Mashpee, MA

Owning a home in Mashpee MA, on Seconsett Island.
Joe Arnao, Destination Realty, 508-503-4435 joe@MyDestinationRealty.com

Owning a home in Mashpee, MA on Seconsett Island is a paradox. It is a faraway place that is close to everything. Jutting out into Waquoit bay and bordering Hamblin Pond, Seconsett Island is an oasis for boaters, kayakers, vacationers and anyone who loves the sea.

Owning a home in Mashpee, MA on Seconsett Island you will find nearby:
More than five miles of sandy beaches on Nantucket and Vineyard Sounds.
Four of the largest freshwater ponds on Cape Cod all for boating, swimming and fishing
Several Golf courses, including three world-class championship courses
Great shopping at Mashpee Commons, South Cape Village, Deer Crossing and a short drive to Falmouth Center.

If you kayak or want to take you boat to Martha's Vineyard which is only 4.5 miles away, then owning a home in Mashpee, MA on Seconsett Island is for you. There are public boat ramps along with the Little River Boat Yard.

View of Hamblin Pond from Seconsett Island

Data varies but it appears the population of those owning a home in Mashpee, MA on Seconsett Island is under 90 people with 141 housing units. The median home cost $344,000.00 according to Zillow. It is difficult to buy property on Seconsett Island as very little eschanges ownership. According to the Cape Cod and Islands MLS there were only 2 properties on Seconsett Island that sold in 2009. $179,000.00 for a 288 foot cottage and $1,200,000.00 3 bed oceanfront home.

 Little River Boat Yard on Seconsett Island

Owning a home in Mashpee MA on Seconsett Island is ideal for Boaters. Explore:
Five Islands in Hamblin Pond
Waquoit Bay
Washburn Island
Washburn Island State, Camp
South Cape State Beach
No bridge access to the ocean
Waquoit Bay National Estuarine Research Reserve
Hunting
Shell fishing
Trails

Even though owning a home in Mashpee, MA on Seconsett Island has its own beauty, the South Cape Beach, located between Waquoit Bay and Nantucket Sound, has barrier beach and dunes, salt marsh, woodland and "kettle" ponds and is only a short car ride away. A white sand beach stretches for over a mile. Over-the-dune boardwalks, a parking area and portable seasonal bathrooms make for a great day at the beach.

The Mortgage Interest Rate Lock Advisory for Mashpee MA for February 4, 2010

Here are some of the events affecting mortgage interest rates today in Mashpee, MA.

What Mortgage Backed Securities Are Doing Today:

• The price of the FNMA 30-Year 4.5% MBS coupon opened at 100.88 this morning - the same as yesterday's close.
  
  
• The 4.5% MBS coupon is currently trading at 100.06 - up 6/32 from its opening.

Price Trend in Mortgage Backed Securities:

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days from 1-4-2010 to 2-3-2010:

Remember, on mortgage backed securities (MBSs), as the price goes up, the yield comes down - and mortgage interest rates come down with it. I expect that mortgage interest rates will be 0.125% - 0.25% better in price this morning as compared to yesterday.

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today:

• Jobless Claims - 480,000 new claims for unemployment were filed last week, 25,000 more than expected, and 10,000 more than the previous week. Analysts predicted there would be 450,000 new claims. However, the four-week average fell 9,000 to 440,750. The four-week average has increased again by 11,750 to 468,750. This suggests that the labor market is no longer improving. While This data is usually not considered to be very important to the mortgage market; however, this led to lower mortgage interest rates this morning.
  
  
• The 4th Quarter Nonfarm Productivity and Cost Index - is up 6.0% for the 4th quarter of 2009, far short of the 7.0% increase that was expected. However, the report had little impact on the mortgage market this morning.
  
  
• Factory Orders Report for December - rose 1.0%, more than the 0.5% increase that was expected, and follows a 1.1% increase the previous month. It is similar to the Durable Goods Orders release that was posted late last week, except this report includes orders for both durable and non-durable goods. However, the report had little impact on the mortgage market this morning.

Learn more about the jobless claims and productivity report in this video from CNBC:

What's Happening With Mortgage Interest Rates Today:

Moderate to High Volatility. Mortgage interest rates are still at historic lows. There's not much potential for MBS prices to tick higher (lower mortgage rates) as the Fed begins winding down their stimulus programs soon as it appears the overall economy is improving. There's also the fear of inflation.

If you're happy with the rate being offered to you and don't want to risk mortgage interest rates moving higher, you should apply and lock in today. It's better to have locked when you should have floated than it is to float when you should have locked.

Mortgage interest rates are generally holding at currently levels. If you have not yet locked in your mortgage interest rate yet, please proceed with caution and maintain contact with your mortgage professional as mortgage interest rates can change for the worse.

Get current mortgage interest rates for your situation in Mashpee, MA.

The Mortgage Interest Rate Lock Advisory for Mashpee MA for January 8, 2010

Here are some of the events affecting mortgage interest rates today in Mashpee, MA.

