If you are thinking of buying a home or refinancing your mortgage to take advantage of today’s amazingly low rates, make sure to check my blog every week end for my weekly Mortgage Market Review courtesy of Terra Mortgage. And don’t hesitate to give me a call with any question or for a referral to Marin’s top mortgage professionals.
This morning U.S. Treasuries continued their climb upward as International investors worried about Spain’s ability to follow through on their budget. The US Ten-year Treasury note rose 9/32 with yields easing to 1.63%. In comparison Spain’s borrowing cost on their 10-year today breached the 6% mark and probably will move to 7-8% by next week (ouch!). Unfortunately their pain is our gain and rates continue to improve.
CURRENT INTEREST RATES | SEPTEMBER 28, 2012
($200,000 – $417,000) 0 POINTS
• 30 Year Fixed: 3.250% (3.35% APR)
• 5/1 ARM: 2.500% (2.59% APR)
($625,501 – $2,000,000) 0 POINTS
• 30 Year Fixed: 4.000% (4.09% APR)
• 5/1 ARM: 2.875% (2.96% 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: 2.875% (2.96% APR)
Rates are BETTER compared to last week.
Rates are BETTER compared to last month.
Rates are DOWN compared to one year ago
Case Shiller Home Price Index Rises Again Feeding Optimism of a Genuine Housing Rebound
U.S. home prices inched higher yet again in July, extending gains to what is now three straight months of increases across all major markets, fueling a sense of optimism that perhaps this time around a recovery in housing will finally stick.
The latest S&P/Case-Shiller Home Price Indices report showed that on a month-to-month basis, the 10-City and the 20-City Composites rose 1.5 percent and 1.6 percent, respectively, from June levels, and all 20 cities surveyed saw positive monthly changes.
The upward momentum added to a growing perception that the housing market, which was at the epicenter of the 2008 credit crisis, might be finding a bottom.
As recently as last spring, home values were still dropping to new lows nationally. But home prices have been rebounding since then and now remain about 30 percent off their 2006 peak levels. Many see a recovery in housing as key for any sustainable recovery in the broad U.S. economy.
This article was reprinted courtesy of Gina Kemsley – Copyright © 2012 Gina Kemsley, Terra Mortgage Banking, All rights reserved.
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 am an award winning Realtor specializing 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 innovative 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.