Jan. 26, 2016

Weston - Household Hazardous Waste and Electronics Recycling Event

Posted in Current News, Weston
Jan. 22, 2016

Average rate for 30-year mortgage falls to 3.81%

Buyers - What are you waiting for? 

Take advantage of low interest rates while you can! 

According to the latest posting from FloridaRealtors.org, for the third straight week, average long-term U.S mortgage rates fell as a result of the global stock market taking a beating with falling oil prices and the fret over economic growth. Freddie Mac announced Thursday that the average rate for a 30-year fixed-rate mortgage declined to 3.81% from the previous week at 3.92%; lowest level in 3 months! 

Average rate on a 15-year fixed-rate mortgage dropped to 3.10% from 3.19%.

So whats causing this?  

In a Nut shell: The rollercoaster ride of stock markets from around the world has investors seeking safety in bonds, resulting in elevated prices of U.S. government bonds. As a result, yields on bonds have depressed which directly effects mortgage rates.   

Conclusion- 

If you're in the market to purchase a home, you've probably been focusing in on the threat, or promise, of increasing interest rates. While stocks are down, you still can lock in a great interest rate on a mortgage. Bankrate.com did a poll this week in which 50% of mortgage experts predict interest rates will fall even further over the short term. Only 20% force a rise in rates, while 30% expect little to no change. 

Buyers - Take advantage of these rates while you can.

Call me today and lets get you started in the process of purchasing a home. 

 

Posted in Buyers, Current News
Jan. 20, 2016

"King of Cocaine" former Miami home demolished.

Pablo Escobar's, aka the "King of Cocaine", former Miami beach home is being demolished by the new owners to make way for a  new modern multi-million dollar mansion. According to public records, Escobar purchased the home back in 1980 for $760,000. Current owners, Christian de Berdouare and Jennifer Valoppi, paid a reported $9.6 Million in May of 2014 for the home, which sits on a 33,000 soft Lot. Demolition will continue and we'll keep you posted on the progress of the new mansion.   

Source: The Real Deal

Posted in Current News