What Mortgage Backed Securities Are Doing Today:

• The price of the FNMA 30-Year 4.5% MBS coupon opened at 100.06 this morning - the same as yesterday's close.
  
  
• The 4.5% MBS coupon is currently trading at 100.17 - up 3/32 from its opening.

Remember, on mortgage backed securities (MBSs), as the price goes up, the yield comes down - and mortgage interest rates come down with it. I expect that mortgage interest rates will be about the same in price this morning as compared to yesterday.

Price Trend in Mortgage Backed Securities:

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days from 12-8-2009 to 1-7-2010:

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today

• Employment Situation Report - nonfarm payroll fell by 85,000 in December, much worse than expected. Analysts expected a gain of 10,000 jobs. This follows a revised gain of 4,000 jobs in November and a loss of 127,000 jobs in October. The unemployment rate remains at 10.0%, the same as the previous month. This data has an initial positive impact on the mortgage market as mortgage backed securities rallied on the news, but prices of mortgage backed securities quickly fell after the initial rise.

Watch this video from MSNBC to learn more about the Employment Situation Report:

What's Happening With Mortgage Interest Rates Today:

Moderate to High Volatility. Mortgage interest rates are still at historic lows. There's not much potential for MBS prices to tick higher (lower mortgage rates) as the Fed begins winding down their stimulus programs soon as it appears the overall economy is improving. There's also the fear of inflation.

If you're happy with the rate being offered to you and don't want to risk mortgage interest rates moving higher, you should apply and lock in today. It's better to have locked when you should have floated than it is to float when you should have locked. If you have not yet locked in your mortgage interest rate yet, please proceed with caution and maintain contact with your mortgage professional.

Get today's mortgage interest rates for your situation in Mashpee, MA.

Home Value Update for Mashpee MA 02649 Through November 2009

According to Trulia.com, the current average listing price of homes on the market in Mashpee, MA is $611,960, while the current mean sales price of homes is $337,950. The sale prices of single family homes in Mashpee, MA have increased 30.5% in the past year through the end of November 2009.

Below is a chart of the trend of listing prices of homes for sale in Mashpee, MA, in the past year through November 2009:

Mashpee Recently Sold Homes

The $8000 first-time homebuyer tax credit has been extended, and now expires on April 30, 2010. So, there's no better time than now to buy a home in Mashpee, MA, or surrounding area. If you're looking for a home or condo to purchase in Mashpee, MA, or in the surrounding area, then try this home search.

You can still buy a home with no money down with a VA Loan or with a USDA Rural Development Home Loan. With the FHA Mortgage program, you can purchase a home with as little as 3.5% down. When you're ready to buy a home, find out how much home or condo you can afford to purchase in Mashpee, MA, or in the surrounding area.

If you're 62 or older and are looking for money to finance a home improvement, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses, then consider getting a reverse mortgage. Find out how a reverse mortgage can use the equity in your home to pay you.

The Mortgage Interest Rate Lock Advisory for Mashpee MA for December 14, 2009

Here are some of the events affecting mortgage interest rates today in Mashpee, MA.

What the Mortgage Backed Securities Market is Doing Today:

The price of the FNMA 30-Year 4.0% MBS coupon opened at 98.50 this morning - up 2/32 from Friday's close.

The chart below shows today's price trend of the FNMA 30-Year 4.0% coupon:

The FNMA 30-Year 4.0% MBS coupon is currently trading at 98.50 - the same as its opening, and up 2/32 from Friday's close. Remember, on mortgage backed securities (MBSs), as the price goes up, the yield comes down - and mortgage interest rates come down with it. I expect that mortgage interest rates will be the same as Friday.

The chart below shows the price trend of the FNMA 30-Year 4.0% coupon over the past 30 days:

Recent Activity in Mortgage Backed Securities:

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today:

• There are no economic reports scheduled for release today.

What's Happening With Mortgage Interest Rates Today:

Low to Moderate Volatility. Moderate to High Volatility. Overall, we can expect to see another volatile week in the financial and mortgage markets. We expect to see the biggest movements in mortgage interest rates on Tuesday with the release of the PPI, and on Wednesday with the release of the CPI and the FOMC meeting press release.

There's not much room for MBS prices to move higher or for mortgage interest rates to move lower at the moment. Mortgage interest rates are at historic lows. If you're happy with the rate being offered to you and don't want to risk mortgage interest rates moving higher, you should apply and lock in today. While there's still some room for MBS prices to tick higher, it's better to have locked when you should have floated than it is to float when you should have locked.

If you have not yet locked in your mortgage interest rate, please proceed with caution and maintain contact with your mortgage professional. Also, give very serious consideration to applying now and locking in before mortgage interest rates get worse.

My Mortgage Interest Rate Lock Advice for Today:

If I were considering financing/refinancing a home, I would...

• Lock if my closing was taking place within the next 7 days
• Lock if my closing was taking place between 8 and 30 days
• Float if my closing was taking place between 31 and 45 days
• Float if my closing was taking place between 46 and 60 days

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of any or all other borrowers.

Get the best available mortgage interest rates for your situation in Mashpee, MA!