Comedy Night
Friday, January 6, 2012
7:30 p.m.
Lesher Center for the Arts • Walnut Creek$35 • $75 premium seating
www.lesherartscenter.orgThanks to last year's rousing success, ARF has once again added Comedy Night to the upcoming Stars to the Rescue weekend schedule. Hosted by Mark Pitta, the evening will star funny men Dana Carvey and George Lopez. Give the gift of laughter this holiday season and help the animals too!
Emmy-award winning comedian Dana Carvey was a six-year repertory member of Saturday Night Live. He has received widespread praise for his uncanny and exaggerated comedic impersonations of political figures and is best known for his characters the Church Lady; Hans, of the Hans and Franz bodybuilding duo; Garth, Wayne Campbell's (Mike Myers) "Excellent Cohost" on the immensely popular sketch "Wayne's World," and Weekend Update's Grumpy Old Man.
In addition to his television career, Carvey's transfer from the small screen to the large screen included roles in The Road to Wellville, Clean Slate, Trapped in Paradise, This is Spinal Tap Opportunity Knocks, and the blockbuster hits Wayne's World and Wayne's World 2.
If you were to look up the definition of the word "versatility" in a dictionary of performers, chances are you'd find the name BRIAN COPELAND somewhere near the top. Copeland's quick wit and probing interview style earned him a five year position as co-host of San Francisco Fox affiliate KTVU's top rated breakfast program Mornings on 2. His biting social commentary segment Copeland's Corner appeared daily on KTVU's Noon News prompting San Francisco Examiner columnist Rob Morse to call Copeland 'the best commentator on television'. This distinction led to a weekly national segment on NBC's long- running late night show Friday Night called The World According to Copeland.
In addition to his work in broadcasting and on the comedy stage, Copeland is a serious writer with articles appearing in national newspapers and magazines.
Actor, comedian George Lopez has built a successful career by finding the humor in his difficult childhood and in the Mexican-American community in general. Abandoned by his mother, he was raised by his grandmother who paid him little attention. Lopez transformed his painful experiences into material for his stand up comedy act.
By the late 1980s, Lopez was a successful comedian, playing clubs around the country and appearing on television shows and comedy specials. He made the jump to films in the 1990s with comedies such as Ski Patrol (1990) and Fatal Instinct (1993). In 2002, Lopez became one of the few Latinos to star in a television comedy series.
In addition to his television career, Lopez continues to perform as a stand up comic and to record comedy albums.
Mark Pitta is a national headliner coming from the fervent San Francisco comedy scene of the 1980s. He appeared on The Tonight Show with Johnny Carson, making subsequent appearances with Jay Leno, hosted FOX’s Totally Hidden Video and NBC’s Friday Night Videos, and made guest appearances on Mad About You and Third Rock From the Sun. In the 1990s, Mark became the roving entertainment reporter/host for the top rated morning show in the San Francisco Bay Area.
A favorite on the comedy club, college, and corporate circuits, Mark has also opened for Chris Isaak, Celine Dion, Vanessa Williams, Paul Anka, Kenny Rogers, Olivia Newton John, Smokey Robinson, Big Bad Voodoo Daddy, and Rick Springfield. The prestigious ELAN Awards has chosen Mark as Master of Ceremonies five times, and Anthony Robbins has employed Mark to liven up his financial seminars.
Individual tickets priced at $35 & $75
and may be purchased by calling
925.943.SHOW or online at www.lesherartscenter.org.
Friday, December 30, 2011
Save Animals by Watching Comedy at Walnut Creeks Lesher Center
Thursday, December 29, 2011
Walnut Creek's Apartment Boom and Redevelopment of Broadway Plaza in Top 8 Stories of 2011
2. Redevelopment of Broadway Plaza
The ongoing proposed redevelopment of Broadway Plaza made headlines this year ,but
the story is nowhere near finished. Mall giant Macerich Co., which owns the outdoor mall, reached out to the community this year for ideas on what people want to see for the next 50 years at the center. After community gatherings and meetings with the City Council, Macerich continues to work on a master plan for the center.AdvertisementBut it will likely include a maximum addition of 300,000 square feet of retail stores and, perhaps, 200 residential units. Macerich also seeks to close off most of Broadway Plaza Street to traffic and create a pedestrian promenade and plaza. This would require the city to legally vacate the street.
And parking is king in the plan, with Macerich officials saying they will have the required number of parking spaces, plans show a labyrinth of underground parking garages.
