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August 2007
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The Ever-Changing Mortgage Rate
Imagine you are a first-time homebuyer and what you thought was a decent rate suddenly went up one percent the next day. Or perhaps you are a homeowner wanting to refinance your mortgage to a rate lower than your current one and find yourself waiting for the rate to drop so you can make your move. Understanding why rates changes so often is not an easy task. But it is certainly something that every homeowner or homebuyer will have to understand to get the best value for their money.
Simply put, mortgage rates are affected by interest rates, which change frequently due to supply and demand, but are directly influenced by the trading of mortgage-backed securities, which trade on a daily basis. An example of mortgage-backed securities is Fannie Mae. Fannie Mae buys large quantities of mortgages, creates securities with them and sells them as Fannie-Mae-backed securities on the stock market. The rates on these securities influence mortgage rates very strongly.
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DO THE MATH
Click on these online calculators and you can determine:
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Hot Decorating Tips: Go From Drab
to Fab With These Ideas
Every homeowner eventually wants to make a change, but if you're like many people you haven't a clue where to begin. Just like fashion styles, interior designs change with the times as well. So, if you've been in your home for a long time and are ready to sell or are just ready for a makeover, read on to see if the hottest trends are suitable for your home.
Go ahead and slap a fresh coat of paint on the walls. But don't make it sterile white or boring beige. At the very least use these colors along with some vibrant accent colors on a single wall or two.
"We've gone through an era of everything being very muted and quiet and what we see with the younger generation coming up is that we're really going to use lots of colors. Colors on the walls, color on the furniture such as lime greens, browns, oranges and bright reds," says Dixie Lovejoy, owner of Arizona-based Apple Interior Systems, Inc.
A little paint can make a major change to a home. It's always a good idea to put on a fresh coat or at least touch up the paint before you place your home on the market. It gives a buyer a feeling of cleanliness
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Over-cooked Hype Hikes Kitchen Costs
An update on kitchen remodeling reveals you could be spending a lot more and getting a lot less when you do-over your home's social center.
Consumer Reports “Kitchen-Planning Guide” now includes a new feature "Great Kitchens For Less," a dissertation on spending less and getting more when you remodel or just swap out old appliances with new. With findings and recommendations based on independent laboratory tests, pricing comparisons and cost analyses, the Consumers Union publication says the hype on stuff you can buy for the kitchen is often just that.
It's not surprising kitchens get the hard sell.
Kitchens are the social gathering spot for the family and guests and new
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Terri S. Zanolli
email:
website:
phone: 239-699-5926
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PNC Mortgage
12651 McGregor Blvd 4-403
Fort Myers, FL 33919
phone: 239-274-5266
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PNC is a registered service mark of The PNC Financial Services Group, Inc. ("PNC"). PNC Mortgage is a division of PNC Bank, National Association, a subsidiary of PNC. All loans are provided by PNC Bank, National Association and are subject to credit approval and property appraisal. (c) 2009 The PNC Financial Services Group, Inc. All rights reserved. |
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