Home-mortgage rates held stable this week, due to news that the economy improved and inflation remained in check at the end of last year, Freddie Mac's chief economist said on Thursday.
Rates on the 30-year fixed-rate mortgage averaged 4.81% for the week ended Feb. 3, up just slightly from 4.80% last week, according to Freddie Mac's weekly survey of conforming mortgage rates. The mortgage averaged 5.01% a year ago.
Fifteen-year fixed-rate mortgages averaged 4.08%, down slightly from 4.09% last week. The mortgage averaged 4.40% a year ago. Meanwhile, five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.69% this week, down slightly from 3.70% and the year-ago 4.27%. And one-year Treasury-indexed ARMs averaged 3.26%, unchanged from last week. The ARM averaged 4.22% a year ago.
To obtain the rates, the fixed-rate mortgages required payment of an average 0.8 point, the five-year ARM required an average 0.7 point and the one-year ARM required an average 0.6 point. A point is 1% of the mortgage amount, charged as prepaid interest.
In the fourth quarter, the economy grew at a 3.2% annualized rate, compared with 2.6% in the third quarter, and was led by a 4.4% gain in consumer spending. In addition, the core price index for consumer expenditures rose by an annualized rate of 0.4%, which was the smallest increase ever since records began in 1959, said Frank Nothaft, vice president and chief economist of Freddie Mac, in a news release. Housing was the most affordable on record in the fourth quarter of 2010, according to National Association of Realtors figures dating back to 1971, Mr. Nothaft added.
Article reprinted from Wall Street Journal online 2/3/2011
written by Amy Hoak
Showing posts with label cranford real estate. Show all posts
Showing posts with label cranford real estate. Show all posts
Thursday, February 3, 2011
Friday, November 12, 2010
Just Listed!
111 Herning Avenue ~ Cranford
Location, Location, Location!
Charming Cranford Colonial featuring 3 Bedrooms and 2 Full Baths!, Hardwood Floors, Formal Dining Room, Living Room with Wood Burning Fireplace, 3 Season Porch, Partially Finished Basement, Newer Windows, Vinyl Siding, Deck and Fenced in yard. Near Bike Path, Parks and Schools! Asking $459,000
http://www.seetheproperty.com/67679
Location, Location, Location!
Charming Cranford Colonial featuring 3 Bedrooms and 2 Full Baths!, Hardwood Floors, Formal Dining Room, Living Room with Wood Burning Fireplace, 3 Season Porch, Partially Finished Basement, Newer Windows, Vinyl Siding, Deck and Fenced in yard. Near Bike Path, Parks and Schools! Asking $459,000
Just Listed!
203 Scherrer Street ~ Cranford
Just Listed! Wonderful Northside 4 Bedroom, 2 Full Bath Colonial located on quiet dead end street, features include updated Eat in Kitchen, Formal Dining Room, double closets in 3 of the 4 bedrooms, Hardwood Floors, Central Air Conditioning, Newer Windows & Vinyl Siding,Unfinished Basement with HIGH Ceilings ideal for Finishing, 1 Car Attached Garage, Mud room, Patio and Fenced in Yard Complete this home! It is a Must See, Near Schools, Park and NYC Transportation! Asking $519,900 call Lisa Stafford today (908)337-2021
http://www.seetheproperty.com/67842
Just Listed! Wonderful Northside 4 Bedroom, 2 Full Bath Colonial located on quiet dead end street, features include updated Eat in Kitchen, Formal Dining Room, double closets in 3 of the 4 bedrooms, Hardwood Floors, Central Air Conditioning, Newer Windows & Vinyl Siding,Unfinished Basement with HIGH Ceilings ideal for Finishing, 1 Car Attached Garage, Mud room, Patio and Fenced in Yard Complete this home! It is a Must See, Near Schools, Park and NYC Transportation! Asking $519,900 call Lisa Stafford today (908)337-2021
Just Listed!
New Cranford Listing
Adorable 3 Bedroom Cape Cod located in desirable Indian Village Section of Cranford. Not your typical floor plan. Expanded Living room, with charming archway to a true Formal Dining room, 1st floor Master Bedroom addition, Gleaming Hardwood Floors, Eat in Kitchen, Finished Basement, 2 Large bedrooms on the second floor with a walk in closet perfect for second bath. 1 Car Attached garage, fenced in yard, near park schools and all major highways. A Must See! call lisa Stafford for appointment (908)337-2021.
