Provided By Realty Times
It is recommended that you have a real estate agent help you with your transactions. But how do you know which agent to select? The choice can be difficult, but here are some questions to ask during potential agent interviews.
1. Do you have references from past clients? Ask their past clients if they were pleased with the service the agent provided them. Did they communicate in a timely manner, and were they kind and courteous?
2. What does being an agent mean to you? By asking this question you'll be able to see what their work ethic and business philosophy are. You want an agent that puts their priority on your happiness first, and their commission check second.
3. How long have you been in real estate? This is not to say that someone new to the business would not be a great asset. However, depending on the nature of your transaction, you may feel more comfortable with an agent with a proven record of sucess.
4. How many homes did you sell last year? Just because an agent has been in the business for a while doesn't mean they've been successful. You don't want to have your home on the market for months, when a savvy agent could have it sold in weeks.
5. What designations and certifications do you hold? Beyond holding a real estate license, agents can opt to expand their education and skills. There are a multitude of courses and programs available. In general, these certifications mean a more specialized agent.
6. What is your marketing plan? In an ideal world a house would just sell itself, right? But the market swings back and forth on a constant pendullum between being in favor of sellers and then buyers. If you are selling a house in a buyers market, then you need a solid marketing plan to make your home stand apart. Open houses, email campaigns, webcasts, and brochures are just a few of the items your agent may use.
7. Do you do dual agency? Dual agency is when the agent represents both the buyer and the seller. This is legal, as long as disclosed, but it may not be something you're interested in signing up for. Be sure to ask.
8. What are your home sales stats? It is important to ask them how long it takes them on average to sell a home. And then ask what the area average is. They should know this information off the top of their head, or at least have the statistics readily available.
9. How do you communicate with your clients? There is nothing worse than not being able to get ahold of your agent, with questions, for updates, and for feedback. In today's modern world of technology, there is no excuse for them not to stay in constant contact. There is email, texting, cell phones, and a myriad of other options. Ask what they use to stay in touch with their clients.
10. Do you have other connections? Meaning, will they be able to refer you to contractors, mortgage lenders, banks, landscapers, pool maintenance crews, and the like. This will be especially important if you are new to the area.
Finding an agent who is suited best for what you're looking for is easy! Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Monday, May 31, 2010
Friday, May 28, 2010
Easy Fixes for 4 Household Problems
Written By Wendy Cole
Published By Realtor Mag
Problems like squeaky stairs and oil stains on the garage floor can be quick turnoffs to buyers. But these common household troubles need not hold your listing back—particularly if they’re relatively easy for a do-it-yourselfer to fix.
Lynda Lyday—carpenter, professional contractor, and a featured expert on the DIY cable network—provides dozens of simple fixes for common household problems in The Homeowner’s Manual (Que Publishing, 2006).
While it’s always best to bring in an expert to correct big problems, Lyday provides these tips for capable home owners who want to try their own hand at a solution.
Problem: Oil Stains on Garage Floor
Lyday’s solution: "You can remove most of a stubborn stain with a bit of elbow grease and scrubbing. First, remove the surface oil by sprinkling some cat litter on it to soak it up. Then clear away the cat litter and focus on the stain.
Make a paste of hot water and dry dish or laundry detergent. Use a stiff bristle scrub brush to scrub the area with the paste. Hose the area and let it dry. Another method is to use a product such as Spray ’n Wash on the stain for 10 minutes, along with a dry detergent.
Your last option is to spray on some oven cleaner. Use this sparingly, wash it down thoroughly, and keep children and pets away from it."
Problem: Leaky Faucets
Lyday’s solution: "Most faucet leaks can easily be fixed with a rubber washer, an O-ring, or seals—depending on what type of faucet it is. By fixing the problem yourself, you can save a good bit of money since plumbers can be expensive and will charge you a standard fee even if it takes only 10 minutes to fix the problem."
Problem: Nail Pops
Lyday’s solution: "Nail pops are a problem across the country. The term comes from the nails that hold the drywall to the studs actually popping out through the face of the drywall. This is from either a house settling or the wood studs drying out over time, squeezing the nail out of the wood and pushing it through the drywall.
