The Fed finally did it and cut the key interest rate a full half a point on September 18th, the first since we have come out of Covid. But, don't call your lender about a refi just yet. This rate cut was much anticipated so was already baked into rates. Mortgage rates are tied primarily to the bond market which is impacted by rate cuts but it can take some time for all of this to settle in. Lenders also take into account general market conditions such as inflation and job reports so it could take up to 6 weeks to start seeing a change at the retail level. And, the market has been somewhat slow with buyers out looking but ever so cautious and waiting, waiting, waiting for the right situation unless you have the perfect, squeaky clean, in the flats, walk to everything stunner home that captivates everyone and draws in multiple offers!
Same Loan Less Groan. Over the past two months, the average thirty year mortgage rate fell .51% which has improved affordability. Each .10% increase or decrease to rates roughly equals a 1% increase or decrease in your mortgage payment so that half point drop already means that your monthly payment on homes are 5-6% cheaper than they were over the summer.
One counter intuitive train of thought is that median prices may head upward with more inventory as Sellers now decide to sell when they can get lower rates for their own purchases and more homes for sale combined with lower rates can draw out more buyers and activate the market.
“What is the essence of life? To serve others and do good,” so said Aristotle over 2300 years ago. In Marin County, where many of us are fortunate to live amongst such beauty and comfort, there are still many who struggle daily and causes that need our attention and support. There are no shortages of ways to volunteer and make a difference. Herewith is a cross section of organizations that benefit both the communities they serve and the volunteers who serve them.
'Tis the season of rampant consumerism and over indulging. As we rush about, the magic of the holiday often gets lost. What are some of things that make the holidays special? The sparkling and colorful lights, the decorations, the pageantry and the music. All of these things are available and often for free around Marin County (and one in San Francisco). Here are some special outings that bring you back to the mystery and the beauty of the holidays:
Summer is officially here! The days are hot, sunny and long. Where does one cool their heels when the temperature climbs? If you don’t have a pool in your backyard and aren’t a member of a private club, what do you do? Fortunately, in Marin, there are many options for a refreshing swim and other summertime activities from one end of the county to the other. Here are some of the best watery oases to dip into in Marin…
We all know that Marin has an amazing outdoor backdrop where you can run, bike, paddleboard and surf to your heart’s content. There are also plenty of good restaurants, bars, cafes and breweries. But did you know that Marin is also the home to a few homegrown businesses that manufacture their products here? Here are some favorite Marin-made companies that are working their magic locally…
Hygge (pronounced huy-guh) is a Danish term defined as the quality of coziness and comfort that engenders a feeling of contentment. Who couldn’t use a little contentment and coziness in these modern times? Hygge is a practical way of creating a sanctuary in the middle of the very real world we live in. Let's get hygee with it!
