30-Year Fixed: 6.91% | Jumbo 30-Year: 6.75% | 10-Year Treasury: 4.38%
The 10-year Treasury broke above 4.35% overnight — a clear signal that the bond market has the Fed hike fully priced in for tomorrow’s 2 PM announcement. Rates are already moving before the Fed says a word. This is how it always works: by the time the announcement hits the tape, the mortgage market has already adjusted.
Marin Snapshot: Redfin is showing 492 active in Marin — the highest single-day count this month. A Tiburon waterfront listing dropped $125K to $4.25M after 60 days. On the other end, a 3/2 in San Anselmo went into multiple offers at $1.29M after one weekend. Priced right still moves fast. Overpriced doesn’t move at all right now.
Rate Watch: Tomorrow is Fed day. I’m advising clients who are under contract to lock today if they haven’t already. We’re within hours of the most rate-sensitive moment of the quarter.
Questions before the Fed announcement? Call Michael DiVita: (800) 239-1103. DiVita Home Finance — NMLS #323700.
