Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here's a visual to show how mortgage rate movement throughout 2021 was steady compared to the rapid increase in mortgage rates this year:
Just a few months ago, Freddie Mac projected mortgage rates would average 3.6% in 2022. Earlier this month, Fannie Mae forecast mortgage rates would average 3.8% in 2022. As the chart above shows, rates have already surpassed those projections.
Sam Khater, Chief Economist...
Here in Marin County, we are so lucky to have incredible local businesses that help shape this growing community for the better. One face behind these businesses is deserving of spotlight: Joe Carlo, owner and founder of Pink Owl Coffee. Pink Owl Coffee is more than just your run-of-the-mill coffee shop—they offer far more than just coffee and aim to provide a Zen retreat from the pressures of daily life for the local community. All of their coffees are made from organic fair trade coffee beans sourced worldwide, and roasted in-house.
Funnily enough, roasting coffee beans in-house was how all of this got started. Before Pink Owl had been conceived, Joe and his fiancée, Saandra Bowlus, would commonly make their own home coffee roast.
“And then we’d give them away as Christmas presents,” Joe said. “That’s how we got our hands involved in this. Eventually someone said, ‘You should start a business! You roast really good coffee.’ So we actually took that to heart and started roasting coffee professionally.”
Saandra is a breast cancer survivor and Pink Owl Coffee derives its name partly from the desire to support women in this important endeavor. Now that the two of them co-own and operate the business, that desire is a reality. From the beginning, Joe and Saandra planned to contribute annual revenue to breast cancer research and support for women.
“Saandra, is in remission—she’s good,” Joe said. “When we started this, we wanted to give back to the community. So 10% of what Pink Owl makes goes toward breast cancer research.”
In addition to their San Rafael location (1816 Second St, San Rafael, CA 94901), Pink Owl has a second location in Petaluma (617 E...
