Marin Real Estate

Mount Tamalpais from Tiburon, California
Mortgage Rates
30 year fixed conforming to $ 417,000: 4.75% at 1 point.
30 year fixed high balance to $ 729,750 in certain areas: 4.875% at 1 point.
30 year jumbo 5/1 Arm up to $ 1,500,000: 3.625% at 1 point.
Mortgage News
Cash is king. The Existing Home Sales number (which jumped 2.7% in January) included data that showed all-cash sales rose to 32% last month from 29% in December. In fact, all-cash purchases are at the highest level since NAR started measuring these purchases monthly in October 2008, when they accounted for 15%. NAR's president said the median price is being dampened by "Unprecedented levels of all-cash purchases, primarily of distressed homes sold at deep discounts." Speaking of which, "distressed" homes enjoyed a 37% market share in January - about the same as last year. The overall Existing Home Sales number was up for the third straight month, and sales rose in the Midwest, South and West, but declined in the Northeast.
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