November Roundup: Rates Fall For the First Time in Three Months
In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage (FRM) averaged 6.28 percent, with an average 0.6 point, for the week ending November 25, 2005, down from the previous average of 6.37 percent. Last year at this time, the 30-year FRM averaged 5.72 percent.
The average for the 15-year FRM this week is 5.81 percent, with an average 0.6 point, also down from 5.90 percent. A year ago, the 15-year FRM averaged 5.15 percent
Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.75 percent, with an average 0.8 point, down from 5.86 percent. There is no annual historical information for last year since Freddie Mac only began tracking this mortgage rate at the start of this year.
One-year Treasury-indexed ARMs averaged 5.14 percent, with an average 0.7 point, down from 5.20 percent. At this time last year, the one-year ARM averaged 4.27 percent.
"Lower oil prices -- at least compared to the last several months -- have helped to alleviate some of the inflation fears that the market has been experiencing lately," said Frank Nothaft, Freddie Mac vice president and chief economist. "That helped to reduce upward pressure on interest rates last week, allowing mortgage rates to ease a bit for the first time in 13 weeks."
"This should be a quiet week as the nation officially begins the holiday season, but next week existing and new home sales figures, which are expected to be lower, will be released. Consumer Confidence for November, which is expected to be up, will also come out next week. And these figures may well influence the direction of mortgage rates over the next few weeks."
Timely Gifts
There always seems to be a time or event where gifts are both appropriate and appreciated, celebrations such as birthdays, holidays, housewarmings and other occasions. Alas, it's not always easy to give gifts -- that lovely plant we all admire may well cause someone else to itch.
What to do? Here are three winners in all price ranges that most people will greatly value:
Homeowners insurance policies often cover far more than a home and its contents. If you have a child entering college he or she may well have personal property protection under your household policy. Policy coverages differ, but in many cases homeowners automatically have personal property protection equal to 50 percent of the property's total value -- and some policies go as high as 70 or 75 percent. A college student living in a dorm is often considered a "resident" within your household for insurance purposes. In the event of theft, a portion of your personal property coverage can apply to the student. For details, speak with your insurance agent.
As you pull out those holiday storage boxes filled with decorative goodies and embark on your seasonal embellishing, take extra care as you hang those outdoor lights, choose that tree, and spark those holiday candles. In any given year, about 8,700 people go to the emergency room because of holiday-related injuries, according to the U.S. Consumer Product Safety Commission. Additionally, Christmas trees are the cause of about 400 fires a year, resulting in 20 deaths, 70 injuries, and an average of $15 million in property loss and damage. Trees aren't the only cause of holiday fires: Some 10,000 candle-related fires are also reported each year. Here are some safety tips to keep in mind as you begin your holiday decorating:
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College Students And Homeowners Insurance
Tips For A Safe Holiday Season
Your Christmas tree should be green.
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Patz McMillan
E-mail: patzmcmillan@remax.net Web: http://www.patzmcmillan.com 604-727-8227 |
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RE/MAX Crest Realty 604-684-6155 #2 - 1012 Beach Ave. Vancouver, B.C. V6E 1T7 |