Connecticut Financing Update and Mortgage Rates January 13, 2012

Today's BEST-EXECUTION Rates  - Best-Execution is the "most efficient combination."  This akin to the colloquialism "most bang for your buck," in the sense that we're looking for the shortest amount of time to recapture any applicable borrowing costs.  In some cases, lenders won't only NOT be charging those costs, but can actually pay a few of the other ones as well.  Either way, we look at the difference in cost between each rate.  

Until recently, that has been clearly at 3.875% with no threat of competition from lower rates, but they are gradually getting closer and closer, constituting less of a "diminishing return" to take a look at paying more in closing costs in exchange for a lower rate.  This is why we say 3.875% is still the best candidate for a Best-Execution rate, but 3.75% is getting close--because the gap in costs between 3.875% and the next few lower rates has not only narrowed, but also become more linear.  

Today set records thanks to Europe, both in terms of the broader economic landscape and specific events today.  Threats of a French credit rating downgrade by S&P flooded the Treasury complex with demand, lower the benchmark rates against which MBS (the "Mortgage-Backed-Securities" that most closely govern mortgage rates) are measured and valued.  When Treasuries rally (move lower in yield, higher in price) significantly, MBS tend to be rallying as well, though usually not as significantly.  Still, it was enough of a rally for MBS, and consequently mortgage rates, to improve. 

Today's Mortgage Rates

30 year fixed - 3.850% + 0% cost points for rate
20 year fixed - 3.750% + 0 % points for rate
15 year fixed - 3.250% +  0% points for rate
10 year fixed - 2.875%  + 0%  points for rate
5/1 ARM - 2.375%  +0 points for rate
7/1 ARM - 2.750 %  + 0 points for rate
10/1 ARM 3.250% + 0 points for rate

FHA/VA
30 year fixed - 3.750% with +0 % points for rate
5/1 ARM - 2.750%  with + 0 points for rate
7/1 ARM - 3.25 with +  .625 % CREDIT  point for rate

Jumbo - over 576,000 (in Fairfield County, CT)   to 2,000,000
30 year fixed - 4.625  % with 0 points  for rate
15 year fixed - 4.125% with 0  points for rate
5/1 ARM - 3.375% - 0 points for rate
7/1 ARM - 3.750 % - 0 points for rate

Jennifer Buchanan,  Certified Mortgage Planning Specialist at MetLife Loans is a seasoned veteran of the Mortgage, Banking and Broker Industry and specializes in mortgage loans throughout Fairfield County, Connecticut.
   Her attention to detail is unsurpassed, and her understanding of the marketplace makes it easy to find the right loan to fit her clients specific needs .  Jennifer's local processing and closing team are also known for their exemplary service.
   Understanding that the vast majority of mortgage brokers never discuss the long or short term  financial needs or goals with their clients, she set herself apart from the rest by obtaining the coveted CMPS  designation. (Certified Mortgage Planning Specialist)
    She is a member of the National Association of Responsible Loan Officers, and her commitment to ethics, understanding of the marketplace, and business acumen have earned her the respect of her peers and clients alike.

Jennifer Buchanan
Metlife Loans
203-341-6949

Jennifer Buchanan- Your certified expert
 on mortgages offering Free Unbiased
recommendations based on your needs.

A note from Judy: If you have a question about buying or selling Real Estate in Fairfield County, and are in need of an Realtor to represent you, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

We're in TheDailyGreenwich With Our 2012 Greenwich Real Estate Predictions

We're pleased to tell you that Greenwich's premier online news source has asked us our opinion of the real estate market in Greenwich, in addition to our ineterview articles in TheDailyWeston  and  TheDailyEaston, as well as our predictions for 2012. We invite you to read the article and check out their site.
 
Read the article in  TheDailyGreenwich. You can also see a copy of this article on our Greenwich Town page.

If you own a home in Greenwich and need an agent, call me, or contact me by email. I love this town, and I will get your home sold for the best price the market will bear. You can count on it.