The fix for this isn’t terribly hard, but it’s tedious because there are up to 32 nails in a 4-foot by 8-foot sheet of drywall. My suggestion is to pound the nail through the drywall to the stud. Then, just above it, place a drywall screw to hold the drywall to the stud, and finish it off with a few coats of spackle or joint compound. Finally, seal and paint it.
Most home-improvement stores also sell nail pop kits that can make this job easier."
Problem: Squeaky Stairs
Lyday’s solution: "The most common problems that occur in a staircase are the treads (horizontal surface of the steps) coming loose, which causes squeaking. Also common are the spindles or balusters coming loose. If you can get underneath the staircase, fixing the treads is easy.
You will need to attach an L bracket from the underside of the tread to the stringer (the long piece of wood that connects the treads and runs diagonally up the wall). If you can’t get underneath the staircase, you’ll have to make the repair from above.
Squeaky stair kits are available that allow you to make this fix even through carpet. Otherwise, you can secure the tread to the stringer with a trim screw."
Have you fixed up your home and are now ready to sell? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Published By Realtor Mag
Squeaky stairs, leaky faucets, or oil stains in the garage? Learn how to fix common household problems so they don't turn off buyers.
Problems like squeaky stairs and oil stains on the garage floor can be quick turnoffs to buyers. But these common household troubles need not hold your listing back—particularly if they’re relatively easy for a do-it-yourselfer to fix.
Lynda Lyday—carpenter, professional contractor, and a featured expert on the DIY cable network—provides dozens of simple fixes for common household problems in The Homeowner’s Manual (Que Publishing, 2006).
While it’s always best to bring in an expert to correct big problems, Lyday provides these tips for capable home owners who want to try their own hand at a solution.
Problem: Oil Stains on Garage Floor
Lyday’s solution: "You can remove most of a stubborn stain with a bit of elbow grease and scrubbing. First, remove the surface oil by sprinkling some cat litter on it to soak it up. Then clear away the cat litter and focus on the stain.
Make a paste of hot water and dry dish or laundry detergent. Use a stiff bristle scrub brush to scrub the area with the paste. Hose the area and let it dry. Another method is to use a product such as Spray ’n Wash on the stain for 10 minutes, along with a dry detergent.
Your last option is to spray on some oven cleaner. Use this sparingly, wash it down thoroughly, and keep children and pets away from it."
Problem: Leaky Faucets
Lyday’s solution: "Most faucet leaks can easily be fixed with a rubber washer, an O-ring, or seals—depending on what type of faucet it is. By fixing the problem yourself, you can save a good bit of money since plumbers can be expensive and will charge you a standard fee even if it takes only 10 minutes to fix the problem."
Problem: Nail Pops
Lyday’s solution: "Nail pops are a problem across the country. The term comes from the nails that hold the drywall to the studs actually popping out through the face of the drywall. This is from either a house settling or the wood studs drying out over time, squeezing the nail out of the wood and pushing it through the drywall.
The fix for this isn’t terribly hard, but it’s tedious because there are up to 32 nails in a 4-foot by 8-foot sheet of drywall. My suggestion is to pound the nail through the drywall to the stud. Then, just above it, place a drywall screw to hold the drywall to the stud, and finish it off with a few coats of spackle or joint compound. Finally, seal and paint it.
Most home-improvement stores also sell nail pop kits that can make this job easier."
Problem: Squeaky Stairs
Lyday’s solution: "The most common problems that occur in a staircase are the treads (horizontal surface of the steps) coming loose, which causes squeaking. Also common are the spindles or balusters coming loose. If you can get underneath the staircase, fixing the treads is easy.
You will need to attach an L bracket from the underside of the tread to the stringer (the long piece of wood that connects the treads and runs diagonally up the wall). If you can’t get underneath the staircase, you’ll have to make the repair from above.
Squeaky stair kits are available that allow you to make this fix even through carpet. Otherwise, you can secure the tread to the stringer with a trim screw."
Have you fixed up your home and are now ready to sell? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Wednesday, May 26, 2010
Small Projects That Pay Off Big
Written By Arianne Cohen
Published By Yahoo Finance
Provided By Money on CNNMoney.com
THE ENTRYWAY: TILE THE FLOOR
Do-it-yourself: $200 for tiles (four feet by four feet); $65 for tools
What you'd pay a pro: $1,000
Skill level: 2/4
Time: 1 day
Do this if... Your neighbors all have tile entries and you don't. And definitely if you have carpeting or linoleum, says carpenter Rick Crowe of Albany, N.Y. "The cheapest ceramic tile has more curb appeal than the most expensive linoleum."
