Archive for April, 2011

Rate on 30-year fixed mortgage fell to 4.78%

Saturday, April 30th, 2011

Source: Associated Press/AP Online
Publication date: April 28, 2011

By JANNA HERRONNEW YORK – Fixed mortgage rates dipped this week, with the rate on the 30-year loan staying under 5 percent and the 15-year loan falling below 4 percent.

Freddie Mac said Thursday the average rate on the 30-year loan fell to 4.78 percent from 4.80 percent the previous week. It hit a 40-year low of 4.17 percent in November.

The average rate on the 15-year fixed mortgage slipped to 3.97 percent from 4.02 percent. It reached 3.57 percent in November, the lowest level on records dating back to 1991.

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Internet Plan of the Week: A Mixed-Use Project

Monday, April 25th, 2011

This week’s Internet Plan of the Week was recently published in Florida Homebuilder magazine and is a ‘small-scale mixed-use’ project on Long Boat Key, FL by architect Donald Evans.  A mixed-use project is one that mixes several property uses together, such as, in this case, residential and commercial, with the commericial further being broken down into office, retail and restaurant. 

All of the uses are designed to complement each other; for example, the offices will be busier during the day but then free up parking for use by the restaurant which will tend to be busier at night.  Since the restaurant could potentially be noisy, no living space on the third-floor residence is directly above the restaurant.

The three story structure contains parking on the first floor, commerical space on the second and a luxury residence on the third.

Open this PDF file to see the floorplans and the entire column.

Dreambuilder Twelve progress pictures available on our Facebook page

Monday, April 18th, 2011

Dreambuilder Twelve, our latest kitchen remodel, is in full swing.  Check out progress photos on Dreambuilder’s Facebook page.  More photos will be uploaded as we work through the project.

If you aren’t a ‘fan’ of our Facebook page, please become one today!

Rate on 30-year fixed mortgage rises to 4.91%

Friday, April 15th, 2011

Source: Associated Press/AP Online
Publication date: April 14, 2011

NEW YORK – The rate on the 30-year fixed mortgage rose for the fourth straight week, but still remains below 5 percent.Freddie Mac says the average rate on the 30-year loan rose to 4.91 percent from 4.87 percent the previous week. It hit a 40-year low of 4.17 percent in November.

The average rate on the 15-year fixed mortgage increased to 4.13 percent from 4.10 percent. It reached 3.57 percent in November, the lowest level on records dating back to 1991.

The housing market continues to suffer despite low mortgage rates. Job worries, tight credit standards and a high number of foreclosures are sidelining potential buyers. The number of homes repossessed by banks jumped 13 percent in March from the month before, the highest increase in a year.

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