Rates on 30 year fixed mortgages dropped last week to their lowest levels in 37 years, as the Federal Reserve pledged to pour money into the mortgage market in an effort to spur the moribund U.S. housing market.  Freddie Mac reported Thursday that average rates on a 30 year fixed rate mortgages dropped to 5.19 percent, down from the year's previous low of 5.47 percent, set the previous week.  The rate is the lowest since Freddie Mac's weekly mortgage rates survey began in 1971.
     The rates do not include points.  The nationwide fee for 30 year and 15 year mortgages averaged 0.7 of a point last week.  The fee on a five year adjustable rate mortgages averaged 0.6 of a point, while the fee on one year adjustable rate mortgages averaged 0.5 of a point.
     In Marin home sales continued to fall in November.  Sales of single family, resale homes were off 33.6% year over year.  Year to date, home sales were down 21.7%.  The median price for single family, resale homes fell 7.3% in November compared to the year before.  The average price was off 17.6% while the average price was down 21.2%.  Condo sales were strong again last month, up 31.4% year over year.  The median price for condos in Marin County fell 24.9% from October, a drop of 56.7% compared to November of 2007.
MORTGATE INTEREST RATES AS OF DECEMBER 10, 2008

30 Year Fixed Conforming to $417,000 + 0.500 points: 4.875%
30 Year Fixed Jumbo          to $625,000 + 0.000 points: 5.375%
5   Year Fixed Jumbo          to $1 Million + 0.500 points: 5.750%
7   Year Fixed Jumbo          to $1 Million + 0.500 points: 6.125%

On December 18, 2008 La Jolla based Data-Quick Real Estate News reported:
Full Text Data Quick Article

On December 19, 2008 The Marin Independent Journal reported that Home Prices and Sales had Fallen
Full Text of Marin Independent Journal Article

Also on December 19, 2008 The Marin Independent Journal reported on Interest Rate Volatility
Full Text Interest Rate Volatility Article