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 Favorable for Spring Homebuyers

March 11, 2016 2:15 am

Buyers in the market for a home this spring can expect lower mortgage rates across the board.

According to the Freddie Mac’s Primary Mortgage Market Survey® (PMMS®), the 30-year fixed-rate mortgage (FRM) stands at 3.68 percent, and the 15-year FRM stands at 2.96 percent.

“The 10-year Treasury yield ended the survey week exactly where it started; however the solid February employment report boosted the yield noticeably on Friday and Monday,” explains Sean Becketti, Freddie Mac’s chief economist. “Our mortgage rate survey captured the impact of this temporary increase in yield, and the 30-year mortgage rate rose 4 basis points to 3.68 percent. This marks the second increase this year. Nonetheless, the mortgage rate remains 33 basis points lower than its end-of-2015 level.”

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) stands at 2.92 percent, according to the survey.

Source: Freddie Mac

Published with permission from RISMedia.


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Consumer Protection Week: IRS Scam Warning

March 10, 2016 2:15 am

Around this time every year, the U.S. Consumer Financial Protection Bureau’s (CFPB) National Consumer Financial Protection Week (consumerfinance.gov/ncpw) promotes heightened awareness of consumer rights.

According to the IRS—one of the agencies observing the week this year—one of the most recent and widespread issues affecting consumers are phishing and malware incidents. The IRS has seen an approximate 400 percent surge in these cases so far this tax season.

Consumers affected by this issue reported receiving emails designed to trick them into thinking they are official communications from the IRS or others in the tax industry, including tax software companies.  The phishing scheme asked them about a wide range of topics, including requesting information related to refunds and filing status, confirming personal information, ordering transcripts and verifying PIN information.

Variations of these scams have also been reported via text messages. When people click on these email links, they are taken to sites designed to imitate an official-looking website, such as IRS.gov. The sites ask for Social Security numbers and other personal information. The sites also may carry malware, which can infect computers and allow criminals to access your files or track your keystrokes to gain information.

The IRS urges people not to click on these links. Instead, send the email to phishing@irs.gov.

Published with permission from RISMedia.


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