Filed under: Austin News and Events, Austin Sustainable Living, Austin Texas, Austin Texas News, Austin Texas Real Estate, Real Estate News, Real Estate Tips and Advice, Texas, Visit Austin | Tags: Austin Homeowners
All good things good to an end it seems. And the low-low 4% interest rates have ended. According to the experts, there is little hope that they will return.
For the past three months interest rates have remained under the 5% mark. Just a few short weeks ago, homeowners seeking a refinance, and buyers could get a mortgage loan with an interest rate around the 4.75% mark. Last week the national average was 4.91%. This week interest rates have shot up to 5.39% (as reported by Freddie Mac)! This is the highest interest increase in six months.
According to Yahoo Real Estate today’s rate is 5.396%. However, according to ReatyTimes.com the average rate is 4.91%. Either way, today’s rates indicate interest rates for home mortgages are on the rise.
Austin homeowners, it is important that you understand how higher interest rates effect you. There are some negatives and a very great positive reaction when interest rates go up.
Negative Reactions:
When interest rates rise, even slightly, less buyers qualify
When interest rates rise, buyers do not buy because of higher mortgage payments, which make renting more affordable
When interest rates rise, a home refinance is less likely to be beneficial
Positive Reaction:
When interest rates rise, home purchase activity goes up because buyers want to buy before the rates increase further
Austin home buyers, it is important that you understand how higher interest rates effect you
A higher interest rate results in a higher mortgage payment
A higher interest rate results in less buying power
A higher interest rate can keep you from qualifying for a mortgage loan
A higher interest rate costs you ten of thousands of dollars (in interest paid) over a long period of time (30-year mortgage)
Austin home buyers if you are considering purchasing a home in 2009, get off the fence. There are great reasons to buy now, including the one time (and for this year only), tax credit. By the way, there have been changes to the tax credit which will allow you to use it as a down payment or to pay closing costs when using FHA financing. I will be posting a blog on the benefits of how buying now can save you a lot of money.
Austin homeowner if you are considering refinancing your home loan, get off the fence. The higher the interest rate the less sense it makes to refinance. I will be posting a blog on the benefits of refinancing in a future blog.
Attention Austin homeowners. I will be posting a blog on the benefits of refinancing. It may not be too late!
Attention Austin buyers, I will be posting a blog on the benefits of how buying now can save you a lot of money.
Filed under: Austin Green Living, Austin News and Events, Austin Sustainable Living, Austin Texas, Austin Texas News, Uncategorized | Tags: Austin, Austin awards, Austin news, Austin TX, Austin water, Austin water program, clean water
Last May (2008), I wrote a blog about Austin’s great water. At that time, Austin ranked #2 by Forbes.com for the nation’s cleanest water. Austin’s Clean Water Program (ACWP) was honored again by a higher power, the Environmental Protection Agency. Austin’s Clean Water Program was named one of the best infrastructure programs not only in the United States but also in the entire continent of North America. The International Right of Way Association has declared Austin’s Clean Water Program to be one of the best in North America’s history.
Austin’s $400 million Clean Water Program’s infrastructure projects were ranked in the #8 position on the list of the Top Ten of best projects in the last 75 years. Austin invested an approximate $15 million dollars to create over 100 projects to protect and improve Austin’s water.
So, Austinites, let’s all make a toast to the great City of Austin and its Clean Water Program with a tall drink of water straight from the tap. Water, another great reason to live in Austin, Texas! Read the story:
Filed under: Austin Green Living, Austin News and Events, Austin Sustainable Living, Austin Texas, Austin Texas News, Austin Texas Real Estate, Texas
As I have mentioned in previous blogs, Austin is a city with a green living vision. I am proud to announce that both the Dell Children’s’ Medical Center and The Advanced Micro Devices (AMD) Lone Star Austin campus have been awarded high honors by the U.S. Green Building Council’s Leadership in Environmental Energy and Design (LEED) rating system.
Dell Chrildren’s Medical Center was awarded the highly coveted platinum rating. The platinum rating is the highest award to be granted by the LEED rating system. The AMD – Lone Star campus located in Austin was awarded a gold rating, the second highest.
The platinum ratings make the Dell Children’s Medical Center the greenest hospital in the world and the first hospital to be recognized for its design and implementation of green living standards. The gold award received by AMD – Lone Star Austin campus is makes it one of the greenest corporate centers in the world.
The LEED Green Building Rating System is the national and worldwide benchmark for environmentally friendly building standards which include design, construction and operation. LEED rates buildings on the materials which improve energy efficiency.
The Dell Children’s Medical Center and the AMD – Lone Star Austin campus display not only their own commitment to sustainable living but to Austin ’s vision of becoming a sustainable city.