Payoff: A buyer's first impression will be a good one. "Tile makes a house look worth something," says Adam Berlin, a contractor in Littleton, Colo. and host of DIY network's Sweat Equity.
What sells a house best: Anything that looks like stone, says Berlin. "Natural stone is timeless - everybody wanted it 2,000 years ago in Rome, everybody wants it now."
It's also pricey ($4 and up per square foot); porcelain is a durable, cheaper alternative ($2.50 and up) that can look similar.
You need: Tiles, spacers, adhesive, notched trowel, grout, sealer and plywood
The basic job: You must pull up the old flooring and install a layer of plywood. Then glue, grout and seal. The hardest part is cutting the tile, which you'll likely have to do around borders. Ask the tile store if it provides this service for free.
Where to find directions: Go to doityourself.com/miscellaneousfloor.
Tip: Go for six-inch tiles or bigger. The less grouting there is, the easier cleanup will be.
THE KITCHEN: PAINT THE CABINETS
Do-it-yourself: $135 for tools and paint supplies; $5 and up per knob
What you'd pay a pro: $1,200, refacing; $5,000, replacing
Skill level: 2/4
Time: 2 days
Do this if... You're selling soon. You won't recoup the cost of fully replacing shabby cabinets with new ones (that's $5,000 and up). Refacing them is harder and costly too ($1,000-plus). A coat of paint, on the other hand, can cheaply do a lot to spiff up what you have, even if it's a bit of a cosmetic fix. "Over the long run, it'll chip and wear," cautions contractor Berlin. But hey, that's someone else's problem.
Payoff: "If buyers like your kitchen, they will go through the rest of the home," says Davis.
What sells a house best: Neutral colors like white or brown, suggests Berlin
You need: Drill, bits, tarp, sandpaper, primer, oil-based or latex acrylic paint or stain, paintbrushes (avoid rollers because they can add unwanted texture) and knobs
The basic job: On the first day, you'll remove the cabinets, sand them and apply primer. Wake up the next morning and paint or stain. Add fresh hardware to make them look brand new.
Where to find directions: doityourself.com/stry/paintcabinets
THE FAMILY ROOM: BUILD BOOKSHELVES
Do-it-yourself: $500 for two six-foot-by-eight-foot oak shelves; $200 for tools
What you'd pay a pro: $1,200
Skill level: 1/4 (fixed shelves); 3/4 (adjustable)
Time: 1.5 days
Do this if... You have an odd nook that otherwise would seem like wasted space - say, under the stairwell or alongside the fireplace - or You need: to add dimension and character to a room that lacks any architectural detailing.
Payoff: "You'll give the buyer an idea of how the space can be used," says realtor Camp.
What sells a house best: Hardwoods like oak ($10 a linear foot) and mahogany ($12) are sturdier and more appealing to buyers than cheaper fiberboard and particleboard (both $15 per eight-foot piece).Fixed shelves are beloved by realtors and designers for their clean look. Read: no unsightly brackets.
But there's also a case for adjustable. "Some people will have vases, others books," says New York City interior designer Chris Coleman. "This gives the buyer some flexibility." As for color, aim for innocuous - natural woods or woods painted off-white or beige are best.
You need: Precut wood, drill, bit, brackets and rails or shelf clips and a handsaw
The basic job: You'll spend the most time screwing brackets and uprights into the wall.
Where to find directions: Go to acehardware.com /infohome and select Project How-To's; then scroll down and click on Building Shelves.
Tip: Avoid installing shelves if your family room is small. They can make tiny rooms too cozy.
THE DINING ROOM: REPLACE THE OVERHEAD FIXTURE
Do-it-yourself: $39 to $300 for the lamp; $40 for tools
What you'd pay a pro: $700
Skill level: 2/4
Time: 4 hours
Do this if... You haven't replaced the lighting in years, and it's not meant to look antique. Brass should definitely go, says Berlin, since "that springs cheap."
Payoff: "Good lighting is critical, especially in the dining area," says realtor Camp. "The right chandelier sets the tone and makes a dramatic impact on the buyer."
