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 Retreat toward Year Low

February 29, 2016 2:03 am

Mortgage rates reversed course last week, falling back to the second-lowest point of the year. According to Bankrate.com’s weekly report, the benchmark 30-year fixed mortgage rate declined to 3.80 percent, making the monthly payment on a $200,000 loan $931.91.

The average 15-year fixed mortgage rate slipped as well, to 3.09 percent. The larger, jumbo 30-year fixed mortgage rate fell to 3.70 percent. The 5-year adjustable mortgage rate decreased to 3.24 percent, and the 10-year adjustable mortgage rate lowered to 3.61 percent.

The rate retreat can be attributed to lowering oil prices, stock indices and bond yields, which unwound much of the previous week’s rate increase.

Source: Bankrate.com

Published with permission from RISMedia.


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Flood Season: 3 Tips to Prevent Water Damage

February 29, 2016 2:03 am

Homeowners spend thousands on flood damage repair each year, often hoping for minimal damage after it has already occurred. But wishful thinking can end up costing more money in the long run, says Michael Petri, owner of Brooklyn-based Petri Plumbing and Heating, Inc.

"Homeowners know that there is a chance for flood damage during this season, but often think that this chance of damage will miss them or won't affect their home,” says Petri.

An ounce of prevention is worth a pound of cure, and with a few small-scale actions, homeowners can prevent large-scale water damage.

"Taking the time to prepare a home for potential flooding helps reduce additional expenses caused by water damage, so it's important to take preventative action," adds Chris Petri, assistant operations manager at Petri.

The Petris recommend the following preventative measures:

1. Remove debris from your home promptly.
Regularly inspect gutters and drains for leaves, sticks, or other debris that may have piled up. Remove debris from gutters to allow rain to properly flow through.

2. Reduce runoff from your home that can cause flooding.
Collecting water in rain barrels and cisterns can keep rain from accumulating in certain areas of your home.

3. Seal openings or cracks in your home.
Hire a professional plumber to inspect your home thoroughly for potential sources of water damage. If cracks or other openings are found, seal them as soon as possible to lessen the chance of damage.

Source: Petri Plumbing and Heating, Inc.

Published with permission from RISMedia.


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