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Your REALTORS®
Sandrine Larsen
| October 2007
Success Driven By Results ,Results Driven By Commitment Commitment Driven By Integrity,
We Are Prudential Preferred Properties
| Copyright 2007 Realty Times
All Rights Reserved.
Daniel Turney
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| Rates Tick Up
In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage (FRM) averaged 6.42 percent for the week ending September 27, 2007, up from the previous week when it averaged 6.34 percent.
"Consistent with the direction of 10-year Treasury securities, average rates on 30-year fixed-rate mortgages drifted up in the past week to levels close to those at the beginning of the month," said Frank Nothaft, Freddie Mac vice president.
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| | Mortgage Rates
Source: Realty Times
U.S. averages as of September 27, 2007:
30 yr. fixed: 6.42%
15 yr. fixed: 6.09%
1 yr. adj: 5.60%
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Also tracking short-term Treasury notes, average rates on 1-year adjustable-rate mortgages (ARMs) dropped by 5-hundredth of a percent.
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Banks Woo Borrowers
Who Have Good Credit
 Banks have plenty of money available for borrowers with great credit and a desire for a conventional fixed rate mortgage, says James Chessen, chief economist for the American Bankers Association.
To attract these customers, lenders are offering fee waivers, competitive interest rates, and a willingness to negotiate.
Banks like conventional borrowers because they tend to be the kind of customers that will take advantage of other products from the lender, including savings accounts, credit cards, and checking accounts.
Deals like this make it important for borrowers with good credit to shop around and compare different incentives, experts advise. | |
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Fix It Made Easy
 A broken appliance can be stressful, but finding the right part to fix it doesn't have to be, thanks to APWagner.com.
Based in Depaw, N.Y., APWagner.com is a leader in the distribution of appliance parts and accessories. The 80-year-old firm services appliance dealers, service technicians and do-it-yourselfers. The site has started a live, online chat section so users can find what they are looking for on the first visit.
The company has an inventory of more than four million pieces, and online parts professionals are available from 8 a.m. to midnight, seven days a week. The website also offers detailed descriptions and photographs of many products, image schematics, and repair tips for all types of major appliances. |
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| | Cities with Traffic That Will Drive You Crazy
 The nation's drivers wasted a total of 4.2 billion hours sitting in traffic jams in 2005, according to the Texas Traffic Institute's urban mobility report released last month. That's 38 hours per year per driver -- practically an entire work week.
Here's a list of cities where the institute found the worst traffic jams, along with the number of hours in a year drivers spent stuck behind the wheel:
Large Cities
 San Francisco-Oakland, 60 hours Washington, DC-VA-MD, 60
Dallas-Fort Worth-Arlington, 58
Houston, Tx., 56
Detroit, Mi., 54
Miami, Fl., 50
Phoenix, Az., 48
Chicago, Il., 46
New York-Newark, NY-NJ-CT, 46 Boston, Ma., 46
Seattle, Wa., 45
Philadelphia, NJ-DE-MD, 38
Medium Cities
San Diego, Ca., 57 hours
San Jose, Ca., 54
Orlando, Fl., 54
Denver-Aurora, Co., 50
Tampa-St. Petersburg, Fl., 45
Baltimore, Md., 44
Minneapolis, St. Paul, Mn., 43
Indianapolis, In., 43
Sacramento, Ca., 41
Las Vegas, Nv., 39
San Antonio, Tx., 39
Portland, Or., 38
Columbus, Oh., 33 | |
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Equal Housing
Opportunity
| Sandrine Larsen
847.557.3420
sandrinelarsen@comcast.net
http://www.northshorepreferred.com
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| Daniel Turney
847.557.3449
Email: danielturney@comcast.net
Website: http://www.northshorepreferred.com
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2 Comments on Real Estate Update October 2007
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Sandrine, welcome to active rain from a fellow IL realtor. Enjoy the site.