What sells a house best: Think universal appeal. In other words, don't go all Liberace if your house is country-style. Also, beware of an oversize or undersize fixture, which can make the room seem out of proportion. Use your dining table as a judge: The chandelier's diameter should be 12 inches less than the table's width.
You need: Chandelier (stick to models that are less than 30 pounds - heavier ones require a fan brace to support, "and you're better off hiring a pro to install that," says carpenter Crowe), metal outlet box, wire nuts, electrical tester, electrical tape, safety goggles, bulbs and wire cutter
The basic job: First you must shut off the circuit breaker. In most homes you'll be able to hang a lightweight chandelier from an existing electrical box (more likely if it's metal). Expose the wires and unscrew the wire nuts to remove the previous fixture; then match up the wires from the lamp with the wires in the box.
Where to find directions: Go to lowes.com and select How-To Projects from the Project Center pulldown menu, then Lighting and Electric from the menu at left.
THE MASTER BATH: ADD GLASS SHOWER DOORS
Do-it-yourself: $300 to $800 for the glass-door kit; $70 for tools
What you'd pay a pro: $1,150
Skill level: 3/4
Time: 4 hours
Do this if... The room isn't particularly spacious. "A curtain divides it and makes it seem smaller," says Camp.
Payoff: Because the eye doesn't stop at the curtain, "glass doors give the appearance of more open space," Camp adds.
What sells a house best: Frameless doors, which have a clean, spa-like look. Thing is, these are hell to install on bathroom walls that aren't quite flush. Framed doors, while less ideal, are still an improvement on a curtain. If you plan to live in the house while you're trying to sell, you might consider frosted glass, "especially if your neighborhood has hard water," says Crowe. "Clear glass will show the soap scum."
You need: Caulk gun, silicone adhesive (waterproof caulk), file, hacksaw, drill, bit, punch, miter box and anchors
The basic job: You'll attach the bottom track with adhesive, then drill in the bottom and side tracks. After you install the door and panels, you'll put in the top tracks; finish by sealing the tracks with waterproof caulk.
Where to find directions: Read the paperwork that comes with the door kit - every model is different.
Tip: Pick out doors in person, visiting the showroom with dimensions in hand. Do you really want to mail back a glass door ordered online?
Are you interested in selling your home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Published By Yahoo Finance
Provided By Money on CNNMoney.com
Make your home more appealing to buyers (and yourself) with these easy indoor upgrades you can do on your own.
THE ENTRYWAY: TILE THE FLOOR
Do-it-yourself: $200 for tiles (four feet by four feet); $65 for tools
What you'd pay a pro: $1,000
Skill level: 2/4
Time: 1 day
"The foyer is the buyer's first impression of your house," says Sid Davis, author of Home Makeovers That Sell. "If people walk in and see a bad floor, they're going to wonder, 'What else is wrong with this dump?'"
Do this if... Your neighbors all have tile entries and you don't. And definitely if you have carpeting or linoleum, says carpenter Rick Crowe of Albany, N.Y. "The cheapest ceramic tile has more curb appeal than the most expensive linoleum."
Payoff: A buyer's first impression will be a good one. "Tile makes a house look worth something," says Adam Berlin, a contractor in Littleton, Colo. and host of DIY network's Sweat Equity.
What sells a house best: Anything that looks like stone, says Berlin. "Natural stone is timeless - everybody wanted it 2,000 years ago in Rome, everybody wants it now."
It's also pricey ($4 and up per square foot); porcelain is a durable, cheaper alternative ($2.50 and up) that can look similar.
You need: Tiles, spacers, adhesive, notched trowel, grout, sealer and plywood
The basic job: You must pull up the old flooring and install a layer of plywood. Then glue, grout and seal. The hardest part is cutting the tile, which you'll likely have to do around borders. Ask the tile store if it provides this service for free.
Where to find directions: Go to doityourself.com/miscellaneousfloor.
Tip: Go for six-inch tiles or bigger. The less grouting there is, the easier cleanup will be.
THE KITCHEN: PAINT THE CABINETS
Do-it-yourself: $135 for tools and paint supplies; $5 and up per knob
What you'd pay a pro: $1,200, refacing; $5,000, replacing
Skill level: 2/4
Time: 2 days
"You'll make or break your sale in the kitchen," says Sid Davis, author of Home Makeovers That Sell. "It's the first room people head to when they look at a home, and if it doesn't meet their expectations, forget it."