Adorable 3 Bedroom Cape Cod located in desirable Indian Village Section of Cranford. Not your typical floor plan. Expanded Living room, with charming archway to a true Formal Dining room, 1st floor Master Bedroom addition, Gleaming Hardwood Floors, Eat in Kitchen, Finished Basement, 2 Large bedrooms on the second floor with a walk in closet perfect for second bath. 1 Car Attached garage, fenced in yard, near park schools and all major highways. A Must See! call lisa Stafford for appointment (908)337-2021.
Monday, September 21, 2009
New Listing
Just Listed
Elegant Georgian Colonial featuring 5 Bedroom Suites and 4.5 Luxurious baths! Step back in time with all the modern conveniences. New High Velocity Central Air, Hardwood Floors, Gourmet Eat in Kitchen with Breakfast area, Formal Living room with Gas Fireplace, family Room/ Den, Formal Dining Room, Finished Basement offer additional living space, Impressive park like property with under ground sprinklers, extensive landscaping, pond and completely fenced in. Two Car Garage with circular drive, and Mountainside low taxes! Truly a must see home.
Elegant Georgian Colonial featuring 5 Bedroom Suites and 4.5 Luxurious baths! Step back in time with all the modern conveniences. New High Velocity Central Air, Hardwood Floors, Gourmet Eat in Kitchen with Breakfast area, Formal Living room with Gas Fireplace, family Room/ Den, Formal Dining Room, Finished Basement offer additional living space, Impressive park like property with under ground sprinklers, extensive landscaping, pond and completely fenced in. Two Car Garage with circular drive, and Mountainside low taxes! Truly a must see home.
Call Lisa Stafford to schedule your private viewing (908)337-2021
New Listing
Great Opportunity to Own in Cranford!
Just Listed 2 bedroom 1 Bath Duplex. Features include Hardwood Floors, Updated Kitchen and bath, First floor addition currently being used as a Dining room, but could be a great Family room. First floor Office, Large yard with patio, located on a cul de sac, close to schools and all major hwys. Off street parking available. Asking $274,900 Call Lisa Stafford today for your private viewing (908)337-2021.
Just Listed 2 bedroom 1 Bath Duplex. Features include Hardwood Floors, Updated Kitchen and bath, First floor addition currently being used as a Dining room, but could be a great Family room. First floor Office, Large yard with patio, located on a cul de sac, close to schools and all major hwys. Off street parking available. Asking $274,900 Call Lisa Stafford today for your private viewing (908)337-2021.
Economic Update
Economic Week in Review: Is the recession over?
Federal Reserve Chairman Ben Bernanke's speech declaring the recession “likely over” began a week of fairly optimistic economic reports. Producer prices rose, business inventories dropped, and retail sales reached their highest level in three years. While the economy may have turned a corner, it remains weak. It's unclear whether the consumer spending momentum will continue given the end of incentive programs such as Cash for Clunkers and a still high unemployment rate. For the week ended September 18, the S&P 500 Index rose 2.5% to 1,068.30 (for a year-to-date total return of about 20.2%). The yield of the 10-year U.S. Treasury note rose 15 basis points to 3.49% (for a year-to-date increase of 124 basis points).
Producer prices rise sharply
Producer prices for finished goods rose 1.7% in August from –0.9% a month earlier, largely because of higher energy prices. The energy goods index jumped 8.0% in August—the largest monthly increase since November 2007—with a spike in gasoline, home heating oil, and liquefied petroleum prices. Excluding food and energy, the price of core finished goods increased 0.2%, offsetting a decline in July. The rise in the Producer Price Index last month is expected to ease some economists' fear of deflation.
Clunkers propel retail sales
Retail sales climbed 2.7% in August, the highest level in three years, far outstripping analysts' expectations. Sales were driven largely by the popular Cash for Clunkers program, which boosted auto sales for the month by 10.6%. Excluding autos and energy, retail sales rose 0.6% in August. There was a broad-based increase in sales across many retail outlets ranging from apparel to sporting goods. The only weak spots were furniture and building supply stores.
