Interest Rates Move Strongly Downward
On Jun 12, interest rates moved downward following a well-received 30-year Treasury auction. The most commonly quoted rates are:
• 30-year fixed at 4.25%
• 15-year fixed at 3.375%
• FHA/VA at 3.75%
• 5-year ARMs at 3.0 to 3.5%
Low rates seem to be the norm for now.
What Today’s Renters Want
There are only two shorts this week, as this one is a bit longer and in two parts.
1. Survey of renters shows they most want:
a. To pay using debit and credit cards.
b. Fitness centers.
c. Wireless Internet access.
d. Open floor plans.
e. Pet perks, like pet park or walking areas.
f. Safe and ample parking.
2. What they’re considering when choosing location:
a. Transportation needs.
b. Safe neighborhoods.