City leaders cautioned developers in November that abandoning a public street and agreeing to a 25-year development deal will cost Macerich, who will need to come to the table with some "community benefits." The final master plan should be in front of the City Council for approval early next year.
3. Apartments, apartments, apartments
Redevelopment -- and even development -- was again a big trend in Walnut Creek during the past year. Several new apartment complex projects were approved or presented.
Projects in the pipeline include:
A 300-unit Paragon Apartments to be built on the former CVS headquarters on Civic Drive was approved A 126-unit North Main Apartments complex on the former Walnut Creek Motor Lodge was approved A 107-unit Arroyo Apartment project across from Vice was presented A plan for the 600 units at the Walnut Creek BART Transit Village, where retail and commercial would also be built, continues to move forward. An environmental report expected in February. A pre-application has been made for a 154-mixed-use project at the Scotts Valley Bank site on California Boulevard And while it may be years in the distance, Safeway declared that it wants to develop its 23 acres in the Shadelands Business Park. The company wants to build a new store and allow other retail. To decide the best use for the land the city created a committee to create a specific plan for development.
Monday, December 19, 2011
Walnut Creek downtown is bouncing back - Walnut Creek Real Estate News
Walnut Creek downtown is bouncing back
Posted: 12/19/2011 11:53:20 AM PSTUpdated: 12/19/2011 05:02:43 PM PST
WALNUT CREEK -- Despite all the talk in recent years of troubles on Main Street, business is once again starting to boom in Walnut Creek's downtown.
Businesses owners are getting back to business, with the retail vacancy rates of downtown stores falling by more than 25 percent in the last four quarters to 3.2 percent, according to real estate experts.
"Statistically, numerically, the market is really at pre-recession levels," said John Cumbelich, a Walnut Creek-based commercial realty agent who specializes in retail. "There are only 75,000 square feet of vacant space in a market of 2.35 million square feet; that is not a lot of space."
At the height of the economic meltdown, Walnut Creek's vacancy rate was at 7 percent. While that might seem low in surrounding cities, Walnut Creek has always been a fundamentally stronger market, Cumbelich said.
"Compared to historic levels in Walnut Creek, we saw a vacancy spike that exceeds anything we have on record for the retail downtown core," he said.
The proof of new life is the shops and restaurants popping up all over town. In the past few months newbies include La Boulange de Walnut Creek, the Giants Dugout store, Bosphorus Turkish Cuisine and ØL Beercafe & Bottle Shop. On deck to open -- Opa, a Greek restaurant next to Prima; Farm to Table Cafe; Nothing Bundt cake; and The Corner's Tavern.
On Sept. 6, Rick Delamain opened his restaurant Cypress, an American-French
contemporary brasserie, on Locust Street. It is in the same location as Vesu, a restaurant that closed in April less than a year after it opened.AdvertisementDelamain, a restaurant veteran, took a chance to open in a sluggish economy. But he said he is confident in the restaurant's success because Walnut Creek is the "culinary capital of the East Bay."
"This is a local joint that everyone can come to," he said. "We are strategically positioning ourselves that we will grow with the economy and we will have a strong position."
Another indication of downtown revitalization are business owners refurbishing the outside as well as the inside of their businesses, said Ron Gerber, economic development manager for the city.
Such examples include the former Delle Stelle building on Main Street currently under renovation for a restaurant and The Corners and Walnut Creek Boulange taking over the former Bing's space. Farther up Main Street, the construction of a new Dirito Brothers Volkswagen 30,000-square-foot dealership continues.
"When you see this kind of commitment it speaks well for downtown vibrancy," Gerber said.
But less vacancy doesn't necessarily mean rents have rebounded to pre-recession levels. In the historic (traditional) downtown, rents go from $36 to $60 per square foot a year, which is good, but for premium retail spaces such as across from Broadway Plaza or in Plaza Escuela, the rents are 20 percent lower than pre-recession. The likely reason: Prospective tenants take on more risk because that space is more expensive, so they have to feel confident before signing a long-term lease, Cumbelich said.
"We have been in unstable economic times, and until that recovers fully, we are going to continue to see caution for premium rentals," Cumbelich said.
Other positive indicators include The Village at 1500 Newell project, a mixed-use development that will offer 40,000 square-feet of retail, set to break ground next year; and of course, Neiman Marcus, which opens in March.
The benefits of Neiman will be seen in the next few years as "super premium retailers" such as Prada and Gucci will finally consider Walnut Creek a possibility because Neiman is an anchor, Cumbelich said.
"Walnut Creek is the only choice" in the East Bay for those types of stores to set up shop, he said.