Do this if... You're selling soon. You won't recoup the cost of fully replacing shabby cabinets with new ones (that's $5,000 and up). Refacing them is harder and costly too ($1,000-plus). A coat of paint, on the other hand, can cheaply do a lot to spiff up what you have, even if it's a bit of a cosmetic fix. "Over the long run, it'll chip and wear," cautions contractor Berlin. But hey, that's someone else's problem.
Payoff: "If buyers like your kitchen, they will go through the rest of the home," says Davis.
What sells a house best: Neutral colors like white or brown, suggests Berlin
You need: Drill, bits, tarp, sandpaper, primer, oil-based or latex acrylic paint or stain, paintbrushes (avoid rollers because they can add unwanted texture) and knobs
The basic job: On the first day, you'll remove the cabinets, sand them and apply primer. Wake up the next morning and paint or stain. Add fresh hardware to make them look brand new.
Where to find directions: doityourself.com/stry/paintcabinets
THE FAMILY ROOM: BUILD BOOKSHELVES
Do-it-yourself: $500 for two six-foot-by-eight-foot oak shelves; $200 for tools
What you'd pay a pro: $1,200
Skill level: 1/4 (fixed shelves); 3/4 (adjustable)
Time: 1.5 days
"Since about 20 years ago, when builders started putting in family rooms off kitchens, these spaces have really come up in importance," says Sid Davis, author of Home Makeovers That Sell.
Do this if... You have an odd nook that otherwise would seem like wasted space - say, under the stairwell or alongside the fireplace - or You need: to add dimension and character to a room that lacks any architectural detailing.
Payoff: "You'll give the buyer an idea of how the space can be used," says realtor Camp.
What sells a house best: Hardwoods like oak ($10 a linear foot) and mahogany ($12) are sturdier and more appealing to buyers than cheaper fiberboard and particleboard (both $15 per eight-foot piece).Fixed shelves are beloved by realtors and designers for their clean look. Read: no unsightly brackets.
But there's also a case for adjustable. "Some people will have vases, others books," says New York City interior designer Chris Coleman. "This gives the buyer some flexibility." As for color, aim for innocuous - natural woods or woods painted off-white or beige are best.
You need: Precut wood, drill, bit, brackets and rails or shelf clips and a handsaw
The basic job: You'll spend the most time screwing brackets and uprights into the wall.
Where to find directions: Go to acehardware.com /infohome and select Project How-To's; then scroll down and click on Building Shelves.
Tip: Avoid installing shelves if your family room is small. They can make tiny rooms too cozy.
THE DINING ROOM: REPLACE THE OVERHEAD FIXTURE
Do-it-yourself: $39 to $300 for the lamp; $40 for tools
What you'd pay a pro: $700
Skill level: 2/4
Time: 4 hours
"People who do a lot of entertaining will pay attention to this room," says Jay Fellhauer, a ReMax agent in Grand Junction, Colo.
Do this if... You haven't replaced the lighting in years, and it's not meant to look antique. Brass should definitely go, says Berlin, since "that springs cheap."
Payoff: "Good lighting is critical, especially in the dining area," says realtor Camp. "The right chandelier sets the tone and makes a dramatic impact on the buyer."
What sells a house best: Think universal appeal. In other words, don't go all Liberace if your house is country-style. Also, beware of an oversize or undersize fixture, which can make the room seem out of proportion. Use your dining table as a judge: The chandelier's diameter should be 12 inches less than the table's width.
You need: Chandelier (stick to models that are less than 30 pounds - heavier ones require a fan brace to support, "and you're better off hiring a pro to install that," says carpenter Crowe), metal outlet box, wire nuts, electrical tester, electrical tape, safety goggles, bulbs and wire cutter
The basic job: First you must shut off the circuit breaker. In most homes you'll be able to hang a lightweight chandelier from an existing electrical box (more likely if it's metal). Expose the wires and unscrew the wire nuts to remove the previous fixture; then match up the wires from the lamp with the wires in the box.
Where to find directions: Go to lowes.com and select How-To Projects from the Project Center pulldown menu, then Lighting and Electric from the menu at left.
