Mortgage Madness: Why Interest Rates Shot Up and What This Means to Home Buyers and Owners
Recent had a great chat with friend, mortgage broker, and East Bay Realtor David Tang Pitch Black movie download Streets of Blood the movie Persuasion on dvd Touch of Evil move
about the recent spike in mortgage interest rates. David has always provided some sound advice and updates on how the current real estate and finance markets are doing. This is what he had to say:
Mortgage rates took a big jump yesterday as investors looking at the United States Government’s efforts to sell nearly $2 TRILLION
in U.S. Treasury bonds this year to fund its various Stimulus programs decided that the risk of inflation and rising interest rates were too high at the current record low yields.
In addition, signs of a recovery in the United States and globally are prompting some investors to lighten their holdings in U.S. Treasuries in search of other opportunities with greater potential returns.
Mortgage rates jumped from 0.25% to 0.75% as banks and lenders tried to figure out what was
a reasonable rate to charge for mortgages in this new climate of potentially rising interest rates.
For potential home buyers and those considering a refinance, it would be strongly advised to double check with your lender to see if your rate was locked prior to Wednesday – and if not – what the new rate is going to be.
After a period of relative calm in the interest rate markets, it looks like there could be some turbulence ahead so make sure you get good counsel on what your options are to protecting your financial position.
If you or anyone you care about is interested in obtaining more information about real estate and mortgages, feel free to contact us
.
Top 10 Open House Mistakes Sellers Can Make
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- Not Having the Property Staged—Buyers have come to expect an impeccable environment. And given the slower market, it’s critical that your house look as perfect as possible. Stagers can artfully disguise the defects and showcase the assets of a home.
- Holding the Open House Yourself Satan’s Little Helper movie full
—It’s inevitable that you’ll chat with potential buyers, and in being friendly you may unwittingly reveal something that diminishes your negotiating power. Just saying your spouse got a new job and you can’t wait to relocate gives buyers negotiating leverage. Also, you may say something that seems innocent but violates the law—such as the Fair Housing Act—and gets you into hot water.
- Not Clearing Clutter—You want buyers focusing on your house, not on your stuff. Collectibles and piles of paper and laundry, for instance, are a distraction. And for prospects who love order, an untidy house may make them wonder whether the rest of the house has been maintained in an iffy way over the years.
- Showing Carpet Stains
—When it’s your own dirt, it’s one thing. No one wants to move in and share space with someone else’s. Enough said.
- Lacking a Fresh Coat of Paint—Fresh paint gives an extra sparkle to a house, and it’s an inexpensive way to brighten a property and show that it’s in move-in condition. Prospects can immediately check painting off their to-do list.
- Leaving Fliers in the Flier Box Outside
Flight of Fury divx —You want people to come in to see the house and fall in love. If there’s a flier available, they may just grab it and run. Then you’ve missed a chance at a love connection.
- Forgetting to Advertise the Open House on the MLS and Craigslist—These sites are primary hunting ground for buyers and their agents. To reach the most prospects possible, promoting an open house on the MLS is a must. Craigslist is free!
- Forgetting to Turn on Lights and Keeping the Window Shades Closed—Even the most beautiful property can seem gloomy and oppressive in the dark. Opening all the shades brings in natural light—a huge selling point—and lets buyers see any landscaping or special outdoor spaces your house offers. Also, like a fresh coat of paint, keeping all the lights on provides a house with a little extra sparkle.
- Not Having a Brokers Open House Tour
—Getting advice and feedback from local agents during a brokers open house is priceless. Some typical questions to ask agents that come by are, “What do you think about the pricing?” and “How do you think it shows?”
- Not Leaving the Toilet Seats Down
—Need I say more?
- Not hiring Alex and Rainmaker Properties to host your next open house.