Thursday, December 15, 2011
Beware Of Rent Fraud - It's Here in the Bay Area
File this under too good to be true: One bedroom condo in Walnut Creek a short distance from the city's tony downtown; water, Internet and garbage included; pets OK; $850 a month.
As if the housing crisis wasn't plagued with enough fraud already, a new bunch of scammers is advertising homes for rent that they don't own and probably have never even seen.
The homes are often foreclosed and empty, or are for sale. The advertised rent is rock bottom, and the would-be renter must send a deposit to get the keys. The scam has become more frequent as unemployment and foreclosures have flooded the rental market with people desperate for something they can afford.
Legal secretary Sherry Davis said she regularly encounters these scams on Craigslist and other online classified ad sites. She's trying to find a place to rent, after losing her Walnut Creek condo to foreclosure following a hospitalization and loss of a job.
"It's rampant," Davis said. "The bottom line is if they can't show you the inside of the property, be very wary."
The Santa Clara County District Attorney's Office has received complaints, some from people who have made the deposit, moved in and paid rent, only to find out later they've been victimized.
"With so many foreclosures on the market, we have had complaints of people lying and saying they have the right to rent the property, and they don't," said Paul Colin, a deputy district attorney. "We've heard of
situations where people have moved in."AdvertisementProsecuting is not easy. "If someone reports a crime and can't tell you anything about who ripped them off, then it's very difficult for us to pursue the culprit," he said.
Steve Mun, of Keller Williams Realty in San Jose, said he's had homes listed for sale offered as rentals by online scammers.
"They take my listing, flip it around, advertise it as a rental. People are told to wire money to an overseas account," Mun said. Monday, the Web page of one of his listings, a home offered for $760,000 on Alisal Avenue in San Jose, was copied and listed by scammers as a rental for $3,000 a month.
"Usually, the common thread is, I'm the owner, I'm out of the country for some reason, and that is why I can't come and meet you. If you're interested, here's my bank account, for the deposit," Mun said
It has become such a problem that Mun has blogged about it several times. Mostly, people aren't taken in, he said, especially if they go by the home and see a "for sale" sign on the lawn.
Mun said one scammer told a would-be renter they couldn't go in the house but only look inside through the window.
In her search for an apartment, Davis -- who from 1993-99 was
the public address announcer for the San Francisco Giants games -- said she's found more phony listings than real ones. That includes a $900-a-month apartment on Lombard Street in San Francisco; a three bedroom home for $900 a month; and incredible deals offered by "missionaries" who are out of the country."They have the keys with them, don't have a property manager who can show you the home, but they're looking for good people. One went so far as to use the term 'God fearing.' That really got me."
To get the key, she said, "you send them the deposit."
Friday, she responded to an ad for a Walnut Creek condo for rent for $850 a month. The reply came quickly:
"I'll rent it to whoever puts down the deposit," said the alleged landlord. ''Rent includes water and garbage. My company sent me overseas and will probably be between Africa, India and the UK for another year or so. ... I don't have anyone available to show the place but I can send you pictures of the inside but will have to ship you the keys and papers."
A quick Internet search revealed that the condo is indeed for rent -- for $1,200 through a professional property management company in Walnut Creek. No pets.
Margaret Brown, of Premium Properties in Walnut Creek, said she's had about 15 listings pirated this year. "It happens to our other agents, too. We're well aware of it. People call us, say it's on Craigslist for $900, when the true listing price is $2,500 or $3,000. "
Craigslist has a link on its page for renting houses or apartments with some good advice for avoiding scams, such as:
"Never wire funds via Western Union, MoneyGram or any other wire service -- anyone who asks you to do so is a scammer."
Craigslist goes to great lengths to prevent scams from reaching users, spokeswoman Susan MacTavish Best said in an email. The online service uses "a wide array of technological and staff measures to suppress scam attempts," she said, but some get through. Those "are generally quickly identified and removed by user flagging."
Monday, December 12, 2011
BofA developing foreclosure rental programs to deal with distressed properties
Home > Servicing/Default > BofA developing foreclosure rental programs to deal with distressed properties
BofA developing foreclosure rental programs to deal with distressed propertiesby JON PRIOR
- Meet the new head of the BofA legacy servicing department
- Bank of America set to write down principal on California mortgages
- BofA Nonperforming Loans, Foreclosures Up 15% from a Year Ago
- Carrington Property Services reorganizes into specialty servicing divisions
- BofA joins California principal reduction program
tag. * * If you do not want to deal with the intricities of the noscript * section, delete the tag (from ... to ). On * average, the noscript tag is called from less than 1% of internet * users. */-->
Friday, December 9th, 2011, 3:35 pm
Bank of America (BAC: 5.45 -4.72%) is looking at a new program to rent a home back to the borrower after foreclosure.
