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 Hold Steady

November 20, 2015 1:03 am

Average fixed mortgage rates remain largely unchanged as analyst expectations turned from world events to the Federal Open Market Committee’s (FOMC) October minutes, Freddie Mac recently reported. According to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®), the 30-year fixed-rate mortgage (FRM) averaged 3.97 percent with an average 0.6 point; the 15-year FRM averaged 3.18 percent with an average 0.5 point.

"Treasury yields stabilized about 5 basis points below last week's level as the market shrugged off economic data and world events and turned its attention to the minutes of the October FOMC meeting,” says Freddie Mac Chief Economist Sean Becketti. “In response, the 30-year mortgage rate ticked down a basis point to 3.97 percent. The FOMC minutes were couched in careful Fed-speak, and early market reaction was mixed, with most analysts reading their own expectations into the minutes."

Additionally, the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.98 percent with an average 0.5 point, and the 1-year Treasury-indexed ARM averaged 2.64 percent with an average 0.3 point.

Source: Freddie Mac

Published with permission from RISMedia.


Renters Have Spoken: Apartment Dwellers Favor Walkability, Concierge-Style Service

November 20, 2015 1:03 am

Just shy of 40 million Americans call an apartment home—and according to recently released research, many are seeking amenities rivaling that of a five-star hotel. Amenities found in the research, compiled by the National Multifamily Housing Council/Kingsley Associates 2015 Apartment Resident Preferences Survey, include walkable neighborhoods, package pick-up services and online rental payment options.
“There have been 1.6 million new renter households created in the past five years,” says Rick Haughey, vice president of Industry Technology Initiatives with the National Multifamily Housing Council. “Many of these new residents are making a lifestyle choice to rent instead of buy and are thus looking for personalized services and amenities. The apartment industry is stepping up to provide those experiences.”
While many factors are considered during an apartment search, some of the most important concern location convenience and community amenities, the research found. Apartment renters have strong opinions about walking versus driving to their regular destinations:

• Walking wins over driving for getting to the grocery store (by 7 percentage points);
• Walking wins over driving for getting to a restaurant or bar (by 6 percentage points for both); and
• Walking wins over driving for getting to public transit (by 19 percentage points).

Conversely, driving is preferred over walking when:

• Traveling to work (by 24 percentage points);
• Traveling to school (by 7 percentage points); and
• Traveling to a college or university (by 6 percentage points).

Package pick-up services are also favored by apartment renters, according to the research. Currently, 88 percent of management offices accept packages for residents, and 72 percent of residents want a package storage or holding area. Eighty-seven percent of respondents say they are not willing to pay for a package locker, but if there were a charge, they would expect to pay around $20 per month.
In addition, 78 percent of apartment renters would like to the option to pay rent online, and 63 percent were interested in paying rent with a credit card.
Source: NMHC

Published with permission from RISMedia.