Long- and Short-Term Mortgage Rates Fall Again This Week

WOW!

McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.84 percent with an average 0.7 point for the week ending May 20, 2010, down from last week when it averaged 4.93 percent. Last year at this time, the 30-year FRM averaged 4.82 percent. Once again, the 30-year FRM has not been lower since the week ending December 10, 2009, when it averaged 4.81 percent.

 

The 15-year FRM this week averaged 4.24 percent with an average 0.7 point, down from last week when it averaged 4.30 percent. A year ago at this time, the 15-year FRM averaged 4.50 percent. The 15-year FRM has not been lower since Freddie Mac started tracking the 15-year FRM in August of 1991.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.91 percent this week, with an average 0.6 point, down from last week when it averaged 3.95 percent. A year ago, the 5-year ARM averaged 4.79 percent. This breaks last week's record and, again, the 5-year ARM has not been lower since Freddie Mac started tracking the 5-year ARM in January of 2005.

The 1-year Treasury-indexed ARM averaged 4.00 percent this week with an average 0.6 point, down from last week when it averaged 4.02 percent. At this time last year, the 1-year ARM averaged 4.82 percent. The 1-year ARM has not been lower since the week ending October 28, 2004 when it averaged 3.96 percent.

"Mortgage rates eased back once again this week to the lowest level of the year," said Frank Nothaft, Freddie Mac vice president and chief economist. "Low mortgage rates, coupled with the homebuyer tax credit, helped strengthen the housing market in the first four months of the year. New construction on one-family homes rose for the fourth consecutive month in April to an annualized rate of nearly 0.6 million units and represented the strongest pace since August 2008. Three of the four Census regions showed increases, led by a 14.8 percent jump in the South.

"Moreover, homebuilder confidence rose for the second straight month in May to the highest level since August 2007, according the National Association of Home Builders/Wells Fargo Housing Market Index .

Published: May 21, 2010

 

 

Posted via email from TexasHomesDuo's Exit Realty NW San Antonio posterous

Facebook | Carol J Higdon-Woodward

Facebook | Carol J Higdon-Woodward

Allstate Center Brings Jobs in May

SAN ANTONIO (San Antonio Express-News) – Insurer Allstate Corp. will begin operating a 75,000-sf customer information center in May on the northwest side that will create 600 jobs.

The $11.6 million facility at The Oaks at University Business Park at 12238 Silicon Dr. will handle direct sales of insurance products and provide after-hours support for Allstate agencies in Texas and across the country.

The new jobs will pay approximately $13 to $15 per hour, or $27,000 to $31,200 annually. The average wage in San Antonio is $39,000.

The city offered Allstate a six-year, 65 percent property tax abatement worth $232,787, and the city's Economic Development Incentive Fund will provide up to $30,000 in grants to offset permitting and development fees. The company will also receive $1.1 million from the Texas Enterprise Fund.

Additionally, the county has proposed a 40 percent property tax abatement for six years.

Allstate has been nominated for a state enterprise project designation, which will allow the insurer to receive states sales tax refunds valued at $1.25 million over five years for construction and equipment purchases.

 

 

Posted via email from TexasHomesDuo's Exit Realty NW San Antonio posterous

Alamo City goes Green!

SAN ANTONIO (San Antonio Express-News) – As part of the Mission Verde initiative, the city has five projects in design to be San Antonio’s first LEED-certified city buildings.

The new LEED buildings will include the Parman Branch Library in Stone Oak, fire stations near The Dominion and the Toyota plant, the police and fire headquarters planned for the site of an old downtown Kmart and a new emergency call center at Brooks City-Base.

Each will be designed for silver certification from the U.S. Green Building Council’s Leadership in Energy and Environmental Design program.

The city is also conducting energy audits of 108 municipal buildings to determine which upgrades will have the biggest energy impact.

Mission Verde's goal is to have carbon-neutral homes by 2030.

 

 

Posted via email from TexasHomesDuo's Exit Realty NW San Antonio posterous

Housing is a Great Long Term Investment!-It's Up 46% since 2000!

Click Here!

 

 

Posted via email from TexasHomesDuo's Exit Realty NW San Antonio posterous

Top Listing Agents of 2009

We just want to Thank Each and Everyone of you that was involved this past year with helping us become the "Top Listing Agents in 2009". We know that your referrals are the reason we reached the top. Thanks again!!

Housing Market Trends 2010

by Jennifer Hiller-Express News

House hunters watch new listing come onto the market the way the paparazzi watch Britney Spears.

What do real estate professionals keep their eyes on?

This year, they're looking at three things that could have a big impact on the San Antonio housing market: the federal tax credit for home buyers, any movement in mortgage interest rates and local job market.

Click here to read the full story!