MARKET WEEK IN REVIEW
This week Ben Bernanke’s testimony to congress was uneventful in so far as he gave no hint of a third round of quantitative easing but stay tuned; we think it’s coming and rates will move up when and if it does (remember the market buys on rumors and sells on the news). Absent any domestic news the markets turned their eyes to Europe’s problems again and as a result the US Dollar and US Bond Market are getting a safe haven buying bid which is helping keep domestic interest rates low.
CURRENT INTEREST RATES | JULY 20, 2012
| CONFORMING RATES ($200,000 – $417,000) 0 POINTS • 30 Year Fixed: 3.500% (3.59% APR) • 5/1 ARM: 2.875% (2.96% APR) |
JUMBO RATES ($625,501 – $2,000,000) 0 POINTS • 30 Year Fixed: 4.500% (4.58% APR) • 5/1 ARM: 3.000% (3.06% APR) |
| CONFORMING (HIGH-BALANCE) RATES ($417,001 – $625,500 cap by county) 0 POINTS • 30 Year Fixed: 3.625% (3.70% APR) • 5/1 ARM: 3.000% (3.08% APR) |
RATE TRENDS Rates are SAME compared to last week. Rates are DOWN compared to last month. Rates are DOWN compared to one year ago |
INDUSTRY NEWS
Home Sales & Prices Up in the Bay Area in June!
In all Bay Area Counties but one (Solano), the median price and sales volume rose in June 2012 and the overall Bay Area median sales price was the highest it has been in four years.
The median price for all new and resale homes throughout the nine counties in June was $417,000, up 10.4 percent from a year earlier. That was the highest since August 2008 and a big jump from the trough of $290,000 in March 2009. The 8,577 homes that sold in the month was up 7.2 percent from a year earlier.
Sausalito waterfront
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This article was reprinted courtesy of Gina Kemsley – Copyright © 2012 Gina Kemsley, Terra Mortgage Banking, All rights reserved.
Gina Kemsley – Senior Vice President - Loan Consultant, Terra Mortgage Banking
Office: (415) 464-3144 – Cell: (415) 828-0218 – Email: gkemsley@terramb.com – Website: www.terramortgagebanking.com/loan-officers/gina-kemsley
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About the author: The above Real Estate information on Marin County Real Estate was provided by Sylvie Zolezzi. I can be reached via email at Sylvie@YourPieceOfMarin.com or by phone/text at 415.505.4789. I specialize in luxury residential real estate in beautiful Marin County, just north of the Golden Gate Bridge.
My goal is to provide you with the best home buying or selling experience possible by combining my business and financial experience with meticulous attention to detail and a warm, personable and caring approach to meeting your needs. I have an excellent track record as a successful, results-oriented negotiator and effective communicator. My analytical skills and understanding of current market conditions, along with my ability to utilize a broad range of cutting edge technological and marketing resources, make me an invaluable real estate resource.
I am a long term Marin County resident and home owner. I strongly believe our quality of life is extraordinary and practically unmatched. I love our community, quaint towns and vast open space and never tire of their breathtaking beauty. I know the neighborhoods, the schools, the amenities; I know where you want to live. I know and love Marin County!
I specialize in Luxury Homes in the following towns in Marin County: Sausalito, Tiburon, Belvedere, Mill Valley, Corte Madera, Larkspur, Greenbrae, Kentfield, Ross, San Anselmo, San Rafael, Fairfax, and Novato.