New-home construction jumps
New-home construction rose at an annual rate of 1.5% in August to 598,000 units compared with a month earlier. The increase in housing starts came from a spike in multifamily home constructions. After five straight months of gains, single-family starts declined 3.0% in August from July. Single-family homes are the largest segment of the residential market. While total housing construction permits rose 2.7% in August, housing completions—which have yet to reach bottom—fell 5.5%. On a regional basis, the Northeast reported the largest number of housing starts in August, while the South was the biggest laggard.
The economic week ahead
The week begins with a report on The Conference Board's index of leading indicators (Monday). On Wednesday the Federal Open Market Committee (FOMC) will release minutes from its meeting, while Thursday brings reports on jobless claims and existing-home sales. Data on durable goods and new-home sales will be out Friday.
courtesy of Ron Melao
Ron Melao
RJR Mortgage Company, LLC.
908.709.9070(p)
Federal Reserve Chairman Ben Bernanke's speech declaring the recession “likely over” began a week of fairly optimistic economic reports. Producer prices rose, business inventories dropped, and retail sales reached their highest level in three years. While the economy may have turned a corner, it remains weak. It's unclear whether the consumer spending momentum will continue given the end of incentive programs such as Cash for Clunkers and a still high unemployment rate. For the week ended September 18, the S&P 500 Index rose 2.5% to 1,068.30 (for a year-to-date total return of about 20.2%). The yield of the 10-year U.S. Treasury note rose 15 basis points to 3.49% (for a year-to-date increase of 124 basis points).
Producer prices rise sharply
Producer prices for finished goods rose 1.7% in August from –0.9% a month earlier, largely because of higher energy prices. The energy goods index jumped 8.0% in August—the largest monthly increase since November 2007—with a spike in gasoline, home heating oil, and liquefied petroleum prices. Excluding food and energy, the price of core finished goods increased 0.2%, offsetting a decline in July. The rise in the Producer Price Index last month is expected to ease some economists' fear of deflation.
Clunkers propel retail sales
Retail sales climbed 2.7% in August, the highest level in three years, far outstripping analysts' expectations. Sales were driven largely by the popular Cash for Clunkers program, which boosted auto sales for the month by 10.6%. Excluding autos and energy, retail sales rose 0.6% in August. There was a broad-based increase in sales across many retail outlets ranging from apparel to sporting goods. The only weak spots were furniture and building supply stores.
New-home construction jumps
New-home construction rose at an annual rate of 1.5% in August to 598,000 units compared with a month earlier. The increase in housing starts came from a spike in multifamily home constructions. After five straight months of gains, single-family starts declined 3.0% in August from July. Single-family homes are the largest segment of the residential market. While total housing construction permits rose 2.7% in August, housing completions—which have yet to reach bottom—fell 5.5%. On a regional basis, the Northeast reported the largest number of housing starts in August, while the South was the biggest laggard.
The economic week ahead
The week begins with a report on The Conference Board's index of leading indicators (Monday). On Wednesday the Federal Open Market Committee (FOMC) will release minutes from its meeting, while Thursday brings reports on jobless claims and existing-home sales. Data on durable goods and new-home sales will be out Friday.
courtesy of Ron Melao
Ron Melao
RJR Mortgage Company, LLC.
908.709.9070(p)
Saturday, July 11, 2009
Open House July 12, 2009 1-4pm
90 Belmont Avenue
Cranford, NJ 07016
Open Sunday 7/12/2009 1-4pm
Beautiful 4 Bedroom, 2.5 Bath Cranford Colonial. New Granite Eat in Kitchen, Stainless Steel Appliances, Center Island, Indoor BBQ Grill, Large Family Room, 3 Fireplaces, ( Family Room, Living Room/Dining Room & Master Bedroom) Balcony off the Master Bedroom over looking back yard, Central Air, Partially Finished Basement, 2 Car garage and more. Dir: Riverside to Kensington to Belmont.
Offered at $749,000.
Call Lisa Stafford for additional information (908) 337-2021
Subscribe to:
Posts (Atom)