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.+ Read More
Economic update for the week ending January 25, 2020
Stock markets lower for the week - After several weeks of steady gains, stocks declined moderately from all-time highs this week. The Dow Jones Industrial Average closed the week at 28,989.73, down 1.2% from 29,348.10 last week. It’s up 1.6% year to date. The S&P 500 closed the week at 3,295.47, down 1.0% from 3,329.62 last week. It’s up 2.0% year to date. The NASDAQ closed the week at 9,314.91, down 0.8% from 9,388.94 last week. It’s up 3.8% year to date.
U.S. treasury bond yields lower week – The 10-year treasury bond closed the week yielding 1.70%, down from 1.84% last week. The 30-year treasury bond yield ended the week at 2.14%, down from 2.29% last week. We watch treasury bond yields because mortgage rates often follow bond yields.
Mortgage rates - The Freddie Mac Primary Mortgage Survey released on January 23, 2020 reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 3.60%, down slightly from 3.65% last week. The 15-year fixed was 3.04%, almost unchanged from 3.06% last week. The 5-year ARM was 3.28%, down from 3.39% last week.
California existing home prices surged in December - The California Association of Realtors reported that existing home sales totaled 398,880 in December on a seasonally adjusted annualized rate, up 7.4% from December 2018. The median price paid for a home in December was $614,090, up 10.3% from December 2018. That marked the largest year over year price increase since May 2014, and the first double digit year over year price increase in 5 1/2 years. Inventory levels continued to drop. There was just a 2.5 month supply of homes listed for sale in December, down from a 3.5 month supply one year ago. Inventory levels dropped 26.5% from one year ago, and December marked the lowest inventory level in 7 years. On a regional basis, in Los Angeles County the median price increased 9.0% year over year. In Orange County the median price increased 7%. In Ventura County the median price increases 2.7%.
U.S. Existing home sales surged in December - The National Association of Realtors reported that the number of existing homes sales surged 10.8% in December, from the number of homes sold nationwide in December 2018. The median price increased 7.8% year over year in December. That marked the 94th straight month of year over year price increases. There was a 3 month supply of homes for sale, down from a 3.7 month supply last December.
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Just Posted 4 New Videos on My YouTube Channel. Link in Bio Some amazing homes! #therohitmahtani #realtor #luxuryliving #luxurylifestyle #realestateagent #porterranch #rodeorealty ... See MoreSee Less
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Economic update for the week ending December 14, 2019
Stock markets rise on trade deal - A limited trade agreement was announced this week between The U.S. and China. This deal calls for halting the trade war. President Trump stated that with this “phase one” agreement new tariffs that were set to take effect Sunday will not be enacted, and tariffs placed on some Chinese goods in September will be cut from 15% to 7.5%. China will reduce tariffs on some U.S. goods. They also agreed to increasing purchases on U.S. agricultural goods. This was just one week after President Trump said he was in no rush to make a deal which caused stocks to fall last week. News of an impending deal began to leak out early in the week and an announcement was made Friday that a limited trade deal had been struck. Once again markets closed the week at new record highs. The Dow Jones Industrial Average closed the week at 28,135.28 up 0.4% from 28,015.16 last week. It is up 20.6% year to date. The S&P 500 closed the week at 3,168.80, up 0.7% from 3,145.91 last week. It is up 26.4% year to date. The NASDAQ closed the week at 8,734.88, up 0.9%, from 8,656.53 last week. The NASDAQ is up 31.6% year to date.
U.S. treasury bond yields - The 10-year treasury bond closed the week yielding 1.82%, almost unchanged from 1.84% last week. The 30-year treasury bond yield ended the week at 2.26%, down slightly from 2.29% last week. We watch treasury bond yields because mortgage rates often follow bond yields.
Mortgage rates slightly higher this week - The December 12, 2019 Freddie Mac Primary Mortgage Survey reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 3.73%, up slightly from 3.68% last week. The 15-year fixed was 3.19%, up slightly from 3.14% last week. The 5-year ARM was 3.36%, almost unchanged from 3.39% last week.
Home sales data should be released next week. November home sales will be included in next weeks update.
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1 month ago ·