"There are programs that we are quite interested in," said Ron Sturzenegger, who leads the bank's legacy asset servicing division, in an interview with HousingWire. "We are talking with investors that would come in and buy these houses and would lease them back to who would now be the now tenant."
In February, BofA formed the division to handle the servicing for delinquent mortgages, loans no longer being written, and to sort out outstanding representation and warranty claims. Currently, more than 35,000 employees at the bank are sorting through 1.1 million loans 60 days delinquent or worse, according to its third-quarter financial statement.
The Federal Housing Finance Agency is working on an REO rental program for Fannie Mae and Freddie Mac. It received more than 4,000 ideas on how to do it.
But private banks own $50.4 billion worth of REO properties, too, according to the Federal Deposit Insurance Corp., and millions of these homes are sitting vacant.
Sturzenegger described how their idea would work.
"We are looking at programs where you can capture somebody before the REO process and offer a deed-for-lease. We would go to the customer and say, 'We'll do a short sale. Will you be interested in leasing your property back? We're still going to sell the property. You will no longer be the owner. But you can be a tenant now in that same property and save you from moving on,'" he said.
Sturzenegger stressed the bank would still sell the REO as before in areas where there is a market for them and they can still get reasonable bids. But some areas are so saturated with inventory, there isn't enough investor or homebuyer demand and properties can sit for years uninhabited.
Berkeley bank owned duplex has an odd staircase
Sent from my iPhone
Posted on Walnut Creek Real Estate-Walnut Creek Homes For SaleThursday, December 8, 2011
HOUSE OF THE DAY: The Price On This California Wine Estate With A 100-Car Garage Was Just Slashed To $20 Million
HOUSE OF THE DAY: The Price On This California Wine Estate With A 100-Car Garage Was Just Slashed To $20 Million
An 80-acre wine estate in Fairfield, California was just price-chopped to $20 million, a $2 million discount (via the Wall Street Journal).
The house features six bedrooms, 11 bathrooms, three auto barns, a wine cellar, and an indoor pool.
It's being sold by the founder of auto-parts auction company Copart, who left his mark on the property with a trio of car barns that hold more than 100 vehicles, according to the WSJ,
The beauty is in the details in this home, with hand-painted ceilings and murals throughout.
Wednesday, November 23, 2011
Walnut Creek Black Friday and Cyber Monday Deals!
Black Friday and Cyber Monday resources
BLACK FRIDAY DEALS
Click on a logo below to view 2011 deals:
Check out these awesome deals for Black Friday and Cyber Monday. BestBuy has a 42" TV for $199!
Monday, November 21, 2011
Understanding Points, Rates, and Fees on Walnut Creek Real Estate Loans
Not only do you have to understand what type of mortgage you should choose, you have to understand the costs associated with your mortgage. All of these costs will be paid upon closing your mortgage.
Purchase Points
Purchase points, also known as a "buy-down" or "discount points," are an up-front fee paid to the lender at closing to buy-down or lower your interest rate over the life of the loan. Each point is equal to one percent of your total loan amount. If you have a $100,000 loan, one point would equal $1,000. The more points you buy, the lower your interest rate, but the more money you'll need at closing.
How do you decide whether you should buy points and if so, how many? Well, the decision should be based on how long you plan on living in your home and what you can afford to pay each month toward your mortgage. If you plan on living in your home for more than five years, it's probably a good idea to purchase points. The longer you live in your home, the more you can save on interest over the life of the loan.
Interest Rate
When you get a mortgage, you are charged an interest rate. This is the rate which the lender charges you for using their money to buy a home. It determines how much your monthly payments will be. Generally speaking, the higher the interest rate, the higher your monthly payment.
Mortgage interest rates change constantly. Daily, even hourly. If you speak to a lender and are quoted a specific interest rate, that's not to say you'll necessarily get that rate when you close on your loan. Not unless you formally lock-in that rate with the lender. Locking in an interest rate will guarantee you get your loan with a particular interest rate. Lenders will allow you to lock in for 15, 45 or 60 days. But the longer you lock in, the more expensive it will be, since it's more of a risk to lenders.
