To borrow the line from the Grateful Dead, every closing seems to take me back to the old line from their song Truckin'. Does anyone remember when a closing was a celebration; a new homeowner happy to get the keys to their new home and start a wonderful life full of cherished memories within its walls? The housing crisis has many faces and the lack of customer service and caring about what we do and how we promote ourselves and our profession is one of the saddest faces of this entire debacle. Just last week we closed on a … (4 comments)
wellington realtor: Interest Rates Head South; Back Below 5%
- 02/19/11 06:00 PM
After rising for 4 straight weeks we saw a nice reversal in the interest rate market last week, dropping rates back below 5%. As of this morning the average overnight rate for a 30 year fixed rate sits at 4.93% down 13 basis points from the 5.06% we were at a week ago. Remember this is the average overnight rate and those with good credit will still be able to lock in rates below these averages.
The benchmark 15 year fixed rate also decreased last week to 4.23% from 4.32% while the benchmark 5/1 adjustable rate mortgage moved to the … (0 comments)
Welcome to the New Year! Here at “Results Driven Real Estate” we are looking forward to bringing you the latest numbers affecting the local real state market.
We begin 2011 with a slight increase in the overnight rate on a 30 year fixed mortgage bringing us back up slightly above the 5% threshold. As of this morning, the average overnight rate for a 30 year fixed rate sits at 5.02% up 5 basis points from where we were a week ago at 4.97%. Remember this is the average overnight rate and those with good credit … (3 comments)
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