We just had our weekly sales meeting, and interest rates remain similar to last week. A 30 year conforming loan is 6 1/4%, a nonconforming five-year fixed is 6.5%, and a 30-year nonconforming is 7.5%.
As noted here a few days ago, the Fed rate cut has not affected interest rates. My good friend Rob […]
Everyone expects the Fed to cut mortgage rates tomorrow.
I really, really, REALLY wish I could say that mortgage rates will come down immediately, but I doubt it.
Mortgages are usually a function of the 10-year treasury note. What has happened recently, however, is that the spread - the difference between the 10 year note and […]
My best client called yesterday.
He purchases remodel projects, scrapes them, and builds new homes in their place. He’s done very well over the years, and we’ve done a number of transactions with him.
When he called, he said, “I want to make sure you’re looking really carefully at property right now. This is the time […]
The mortgage mess has considerably slowed down sales in the Marin housing market in August. There will be a market report shortly.
We are counseling a number of clients right now on both the buy and sell sides on how to navigate through this. In the long term, this will be seen as a minor […]
Statistics show we are now clearly in a Buyer’s Market in Marin County, as 23% of available homes are in contract. We consider it a Buyer’s Market when percent in contract dips below 25%, and it’s now been there since mid-June.
Inventory has been climbing, but shrank a bit the last two weeks, as there […]
