Interest Rates Up Slightly Last Week; Interesting Week Ahead

Rates up for the 3rd time in 4 weeks

After last weeks big drop things reversed course this week as it became clear that our politicians are nowhere near resolving the looming threat of a default by the United States. Investors are nervous, and who isn’t, with the opening of stock markets across the world a few hours away it should make for a very interesting week with some wild swings in rates and everything else.

This week the average overnight rate for a fixed 30 year mortgage as reported by jumped to 4.53% up a full 5 basis points from the 4.48% we stood at a week ago. The benchmark 15 year fixed rate also increased by 3 basis points last week to 3.66% from 3.63% while the benchmark 5/1 adjustable rate mortgage bucked the trend and actually dropped 3 basis points to 3.02% from 3.05% just seven days ago. Volatility is in the air this week and it will be very interesting how the markets react to Washington’s inability to act.

It is time for America, and both our Republican and Democratic representatives to make a drastic change in our spending patterns and it appears the chickens have finally come home to roost. This fiscal responsibility is long overdue and the rest of the world is watching very closely as the next 9 days unfolds. It will be interesting to watch and be ready for some volatility in all of the markets in the coming weeks.

“Results Driven Real Estate” is dedicated to providing our readers the most timely information and analysis of the metrics affecting the real estate market. It is this passion for our business and our customers that makes dealing with us different; we care not about closing the deal but ensuring we are helping each client make the right decision based on their individual circumstances.  Again, if you are going to borrow money to purchase your home NOW is the time and I beg you not too wait too long. If we can be of help in any way just give Tom a call at 561 308-0175 or send an e-mail to and we are most happy to serve you in any way that we can.

Always at Your Service,

Tom Priester  e-PRO
“Results Driven Real Estate”

Keller Williams Realty
561 308-0175


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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… 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 You can always pay more and receive less but that just would not make any sense. Would it?

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