Fees
There are always fees associated with getting a mortgage, these fees cover the cost of processing and underwriting the loan. These fees can include charges for ensuring the title to the home is free and clear; paying for a land survey; or paying for a home appraisal which gives you the estimated value of the property (lenders require an appraisal to close on your mortgage).
Deciding which mortgage to get may depend on what each lender does because different lenders may charge different amounts. Some may charge lesser closing fees to lure you in, but may charge you a higher interest rate, which means you may pay more in the long run. But everyone has different needs.you may or may not be able to afford to pay more at closing and are willing to pay more over the long term.
Before it comes time to close, do your homework, make sure there are no hidden fees, and ask your lender lots of questions so that you understand all the costs involved with your mortgage.
*Please consult your tax advisor.
Friday, November 18, 2011
Walnut Creek FHA Loan Limits Restored- Higher Loan Limits for Walnut Creek Homebuyers
Congress Restores FHA Loan Limits to NAR-Backed Levels
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The U.S. House and Senate yesterday restored FHA loan limits to the level they were at before they were allowed to expire at the end of September. As a result, the limits will rise to 125 percent of the area median home price from 115 percent, up to a maximum $729,750 from $625,500. NAR estimates that several hundred counties where FHA loan limits fell at the end of September will now rise back up to the previous level.
“The reinstated loan limits will help provide much needed liquidity and stability to communities nationwide as tight credit restrictions continue to prevent some qualified buyers from becoming home owners and the housing market recovery remains fragile,” said NAR President Moe Veissi in a statement released last night.
President Obama is expected to sign the legislation shortly. The restored loan limits are in a broad-based bill that includes funding for a wide variety of federal operations and programs.
The maximum conforming loan limits for secondary mortgage market companies Fannie Mae and Freddie Mac also expired at the end of September, but lawmakers did not include a restoration of those limits in the bill. As a result, conforming loan limits will remain at 115 percent of the area median home price, up to $625,500.
Once President Obama signs the bill, the limits will go into effect. FHA will release a mortgagee letter to its approved lenders thereafter, containing a list that’s been updated to reflect the new limits. NAR analysts say it will take the agency a short period to update its database and release the mortgagee letter, maybe a couple of weeks.
The funding bill also extends the National Flood Insurance Program (NFIP) until Dec. 16 to allow lawmakers time to consider long-term authorization of that program, which is an NAR priority.
Wednesday, November 16, 2011
How Facebook Can Crush The Sale Of Your Home- Selling Your Walnut Creek Home
How Facebook Can Crush The Sale Of Your Home
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Social media can be fun and useful in business but for people buying or selling a home oversharing could have a downside. Realtor® Stu Barnes of Raleigh, North Carolina points out that those with a home to sell need to use caution when posting on Facebook and other sites:
So with social media very abundant and everyone sharing every detail of their lives there is something you should know. If you are selling your home it is not the most prudent thing to do, spilling the beans online.
Don’t get me wrong, Facebook, Twitter, LinkedIn, et al. are great ways to keep in touch with old friends, schoolmates, relatives etc. It is also a great way to generate business and create new contacts within your field. I have an account on all of these sites and more but, too much information is just that….too much.
I am not talking about the status updates that no one really cares about like “just dropped kids off at daycare,” “just checked in to Starbucks,” “OMG, I just had the best piece of cake” but I am talking about if you are selling your home. Stop talking or at least make sure your settings are set to where only friends can see your updates. Too many times, I see people giving updates on the number of showings on their home, the amount they will take, the new home they just bought so they are willing to give their home away. These things are confidential and when a buyer gets hold of the information the offer you get is going to be well below what you would want, you just showed your cards.
Who would be looking at this information? Everybody. If you do not adjust your settings to where your posts and updates are set to just friends, etc., the whole world knows your business, including other agents that represent buyers looking for homes in your neighborhood. The first piece of advice is what I just shared….check your settings and if you must update, be careful. Another piece of advice is don’t give any details about your current transaction. If you really like a house and have made an offer, don’t say things online like “we would do anything to get this house” or “waiting on seller to respond”….”fingers crossed” this shows your cards. I recently heard about a transaction where the buyer for a local listing was singing like a bird and didn’t have their settings blocked so the other agent and sellers could easily access that page and basically know the next move of the buyer.
Information is very easily accessed these days all you need is the name of a person and Google–be careful.
