Refinance Application Rates Drop
This past week saw a mixed bag of economic news that had mortgage rates in a quandary. Positive reports on new and existing home sales along with signs of a slowing in the rate of home price decline signaled a possible recovery in the housing market that put upward pressure on rates. These reports were tempered, however, by the Mortgage Bankers Association’s release of its weekly mortgage application index which fell to 960.6 lead by a 21.9% drop in refinance applications. Read more
Episode #3 - House in The Glades for $120/foot
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Spice up Your Home with New Plants
We have talked the last few weeks about how to get those buyers out of the car and into the house writing offers. This week we going to talk about how a beautifully manicured yard sends an inviting message to the buyers that the person who owned the home treated it with loving care. It is hard to pass up a yard that is groomed and especially when it is blooming with color. I always had gardens at my home before I gave into condo living and the challenge was to find flowers that looked pretty even when they were not blooming. Let me share some great choices for color, ease and lasting punch to your yard.
Mortgage Rates at Second Lowest Level Ever
Mortgage rates eased last week settling at the second lowest level on record according to Bankrate.com. A sense of uncertainty seems to have returned to the markets, which tend to send investors running for the safety of bonds, and that is what played out last week and Monday. On Tuesday, however, a renewed confidence that the financial system is stabilizing and signs that the recession may be easing offset lackluster corporate earnings reports to send stocks higher. This has placed upward pressure on bond yields driving mortgage rates slightly higher with the thirty-year setting in around 4.875%. Fifteen year fixed rates are pushing up towards 4.375% and Jumbo rates remain stubbornly in the high 6% range.
Episode #2 - Wild Heron Home for $171/foot
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Stage that home and WOW your buyers
Stage that home and WOW your buyers
Last week, we impressed your buyers with the front door, so much that they got out of their car. So, what do you do with them now? The following are great cheap tips for staging that have been supplied by other Realtors.
Thirty-Year Fixed Raises to 5%
Mortgage rates broke their four week fall last week as rates rose slightly with the benchmark thirty-year ending up right at 5.00% after another strong week for the stock market depressed bond prices. But that has since changed this week with bonds recovering most all of last week’s losses sending mortgage rates back below 5.00%.
Episode #1 - New Home $97/foot
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Paint That Front Door!
Paint That Front Door!
Real Estate has gotten a little whacky these days and home owners and others are resorting to some “out there” stuff such as voodoo dolls, feng shui and smudging. Smudging gets rid of that nasty negative energy that’s keeping the buyers away. Professionals walk around your home with a smudge stick to wipe away the bad negative energy. It works so well, professional Smudgers claim, it makes you wonder why they don’t teach it in real estate school. If Smudging or rearranging your furniture to fit your energy field does not work for you lets try something simple and inexpensive.
Mortgage Applications up almost 5%.
Mortgage Rates rose over the past week but still remain just below 5.00% for thirty-year fixed. Returning confidence in the stock market and signs of an eventual economic turnaround put downward pressure on bond prices at the end of last week causing rates to rise. We have seen some rebound in the bond market this week but not enough to affect a significant change in mortgage rates.
