Interest Rates Move Lower…….Again

The “see-saw” on interest rates continue.

For the 7th straight week the tug of war on interest rates goes back and forth. Up one week, down the next and it has been that way since the beginning of February. No direction as the Fed has reduced their debt purchases by 30 billion dollars a month but the wreck that is the world economy has people still buying the “safe” American bond instruments.

Interest Rates

It is still our belief that interest rates cannot go that far north from these levels as there is just no way we can pay the interest on out debt if rates go much higher. And there is no doubt there is not a much more significant factor to the real estate market than the cost of money. We continue to monitor rates but the up and down, up and down, up and down is getting downright comical.

Today the average overnight rate on a conforming 30 year mortgage according to Bankrate sits at 4.33% down 9 basis points from week ago numbers. If I was a betting man I would say rates will be up this week but betting on something that makes as little sense as interest rates do these days would be a big gamble. Always interesting, always fun.

Fins up…………

Tom Priester
Principal Broker

Paradise Sharks Real Estate
Direct Line 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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