30-Year Fixed: 6.98% | Jumbo 30-Year: 6.85% | 10-Year Treasury: 4.43%
Rates pulled back slightly off yesterday’s highs as the initial post-hike volatility settles. The 10-year Treasury came back from 4.47% to 4.43% — a small relief but confirmation that the market had already priced most of this move. The 30-year is sitting just under 7% today.
Marin Snapshot: Redfin showing 486 actives — down a few from Wednesday’s spike, as a handful of rate-spooked sellers pulled listings rather than cut prices. Weeks on market now averaging 49 days countywide. The Median is holding at ~$1.395M. Marin does not do fire sales. But it does do longer negotiations, and that’s actually where we are.
Buydown Update: I’ve now run the 2-1 buydown scenario for four clients in escrow this week. On a $1.2M purchase with $24K in seller concessions, buyers are looking at effective payments of $6,118/month in year one (at ~5%) and $6,256/month in year two (at ~6%) — before stepping up to the note rate of ~7% in year three. For buyers with a 3–5 year time horizon, this is the most powerful structure in the current market.
Call or text Michael DiVita: (800) 239-1103. DiVita Home Finance — NMLS #323700.
