The Monday Lunch Club

The Place Where Valuable San Francisco & Bay Area Real Estate Information Is Shared.

February 2018
February 2018

Welcome to Monday Lunch Club Newsletter

Everything you've ever wanted to know about local real estate trends.

Subscribe Now And Be A Part Of The Club!

 

Benchmark Mortgage Rate Continues to Rise, Nearing A 4-Year High

Mortgage-Market-Survey-02-01-18-1

The average rate for a benchmark 30-year mortgage rose up another 7 basis points over the past week to 4.22 percent which is the highest rate in over ten months, 3 basis points higher than the same time last year, 27 basis points higher than at the beginning of 2018 and 44 basis points above last year’s low of 3.78 percent, according to Freddie Mac’s Primary Mortgage Market Survey data. At the same time, the probability of the Fed raising the federal funds rate in March has ticked up another 3 percentage points to 83 percent, according to an analysis of the futures market.

 

Refined Plans for a New 800-Foot-Tall Transbay Tower Revealed

Transbay-Parcel-F-Site

Having faced some pushback from Planning early last year, the plans for a 61-story tower to rise up to 800 feet in height upon Transbay Parcel F at 542-550 Howard Street have been newly refined by the F4 Transbay Partners project team (which includes Hines, Urban Pacific Development and Pelli Clark Pelli) and submitted to the City for review.

The refined plans call for 170 condos to rise over a 210-room luxury hotel and 251,000 square feet of office space, with over 9,000 square feet of retail across the development’s lower floors and a sculpted through-block pedestrian passageway from Howard to Natoma.

The proposed tower, which would become the fourth tallest building in San Francisco, includes a fifth-floor sky bridge to the adjacent Transbay Transit Center rooftop park with access via a public elevator. And as always, we’ll keep you posted and plugged-in.

*Source: S ...