RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Mortgage Rates Slow to Rise

June 27, 2016 2:42 am

Fixed mortgage rates, on average, remain low. According to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®), the average 30-year fixed-rate mortgage (FRM) is 3.56 percent, with an average 0.6 point, and the average 15-year FRM is 2.83 percent, with an average 0.5 point. The average 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) is 2.74 percent, which an average 0.5 point.

Why so low? Mortgage rates are gradually responding to recent fiscal developments, says Sean Becketti, chief economist of Freddie Mac.

“Mortgage rates have been slow to adjust to the 10-year Treasury yield, which has increased 12 basis points since [the week of June 6, 2016],” Becketti said in a statement. “[Last week’s] survey shows the 30-year fixed-rate inching up to 3.56 percent, only two basis points above last week’s average. The low rates continue to be good news for the housing market, as existing-home sales rose 1.8 percent to a 5.53 million seasonally-adjusted annual rate in the month of May—the highest level since February 2007.”

Source: Freddie Mac

Published with permission from RISMedia.


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3 Upgrades Every Homeowner Should Make

June 27, 2016 2:42 am

(Family Features)—Improving your home can grow the value of your investment—if the right upgrades are made. No matter which kind of home you own, these home improvements top the list.

1. Power Backup – Natural disasters are on the rise, and expected to become more impactful in the future. Installing a standby generator system is one upgrade that will pay dividends in peace of mind. Look for a system that has automatic “power management” technology—this will power all of your home’s appliances efficiently and safely.

2. Smart Home Automation – The smart home is here to stay, and more and more homebuyers are looking for properties outfitted with the latest in home automation. Whether it’s an app that flicks on the lights or a thermostat that self-adjusts, integrating this technology can save you from inconvenience, more money and more time.

3. Security – You can’t put a price on safety. From keypad and silent alarms to cameras and motion detectors, a home security system is well worth the expense. Consult a home security expert in your area to determine which system will be most beneficial for your home.

These three upgrades are ideal for any homeowner. Keep these in mind the next time you invest in improving your home—they will be well worth it!

Source: Briggs & Stratton

Published with permission from RISMedia.


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