Oakland Metro Area Home Inventory Rapidly Declining - Walnut Creek Real Estate News and Statistics
Top 20 markets Realtor.com inventory declines
Market
Total listings, October
Change from year ago
Change from September
1. Miami, Fla.
13,457
-49.23%
-1.24%
2. Phoenix-Mesa, Ariz.
19,407
-47.72%
0.39%
3. Orlando, Fla.
11,365
-44.76%
-0.57%
4. Boise City, Idaho
3,086
-40.84%
-5.1%
5. Fort Myers-Cape Coral, Fla.
11,179
-40.68%
0.71%
6. Oakland, Calif.
6,892
-38.31%
-6.08%
7. Bakersfield, Calif.
2,988
-38.16%
-4.2%
8. Fort Lauderdale, Fla.
13,926
-37.74%
-0.54%
9. Naples, Fla.
7,381
-37.05%
1.97%
10. Fresno, Calif.
3,542
-37.00%
-4.91%
11. Portland-Vancouver, Ore.-Wash.
9,077
-36.68%
-6.85%
12. Lakeland-Winter Haven, Fla.
3,480
-36.40%
0.55%
13. Melbourne-Titusville-Palm Bay, Fla.
5,193
-35.90%
-0.83%
14. Savannah, Ga.
1,428
-35.61%
-3.79%
15. Tampa-St. Petersburg-Clearwater, Fla.
20,469
-34.78%
-2.51%
16. Sarasota-Bradenton, Fla.
8,036
-32.03%
1.09%
17. Daytona Beach, Fla.
7,392
-31.69%
-1.94%
18. Jacksonville, Fla.
10,871
-31.66%
-2.5%
19. Atlanta, Ga.
59,127
-31.41%
-4.72%
20. Dayton-Springfield, Ohio
7,934
-31.20%
-4.25%
United States
2,116,794
-20.77%
-3.48%
Source: Realtor.com.
We are seeing the same thing in our local Walnut Creek real estate market. Inventory is declining and causing bidding wars.
Monday, November 14, 2011
More Californians Are Able to Buy Houses - Walnut Creek Real Estate Update
More Californians able to afford homes
Lower prices and interest rates lead to a third-quarter increase in those who can afford a home at the statewide median to 52%, up from 51% in the previous quarter, according to a Realtor group's index.
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Beth L. Peerce, president of the California Assn. of Realtors, said one problem potential home buyers could face is tight credit. Above, a home in Mar Vista. (Genaro Molina, Los Angeles Times / November 1, 2011)
It's the silver lining of falling home prices: With low interest rates and cheaper housing, the percentage of Californians who could afford to buy a home increased in the third quarter, a real estate group said.The portion of households that could afford a home priced at the statewide median of $292,120 rose to 52%, up from 51% in the previous quarter, according to an index released Thursday by the California Assn. of Realtors.
Beth L. Peerce, president of the group, said that one problem potential home buyers could face is tight credit. Many first-time buyers don't qualify for a loan, she said.
Some analysts have noted that banks have tightened their loan criteria since the housing crash. But it was those loose lending standards that caused the real estate bubble in the first place, so many other analysts argue that more carefully scrutinizing borrowers is appropriate.
The federal government has been providing enormous support to the mortgage market through loans backed by the Federal Housing Administration, although it has recently taken steps to scale back that support.
In California, potential buyers needed to earn at least $61,530 a year per household to afford a home at the third quarter's median price, the Realtors group said. The median is the point at which half the homes in the state sold for more and half sold for less.
The real estate group calculated the monthly payment for a mortgage on such a home to be $1,540, including taxes and insurance, and assuming a 20% down payment and a 4.63% interest rate.
Saturday, November 12, 2011
Rate on 30-year mortgage below 4 pct. for 2nd time - Walnut Creek Real Estate Update
Rate on 30-year mortgage below 4 pct. for 2nd time
Thursday, November 10, 2011
A woman walks past a Wells Fargo Home Mortgage office in La Habra, Calif.. Rates on 30-year mortgages fell below 4 percent.
More News
(11-10) 08:49 PST WASHINGTON, (AP) --
The average rate on the 30-year fixed mortgage fell below 4 percent for just the second time in history.
Freddie Mac said Thursday the rate on the 30-year fixed loan fell to 3.99 percent, down from 4 percent last week. Five weeks ago, it dropped to a record low of 3.94 percent, according to the National Bureau of Economic Research.
The average rate on the 15-year fixed mortgage fell last week to 3.30 percent from 3.31 percent. Five weeks ago, it too hit a record low of 3.26 percent.
Mortgage rates track the yield on 10-year Treasury note, which fell this week as investors shifted money into safer Treasurys amid fears Europe's debt crisis could worsen.
