. The 5-year ARM was 3.93%, up slightly from 3.87% last week.

Have a great weekend!
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2 weeks ago  ·  

Economic update for the week ending July 21, 2018

Stocks end week with mixed results - Strong second quarter earnings were hampered by trade and tariff fears. Stock market indexes were slightly changed from last week. The Dow Jones Industrial Average closed the week at 25,058.12, up from 25,019.42 last week. It is up 1.4% year to date. The S&P 500 closed the week at 2,801.31, unchanged from 2,801.83 last week. It’s up 4.8% year to date. The NASDAQ closed the week at 7,820.20, down slightly form 7,825.82 last week. It’s up 13.3% year to date.

Treasury Bond Yields higher this week - The 10-year treasury bond closed the week yielding 2.89%, up from 2.83% last week. The 30-year treasury bond yield ended the week at 3.03%, up from 2.93% last week. We watch bond rates because mortgage rates follow bond rates.

Mortgage rates almost unchanged - The July 19, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.52%, unchanged from 4.53% last week. The 15-year fixed was 4.00% almost unchanged from 4.02% last week. The 5-year ARM was 3.87%, unchanged from 3.86% last week.

California Unemployment rate remains at all time low in June - The Employment Development Department reported that just 800 new jobs were created in June. The unemployment rate held steady at 4.2%. Average hourly wages were $30.42 in June. That was just 2.6% above last June’s rate. Los Angeles County had much better results, 8,800 new jobs were created in June. Average hourly wages grew 4.8% in Los Angeles and Orange Counties.

The California Association of Realtors has not released June sales figures. I’d expect them any day. Housing sale prices and numbers will be included in next week’s update. I would not be surprised to see inventory levels begin to creep up from historic low levels based on what we are seeing. We are seeing a number of homes that are being reduced in order to sell.

Have a great weekend!
Rohit
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4 weeks ago  ·  

Rohit Mahtani Real Estate added 30 new photos.
Rohit Mahtani Real Estate

2nd Chance at this Amazing Property! Buyer's Didn't qualify for the loan. No Appraisal issues sold significantly over asking with Multiple Offers first time around! 19110 kittridge St. Unit 4 Listed at $434,500 ... See MoreSee Less

4 weeks ago  ·  

Economic update for the week ending July 14, 2018

Stocks up for a second straight week - Stocks rallied again this week as investors expect a robust second quarter profit reporting season. Fueled by tax cuts and a strong global economy, many companies are expected to report double-digit profit growth. Stock markets are now just 3% below their all time highs reached in January. The only thing holding them back is fears of trade wars and tariffs according to analysts. The Dow Jones Industrial Average closed the week at 25,019.41, up from 24,456.58 last week. It is up 1.2% year to date. The S&P 500 closed the week at 2,801.31, up from 2,759.83. It’s up 4.8% year to date. The NASDAQ closed the week at 7,825.98, up form 7,688.39 last week. It’s up 13.8% year to date.

Treasury Bond Yields mixed this week - The 10-year and the 30-year treasury yield ended the week just 0.10% apart. It’s unusual for the 10-year and the 30-year yield to be so close. Usually an investor would want a higher rate when investing for a longer period of time. This tells us that investors may feel that rates will come down in the coming years. The 10-year treasury bond closed the week yielding 2.83%, up from 2.78% last week. The 30-year treasury bond yield ended the week at 2.93%, almost unchanged from 2.94% last week. We watch bond rates because mortgage rates follow bond rates.

30-year mortgage rates unchanged, while shorter term rates were slightly higher this week - The July 12, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.53%, unchanged from 4.52% last week. The 15-year fixed was 4.02%, up slightly from 3.99% last week. The 5-year ARM was 3.86%, up from 3.74% last week.

We will have June sales figures next week. The number of sales have been lower this year than in 2017. This is due to tighter inventory. The reduced number of homes for sale has also pushed price increases up at a faster pace than over the last few years. Year over year price increases have been almost 9% for a median priced home in California. In May there was just a 3 month supply of homes for sale. A normal market would be 6 to 7 months. We may be beginning to see some pressure in the higher price ranges in all of our areas. This may be because sellers have been too aggressive in pricing. Unfortunately, when one or two sellers push the price above what is realistic, others look at what’s listed instead of what is selling. We are seeing homes in many areas beginning to reduce. Let’s see if this impacts the inventory levels when the reports come out.

Have A Great Weekend!

- Rohit
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1 month ago  ·  

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