WASHINGTON – The average rate on the 30-year fixed mortgage dropped near its all-time low this week, making home-buying and refinancing a bargain for those who can qualify.
Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan fell to 3.88% from 3.98%. That’s just above the rate of 3.87% reached in February, the lowest since long-term mortgages began in the 1950s. The 15-year mortgage, a popular option for refinancing, plunged to a fresh low of 3.11% from 3.21% last week. The previous record of 3.13% was hit last month.
Mortgage rates are lower because they tend to track the yield on the 10-year Treasury note. Last week’s disappointing report on March job growth led more investors to sell stocks and buy Treasurys, which are considered safer investments. As demand for Treasurys increases, the yield falls.-USA TODAY 4/12/12
Posted on: May 3, 2012
Cubans are all set to buy and sell their homes under the new reform. They lined up at notary offices to do deals or start the process of transferring properties.
(Reuters) – Cubans lined up at notary offices and banks on Thursday to do deals or lay the groundwork for them on the first day they could legally buy and sell houses in more than half a century.
They said they welcomed the chance to finally make money off their property in a step away from the doctrinaire communism they have lived under since Cuba’s 1959 revolution.
The change was the result of a reform announced last week by the government, which is liberalizing the Soviet-style economy in hopes of keeping one of the world’s last communist states afloat.
Last month, it gave its citizens the right to freely buy and sell cars for the first time since 1959.
Previously, Cubans could legally only trade their home for others in what they call a “permuta, although often… continue reading
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Posted on: July 22, 2012
On Thursday the Indianapolis Real Estate Conference boasted around 500 professionals in attendance. The conference was held to discuss the future of business.
Hundreds of real estate professionals are meeting Thursday at the Indianapolis Real Estate Conference to discuss the future of their business.
Many commercial real estate agents will tell you the market these days are both sobering and enlightening.
One real estate agent put it best: People need space to do their job and so job growth is the driver of the commercial real estate climate.
One sign of growth is Eli Lilly’s decision to rent space to Rolls Royce, moving 2,500 jobs downtown.
Industry insiders said sales at outlet malls also are helping big companies increase revenue, as retailers and… continue reading
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Posted on: July 22, 2012