THE MASTER BATH: ADD GLASS SHOWER DOORS
Do-it-yourself: $300 to $800 for the glass-door kit; $70 for tools
What you'd pay a pro: $1,150
Skill level: 3/4
Time: 4 hours
"If you're going to put money into a home, you should start in the rooms with running water," advises Adam Berlin, a contractor in Littleton, Colo. and host of DIY network's Sweat Equity.
Do this if... The room isn't particularly spacious. "A curtain divides it and makes it seem smaller," says Camp.
Payoff: Because the eye doesn't stop at the curtain, "glass doors give the appearance of more open space," Camp adds.
What sells a house best: Frameless doors, which have a clean, spa-like look. Thing is, these are hell to install on bathroom walls that aren't quite flush. Framed doors, while less ideal, are still an improvement on a curtain. If you plan to live in the house while you're trying to sell, you might consider frosted glass, "especially if your neighborhood has hard water," says Crowe. "Clear glass will show the soap scum."
You need: Caulk gun, silicone adhesive (waterproof caulk), file, hacksaw, drill, bit, punch, miter box and anchors
The basic job: You'll attach the bottom track with adhesive, then drill in the bottom and side tracks. After you install the door and panels, you'll put in the top tracks; finish by sealing the tracks with waterproof caulk.
Where to find directions: Read the paperwork that comes with the door kit - every model is different.
Tip: Pick out doors in person, visiting the showroom with dimensions in hand. Do you really want to mail back a glass door ordered online?
Are you interested in selling your home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Monday, May 24, 2010
MAY BRINGS 2010'S LOWEST MORTGAGE RATES
Written By Nathan Becker
Published By The Wall Street Journal
Home-mortgage rates fell to the lowest level of the year in recent days as Treasury yields slumped due to investors seeking a haven following last week's stock-market turmoil, according to Freddie Mac's weekly survey of mortgage rates.
Mortgage rates tend to follow Treasury yields. The benchmark 10-year note dropped to a five-month intraday low last Thursday as the Dow Jones Industrial Average suffered an intraday drop of nearly 1,000 points.
The latest week was the fifth in a row that interest rates on fixed-rate mortgages fell, noted Freddie Chief Economist Frank Nothaft.
The 30-year fixed-rate mortgage averaged 4.93% for the week ended Thursday, down from last week's 5% average but up from 4.86% a year ago. Rates on 15-year fixed-rate mortgages were 4.3%, compared with 4.36% and 4.27%, respectively.
Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.95%, a low since Freddie began tracking such mortgages in early 2005, down from last week's 3.97% and 4.82% a year earlier. One-year Treasury-indexed ARMs were 4.02%, down from 4.07% and 4.71%, respectively.
To obtain the rates, the 30-year fixed required payment of an average 0.7 point and the other mortgages required an average 0.6 point. A point is 1% of the loan amount, charged as prepaid interest.
Are you interested in hearing more about how mortgage rates lowered this year? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Published By The Wall Street Journal
Home-mortgage rates fell to the lowest level of the year in recent days as Treasury yields slumped due to investors seeking a haven following last week's stock-market turmoil, according to Freddie Mac's weekly survey of mortgage rates.
Mortgage rates tend to follow Treasury yields. The benchmark 10-year note dropped to a five-month intraday low last Thursday as the Dow Jones Industrial Average suffered an intraday drop of nearly 1,000 points.
The latest week was the fifth in a row that interest rates on fixed-rate mortgages fell, noted Freddie Chief Economist Frank Nothaft.
The 30-year fixed-rate mortgage averaged 4.93% for the week ended Thursday, down from last week's 5% average but up from 4.86% a year ago. Rates on 15-year fixed-rate mortgages were 4.3%, compared with 4.36% and 4.27%, respectively.
Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.95%, a low since Freddie began tracking such mortgages in early 2005, down from last week's 3.97% and 4.82% a year earlier. One-year Treasury-indexed ARMs were 4.02%, down from 4.07% and 4.71%, respectively.
To obtain the rates, the 30-year fixed required payment of an average 0.7 point and the other mortgages required an average 0.6 point. A point is 1% of the loan amount, charged as prepaid interest.
Are you interested in hearing more about how mortgage rates lowered this year? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
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