For the third consecutive week, the 30-year fixed-rate mortgage averaged a new year-to-date low.
“The 10-year Treasury yield fell 9 basis points this week,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate followed, dropping 4 basis points to a year-to-date low of 3.78 percent.”
Freddie Mac reports the following national averages with mortgage rates for the week ending Sept. 7:
- 30-year fixed-rate mortgages: averaged 3.78 percent, with an average 0.5 point, falling from last week’s previous yearly low of 3.82 percent. Last year at this time, 30-year rates averaged 3.44 percent.
- 15-year fixed-rate mortgages: averaged 3.08 percent, with an average 0.5 point, falling from last week’s 3.12 percent average. A year ago, 15-year rates averaged 2.76 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 3.15 percent, with an average 0.4 point, rising from last week’s 3.14 percent average. A year ago, 5-year ARMs averaged 2.81 percent.
I get calls often or I’ll get cornered at a public event or party with the same questions from people. How is the real estate market and what are the interest rates for loans? Easy to answer given the fact real estate professionals see the rates daily. Also they can provide interest rate trends and stats like the information mentioned above. One can see the current rates and track the direction the rates are heading. According to the stats interest rates slightly dropped to a years low but are higher than a year ago.
Will they continue to drop or will they rise depends on the the Federal Government. Modern date rates, as a result of the recent housing market crash, have ranged from as low as 2.5% to 4.5%. It doesn’t get much better than that. Many of you readers remember 13.5% in the days of the Ronald Regan Presidency.
“This house has “Great Bones.” As a real estate professional, you’ve heard the phrase countless times. You’ve probably even uttered it more than once. But what do we really mean when we say a house has Great Bones?
It’s a feature that all buyers want, but few can define and real estate Agents seem to be in disagreement with what the feature means to them. Understanding how to identify qualities that add up to the coveted “Great Bones” feeling can help you set your listing apart. Recently, Architectural Digest’s Lindsey Mather asked a handful of designers to get specific about the qualities that give a home this elusive quality. Here are a few distinct items they look for although I’ve given my interpretation of what “Great Bones” means to me following these three features.
Good flow: Check how it feels to simply walk through the home. Do the rooms make sense next to each other, or do they seem choppy or lopsided? Alabama decorator William McLure says architects and designers often rely on symmetry and mirrored design elements to offer a feeling of balance to residential spaces. “It makes the layout of the house not look like an afterthought,” he says. “You want rooms that look well planned and that structurally make sense.”
All the little things: Here’s where your macro lens comes in handy: The intricate details and architectural features that make a listing stand out in the eyes of buyers are often too small to see in a wide-angle property tour photo. Fancy plaster, original fireplaces, bespoke ceiling beams, thick moldings, and vintage lighting and hardware are all worth the time to fawn over in your listing descriptions. Also, any windows that are out-of-the ordinary can really help a place stand out as different.
Plenty of headroom: Sometime we use “Great Bones” to refer to elements that are hard to change, according to New York–based interior designer Alyssa Kapito. “A room or a house with “Great Bones” for us has high ceilings, tall windows, and is generally well proportioned,” she says. “Everything decorative can be rather easily switched, but it’s quite difficult and expensive to get those three items on your checklist if they aren’t already there.” Make sure you check for drop ceilings, though. “Great Bones” sometimes hide under tiles and panels.
“Great Bones” means none of the things referenced above to me. Really ? Do these features strike you as “Great Bones”? “Great Bones” to me refers to the quality of construction materials and structural elements of the home that are not necessarily visible….much like the bones in our body providing good foundation, but not necessarily seen. Some examples are 2×4 vs. 2×6 framing stick built, high grade lumber, steel framing, re-bar in slab foundations, earthquake strapping, limit prefab roofing material and reinforce those materials, 50 year comp roof or life time tile, plaster rather than drywall, etc. Simply stated…It’s about quality construction and quality materials that define the terminology “Great Bones”.. Simply stated…It’s about quality construction and quality materials that define the terminology “Great Bones”.
Redding residents have reason to celebrate this rainy morning. No, not because it’s raining although that’s part of the happy feeling. Unofficially appointed Officer Roger Moore will be our most welcomed Police Chief in these most challenging times. City Council should / will make the appointment official within a week or two.
Roger is a Redding homegrown man with many years of service and experience. For those who don’t know him personally may recognize him from appearing on Channel 7 News frequently. He truly understands the need for dealing with crime and the homeless locally. He’s most qualified for the job given the fact of being on the local front line for so many years. Simply stated…he can RELATE to the circumstances and situations Redding is faced with each and everyday. We have not seen a person more qualified than Roger in decades or may never have seen one so qualified.
We know no one man can do it alone. It takes an understanding and cooperative City Council along with good citizen cooperation to get us to a safer place. Let’s hope that we all do are part each and everyday. Good luck Roger Moore!
Remember when the mail man or mail lady would deliver your mail on to your porch or a mail box in the front yard. They delivered on foot pushing a mail cart in the spring, summer and fall months, only using their trucks in bad weather. They often addressed you by your name and even hand it over to you and you would thank them by their name. As the years passed the way of mail delivery had gone through a couple of revamps for the worst.
- Mail has to go through Sacramento P.O. before it can be delivered to Redding. What took 2 days to get now takes up to 5 days or longer to receive.
- Mail boxes are to be placed out on the curb so the delivery people don’t need to get off their behinds. Fast food / Fast mail concepts. I’ve now received 4 separate mail deliveries days late with a notation at the top “mail box blocked”. Must have been a neighbor’s car or someones because it was sure the heck not mine! The delivery truck only needs to move up 10 ft or less from the box. You would think the delivery person would be courteous enough to have gotten out, take a few steps and place it in the box. Not the case. Worst of all since the boxes have been placed on the curb mail theft has significantly risen. Time to get a locking mail box.
- I’ve not had one steady mail delivery person in over 15 years. They never get it right many times because they have no clue who you are and they don’t care.
- Finally…$$$ of a stamp is ridiculous.
The days of the Pony Express are long gone. Riders faced rain, sleet , snow, thieves and hostile Indians in order to deliver the mail. Today’s riders sitting in their white horse on its 4 wheels can’t be accountable under the simplest of unusual circumstances.