Industries
Top Stories Energy Materials Industrials Consumer Discretionary Consumer Staples Health Care Financials Information Technology Telecommunication Services Utilities Real Estate
Provident Financial Holdings, Inc. (PROV)
Industry:Financials
Provident Financial Holdings, Inc. is the holding company for Provident Savings Bank, F.S.B. The Bank is a savings and loan and mortgage bank that accepts deposits and invests the funds in one to four family mortgage, consumer, and other loans. The Bank operates in Riverside and San Bernardino counties and has mortgage lending operations in Southern California.
Bay Area home sales fall, but prices rise - San Francisco Chronicle
Bay Area home sales fall, but prices rise Bay Area home sales fell and prices rose a bit in October, but overall it was a quiet month, new figures show. [...] it was just before Donald Trump was elected president, and mortgage rates jumped half a percentage point. Anecdotally, real estate agents say some buyers have exited the market since the election because their loan got too expensive, they became unsure of their immigration status or just got cold feet. [...] no data suggest that the election is having an impact on the local real estate market. Median prices can go up because of appreciation, a shift in the mix of homes sold toward higher-priced ones, or some combination thereof. In October, there was a definite shift to high-end homes in most parts of the Bay Area, said CoreLogic research analyst Andrew LePage. Paragon Real Estate Group noted in an earlier report that a record number of single-family homes priced at $3 million and above hit the San Francisco Multiple Listing Service in September, which led to a surge in luxury home sales in October. The average rate on a 30-year fixed-rate loan has risen to 4.13 percent, up from 3.62 percent on election day and a low of 3.34 percent in July, according to Mortgage News Daily. Zach Griffin, a loan adviser with LaSalle Mortgage Services in Oakland’s Montclair neighborhood, said he has not had any loans fall through since the election. Dave Walsh, a branch manager with Alain Pinel Realtors in San Jose, said an agent in his office had one potential deal “go south” because of rising rates. A total of 1,080 homes and condos were added to the market since the election, roughly equal to the 1,040 in the period last year, according to the Bay East Association of Realtors.
sfchronicle.com April 6, 2018
Follow
Your portfolio news