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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 Tick Lower

April 10, 2015 1:03 am

Average fixed mortgage rates moved lower this week following a weaker than expected jobs report in March, according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®). The 30-year fixed-rate mortgage (FRM) averaged 3.66 percent, down from 3.70 percent the previous week. The 15-year FRM averaged 2.93 percent, down from 2.98 percent the previous week.

"Mortgage rates fell across the board following last week's disappointing employment report,” explains Len Kiefer, deputy chief economist, Freddie Mac. “The U.S. economy added 126,000 new jobs in March, well below market expectations of 247,000 jobs. We did see some uptick in wages, as average hourly earnings increased seven cents for the month, and are up 2.1 percent over the year. Meanwhile, jobless claims fell sharply to 268,000 this week, much lower than market expectations of 285,000."

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.83 percent this week, down from 2.92 percent the previous week. The 1-year Treasury-indexed ARM averaged 2.46 percent, unchanged from the previous week.

At this time last year, the 30-year FRM averaged 4.34 percent; the 15-year FRM averaged 3.38 percent; the 5-year ARM averaged 3.09 percent; and the 1-year ARM averaged 2.41 percent.

Source: Freddie Mac

Published with permission from RISMedia.


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Solar-plus-Battery Could Power Homes in the Future

April 10, 2015 1:03 am

Over the next 10 to 15 years, grid-connected solar-plus-battery systems may become an increasingly cost-effective option for customers, according to a recent report by the Rocky Mountain Institute (RMI) and HOMER Energy. No matter how expensive electricity gets, customers that invest in these grid-connected systems can contain their electricity costs and see significant savings on their monthly utility bill.

“Today’s electricity system is at a metaphorical fork in the road. Down one path are pricing structures, business models and regulatory environments that favor eventual grid defection,” says Jules Kortenhorst, CEO, RMI. “Down another road, those same factors are appropriately valued as part of a transactive grid with lower system-wide costs and the foundation of a reliable, resilient, affordable and low-carbon grid of the future in which customers are empowered with choice.”

Solar-plus-battery systems will likely play a central role in the grid of the future, but exactly what role they’ll play has yet to be determined.

Source: RMI

Published with permission from RISMedia.


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