Interest Rates Down Again for the 3rd Time in 4 Weeks

Rates drop over 10 basis points for the 3rd time in a month!

We began 2011 with a slight increase in the overnight rate on a 30 year fixed mortgage and since then it has been all downhill. As of this morning, the average overnight rate for a 30 year fixed rate sits at 4.76% down another 10 full basis points from where we were a week ago at 4.86%. This is the second significant weekly drop in a row bringing us back down from the 5.02% on January 2nd. Remember this is the average overnight rate and those with good credit will still be able to lock in rates below these averages.

The benchmark 15 year fixed rate also decreased last week to 4.06% from 4.15% while the benchmark 5/1 adjustable rate mortgage moved to the downside to 3.43% from 3.62% the previous week. 

Most economists feel strongly that the Fed won’t be raising interest rates anytime soon and that is mainly due to the fact that while we are seeing some steady growth in the economy, unemployment has remained stubbornly high. It appears that most signs point to unemployment staying above 9% throughout much of the year.

We take great pride here at “Results Driven Real Estate” in providing our clients the very highest level of service available in the industry. If we can be of assistance in any way with questions you may have about your real estate goals please feel free to contact me at your convenience for a complimentary consultation.
 

Always at Your Service,

 
Tom Priester   e-PRO
“Results Driven Real Estate”
 
Keller Williams Realty
561 308-0175
tom@tompriester.com

http://www.tompriester.com

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Tom Priester

After spending years among the top individual performers at one of Palm Beach County’s largest and most successful real estate brokerages, Tom Priester knew there was another way to do real estate. A better way. Real estate services focused on the customer. Like the old days when the customer truly was #1. He tired of listening to why he should be going out to have his customers sign one sided buyers’ brokerage agreements. He tired of hearing how he should be selling customers why paying higher commissions, like 7% and 8%, was to their benefit. He tired of hearing how he should sell his clients on why they should be paying hundreds of dollars in additional “transaction fees”. The business had slid way too far from being focused on the customer. His customer. So he decided the time was right to be different…..by design. To start his own unique boutique real estate firm truly focused on his customers. They will now have access to a process focused on them. Only the best marketing techniques to sell their homes. No cutting corners. Commission structures based on his clients needs not his. Paradise Sharks was born out of Tom’s passion to return this business to the customer. Where it belongs. If you want a real estate experience that benefits you, just give Tom a call at 561 308-0175 or send him an e-mail at tom@paradisesharks.com. You can always pay more and receive less but that just would not make any sense. Would it?

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