Good News on Mortgage Rates!

Freddie Mac Mortgage Rates Back Below 4%

The nation's average 30-year fixed-rate mortgage rate dipped back below 4% on weaker housing economic indicators. 

The Freddie Mac survey showed the 30-year FRM averaged 3.99% for the week ending Thursday, down from the prior week's average 4.08%. Last year at this time, the 30-year FRM averaged 4.86%.

The decline in rates doesn't do much to bolster Freddie Mac Chief Economist Frank Nothaft's prediction on Wednesday. He said he expects the 30-year FRM to increase to 4.5% throughout the year, citing various economic indicators such as housing starts and new home sales. 

The 15-year, fixed-rate home loan, a popular refinancing choice, averaged 3.23%, down from last week when it averaged 3.30%. A year ago, the average rate for a 15-year FRM was 4.09%
After saying Wednesday that the housing market is beginning to shake off the Depression-like shackles that have plagued it for years, Nothaft referenced weaker housing economic indicators in explaining the rate slide. "The S&P 20-City composite home price index slid in January to its lowest reading since December 2002," Nothaft said. "In addition, new home sales declined 0.5% in February, below the market consensus of an increase, and pending existing home sales also declined for the month."
Home loan analytics firm Bankrate, which surveys large banks, reported the 30-year FRM fell to 4.23% from 4.30%, while the 15-year FRM fell to 3.44% from 3.48%. The 5/1 ARM inched down to 3.14% from 3.15%.


Call us with all of your Real Estate needs! 616.366.5240 
Have a wonderful day! 
The Northouse Realty Group - Five Star Real Estate
Jeff Northouse - Christine Lassa


GR Homelink Website
Email Jeff
Email Christine

Stay Safe In Summer!

According to recent statistics, many Michigan residents' favorite season is also the most dangerous! Yes, unfortunately crime rates in many areas rise right along with the temperature during summer months.

Home invasions increase during the summer months due to lighter security; namely, open windows and homes left empty during vacations. Hot weather and school closures also mean more people outdoors and on the street than during the colder months here in Michigan. Luckily, there are several simple precautions to take in order to protect yourself, your loved ones, and your home this summer!

Be Aware!

The summer gives us all a chance to relax and enjoy longer days filled with fun activities, but it's also important to stay alert and not let the basics get lost in the summer shuffle:

• Lock your doors and windows. Don't forget to keep the door from your garage to your home locked, especially if you keep your garage door open.

Securing Your Home During Your Vacation

We all look forward to our summer vacations. But whether you are heading to Florida to visit Grandma, camping at Lake Michigan, or heading to the cottage for the weekend, it's important to take precautions before leaving.

• Install motion sensor lights around the outside of your home.
• Put indoor lights on timers so they come on at different times, making it appear as if someone is home.
• Have a trusted neighbor or friend collect your mail and newspapers.
• For extended trips, pay someone to cut your lawn and pick-up any litter or trash.
• Engage the garage door lock before you leave (use the lock on the wall box or on the main device overhead).
• Be sure your trusted neighbors know you are away so they can keep an eye on your home.

Remember- No matter how busy you are, you are never too busy to be safe!

[Tips courtesy of mirealtors.com and Andrew Wooten]

Call us with all of your Real Estate Needs! 616.366.5240

Have a Wonderful Day! -The Northouse Team

Five Star Real Estate/ Jeff Northouse 

Visit the GR Homelink Website!                        Email Jeff Northouse

Home Equity Lines Back Again!

Daily Real Estate News

December 15, 2009

Banks Again Offering Home Equity Lines

Now might be a good time for homeowners who still have plenty if equity in their home to tap into it.
Lenders are again writing home equity lines of credit, says MortgageBot, which processes real estate loans.
Homeowners with more than 20 percent of equity in their homes may find the HELOC a better source of emergency cash than a credit card as long as they don’t exhaust their equity.

Source: CNNMoney.com, Linda Stern (12/14/2009)

http://www.realtor.org/

Call us with all of your Real Estate Needs! 616.366.5240

Have a wonderful Day!
The Northouse Team ~ Five Star Real Estate

Jeff Northouse ~ Malinda Root
GR Homelink Website
Email Jeff
Email Malinda