Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
Yesterday we went over some of the reasons why the current low interest rates are unlikely to spur a dramatic wave of refinancing activity. However, trying to capture a lower interest rate may make sense for homeowners that have equity in their property, strong credit scores and available cash. Today we’re going to run some numbers to try to quantify the benefit of a lower interest rate. Assumptions 1. Homeowner purchased a home one year
That is the question. Whether ’tis nobler to suffer the slings and arrows of higher monthly interest payments, or to take arms against the current mortgage, and by refinancing, to end it. Interest rates are back down to historic low levels. The chart at left is from Bankrate.com and shows the average interest rate for 30-year fixed mortgages in Connecticut over the past 5 years. Large mortgage rate drops historically lead to a boom in
The next downtown residential project to begin renting is going to be the Hollander Foundation Center at 410 Asylum Street. The drywall is up inside and work crews are making steady progress towards their August 2009 completion goal. Common Ground, the project developer, is currently looking for retail tenants for six ground floor retail suites. Rental applications for the apartments will be available later in the spring. Plans for 410 Asylum have changed dramatically over
Close to the pond in the eastern portion of Bushnell Park sits a tall statue of Dr. Horace Wells. The inscription says that in December 1844 he discovered anesthesia. What an odd item to memorialize. Very important, but still a curious choice. I had to look a little deeper. Dr. Wells was a dentist and he lived a life that, if true, should be made into an episode of E! True Hollywood Stories. According to
Who says there is no money out there to borrow against home equity? After doing a little business with Bank of America in downtown Hartford the other day I was surprised to see a big sign in their lobby announcing Home Equity Lines with rates of 4.24% for $50,000 and $100,000 lines. The gentleman at the info desk assured me that not only was it still possible to get a home equity line, but that