How is the Marin real estate market? In the last two months of 2023, the average weekly 30-year mortgage interest rate dropped from 7.79% to 6.61% (We’ve had clients secure Jumbo rates as low as 6.25%). With the fall in inflation this past year, the Fed is widely expected to begin dropping its benchmark rate, probably in multiple steps, in 2024. The consensus forecast among analysts is for further declines in mortgage interest rates. After its end-of-year rally, the S&P Index was up 25%, and the NASDAQ up 45% in 2023 (though it ticked down in early 2024). This plays a major role in Bay Area household wealth. As interest rates fall and confidence rebounds, the big question is when buyers and sellers will return to the market in normal numbers. Currently, the trend is positive.