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:
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 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.
WOW! It's May already and time, once again, for the Old Pecan Street Festival on 6th Street. Artisans from all over the nation will be at the festival displaying their arts and crafts. In addition to the displays, there will be art classes where you can bring out the artisan in you.
Children (6 to 12) can also explore their talents at the Kids' Art Tent. Activities will be led by Austinite artist Lindsey Bailey. Lindsey will direct the children in creating colorful arts and craft designs which they can take home. The Kids' Art Tent is free to all participants. Capital One is sponsoring the Kids Art Tent as a means to educate Austin's youth and to introduce them to the world of art.
In case your feet may be feeling a little artistic after hearing all the great live music being presented on five stages, you can satisfy their need to express themselves at the free dance classes.
The Old Pecan Street Festival will be honoring the art of filmmaking at the PowerFlicker Short Film Showcase. Texas filmmakers will be presenting a collection of animated, comedy, documentary and narrative films from 3-6 pm on Saturday only as part of the festivities taking place in Austin.
The festival will also be presenting game booths, grilling demonstrations, a petting zoo for kids and a carnival for kids of all ages.
The Old Pecan Street Festival will be very green this year. It is not only honoring and encouraging the arts, but is also honoring and encouraging green living. There is no better way to encourage something than by practical application. A new element to the festival this year will be an Environmental Fair. The Environmental Fair will feature environmentally-friendly artists, educational workshops, organic foods, drinks and locally bottled spring water. Stop by the Transit Makeover booth to receive a free 7-Day bus pass. Transit Makeover will also have their new hybrid bus on display for everyone to check out. Your free bus pass will entitle you to a free drawing for Esther's Follies tickets. To enter the drawing, you will need to stop by one of the information booths.
One negative side to any festival is its debris. But, that will not be the case at the Old Pecan Street Festival. They have made a real effort to keep trash to a minimum with an aggressive recycling program. When looking to dispose of your trash, be sure to look at the signs above the trash containers. The signs will indicate what type of trash should be disposed of in each particular container, so that it may be recycled properly.
By the way, those of you who are not aware of Austin's history: the Old Pecan Street Festival is held on 6th Street because 6th Street was originally Pecan Street in the early days of Austin. The festival was named Old Pecan Street to honor Austin's early days. The Old Pecan Street Festival has been an Austin tradition for over 30 years and entrance to the festival is still free.
In January, I wrote a blog letting you know about Austin's Habitat for Wildlife program. Today, I want to tell you that the goal of that plan has been accomplished. The City of Austin has officially been named by the National Wildlife Federation as a community wildlife habitat. On March 12th, the City of Austin was awarded its Community Wildlife Habitat certification. The certification grants Austin the honor of being the largest metropolitan city in the nation and the first city in Texas to be certified by the National Wildlife Federation. The honor was received due to the participation of over 900 homes, 15 businesses, 14 parks, 25 schools and four churches that created habitats for Austin's wildlife
Austin has accomplished its goal to be certified as a Community Wildlife Habitat, but not its goal to create even more wildlife spaces within the city. You can still participate in Austin's Wildlife Habitat program. A wildlife space can be something as simple as a birdbath. You will be surprised at the rewards you will receive when giving little creatures a little space. In addition, you can receive your very own wildlife certification.
Congratulations, Austin! And a BIG high-five to all participants who have made Austin a Community Wildlife Habitat.
Shay Hargus, Austin Avenue Real Estate Company
P.S. Make your home stand out with an official Certified Wildlife Habitat sign in your yard.
Read More:
Austin's Habitat for Wildlife
Wildlife Austin
How to Create a Wildlife-Friendly Garden
Creating A Schoolyard Habitats
The South By Southwest 2009 Festival, more commonly known as SXSW, begins today in Austin, TX. This is one of Austin's biggest events of the year. Austin is known as the Live Music Capital of the world and there will be more music than usual until March 22nd, when the festival ends. Austin's Film and Music Festival Art will be presenting nearly 2,000 musical acts of all genres. A great opportunity to hear new "up and coming bands and musicians". SXSW also explores the art of independent filmmaking and interactive media.
SXSW began as a small musical festival 23 years ago. It is now one of the largest media events in the nation. The Austin Art and Music Festival (SXSW) offers discussions on the newest trends and showcases all of the best of independent films and music talent. It is not too late to register for this awesome event. Registration is being offered online until Monday (March 16th). Wear your comfy shoes because the events take place in various locations in downtown Austin.
SXSW will also be celebrated throughout the city with great music at local bars and restaurants. SXSW is an exciting and fun-filled time in Austin. The energy created by the event is indescribable, so be sure to get out there and ENJOY!
Shay Hargus, Austin Real Estate
For all the SXSW details: http://www.sxsw.com/home.
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:
Residential Realtor specializing in the sale of Homes, Condos, and Luxury Homes. Working extensively with with both local buyers, investors and buyers relocating to Austin, Texas and the surrounding a
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2013 ActiveRain Corp. All Rights Reserved