We're Also in TheDailyEaston With Our 2012 Easton Real Estate Predictions

We're pleased to tell you that Easton's premier online news source, TheDailyEaston  has asked us our opinion of the real estate market in Easton as well as Weston, and for our predictions for 2012. We invite you to read the articles and check out their site.

New for you regarding Easton real estate from TheCTRealtyBlog is that we have also included annual real estate statistics for the past seven years for Easton on our site, which can be found on the left hand side bar under "Real Estate Market Reports" Here's the direct link to our Easton Statistics
 
Read the article in  TheDailyEaston . You can also see a copy of this article on our Easton town page .

If you own a home in Easton and need an agent, call me, or contact me by email. I love this town, and I will get your home sold for the best price the market will bear. You can count on it.

We're in TheDailyWeston With Our 2012 Weston Real Estate Predictions

We're pleased to tell you that Weston's premier online news source has asked us our opinion of the real estate market in Weston as well as Easton, and for our preditions for 2012. We invite you to read the article and check out their site.

News for you on the Weston front from TheCTRealtyBlog is that we have also included annual real estate statistics for the past seven years for Weston on our site, which can be found on the left hand side bar under "Real Estate Market Reports" Here's the direct link to our Weston Statistics
 
Read the article in  TheDailyWeston . You can also see a copy of this article on our Weston town page .

If you own a home in Weston and need an agent, call me, or contact me by email. I love this town, and I will get your home sold for the best price the market will bear. You can count on it.

Radon Facts to Know When Buying Your Connecticut Home

Radon: ra-don (rā don) n. A heavy, colorless, odorless, radioactive gaseous element symbolized by Rn.

Some radon facts; designated as a class "A" carcinogen

• recognized as the leading cause of lung cancer amongst non-smokers & the second leading cause of lung cancer after smoking;
• a chemically inert gas that is one of the heaviest gases known to exist - roughly eight times heavier than air;
• discovered in 1900, it was the fifth radioactive element to be discovered;
• first documented ill effects of radon exposure date back to the 15th century;
• radon is largest source of ionizing radiation exposure to the general public;
• the 4.0 pCi/l EPA "Action Level" was established in 1986;
• congress's Indoor Radon Act of 1988 stated goal calls for indoor radon concentrations be reduced to outdoor levels (0.4 pCi/l avg.);
• the Iowa Study of residential radon exposure conducted from 1993 - 1998 confirmed previous miner study data that links radon to lung cancer;
• World Health Organization has suggested worldwide action level of 2.7 pCi/l;
• atomic weight is 222, atomic number is 86;
• if ignored, can be fatal to a successful real estate transaction.

The last fact noted in the previous paragraph doesn't have to be a fact. Any radon problem can be fixed.

Hopefully, this list of radon "trivia" enlightens those who still think radon is a hoax. For those who still require further convincing, consider visiting the following websites to gain a greater insight on radon & the consequences of long term radon exposure; www.cansar.org, www.aarst.org, www.lungusa.org, www.epa/iaq/radon/index.html.

For legal-related inquiries, call Attorney Tamara Peterson at 203-581-1712 or send an email to Tamara@TamaraPetersonLaw.com   

The weekly Tip-of-the-Week* is supplied by Only Closings --

a law firm devoted to real estate closings.

      - Our closing staff is made up of seasoned, experienced real estate attorneys.
      - Close where it is most convenient for the client (home, office, job or bank)
      - Very competitive closing fee and no hidden fees!
      - No fee consultations.
      - Personalized, responsive service from all of our attorneys and paralegals

  To learn more about Only Closings and how they can help you quickly close a property transaction, call them at 203-563-9677 or visit them online at www.OnlyClosings.com

*The content within the "Tip-of-the-Week" is strictly for informational purposes and not intended to be interpreted and/or used as legal advice. Only Closings and OnlyClosings.com is a service provided by Tamara L. Peterson Attorney at Law LLC.

And a note From Judy: If you have a question about buying or selling Real Estate in Fairfield County, and are in need of an Realtor to represent you, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.