CHICAGO (MarketWatch) — The volume of mortgage applications filed last week dropped a seasonally adjusted 2.1%, compared with the previous week, the Mortgage Bankers Association reported on Wednesday.
Mortgage interest rates were flat during the week ended Feb. 12, compared with the week before, according to the MBA’s weekly survey. The survey covers about half of all U.S. retail residential mortgage applications.
Applications filed to refinance an existing mortgage fell an unadjusted 1.2% from the previous week. Home-purchase mortgage applications fell a seasonally adjusted 4.0%.
The four-week moving average for all mortgages was up 1.1%.
Refinance applications made up a 69.3% share of all applications, down slightly from 69.7% the previous week. Adjustable-rate mortgages made up a 4.4% share of activity, down from 4.5% the previous week.
Commercial remortgage is just like a residential remortgage. Commercial remortgage can occur for many reasons. It can happen because the business owner wants to borrow money, they want to make improvements to the property or they want to try for a lower interest rate.
Whatever the reason commercial remortgage should be handled with the same care that would be given to a residential remortgage.
If a business owner is going to remortgage to take out additional money they need to really consider what this means. They will be financing more so they will be paying more. They should ensure that they will be able to afford it.
They should be pretty secure about their business finances and be confident that they will continue to have regular, good sales. Additionally, they should try for a lower interest rate at the time or remortgaging so they can try to reduce the additional costs. Read more…
ALBANY — A plan to build five rowhouses in the Center Square section of Albany has received planning board approval — and now needs an OK from a city historic preservation panel.
The rowhouse plans by Crisafulli Associates were previously shown to the Historic Resources Commission. On Wednesday, Crisafulli will present a design tweaked to conform to the prior board recommendations.
The rowhouses — all single-family homes — would be built on an empty lot at 187-193 Jay Street, adjacent to the Knickerbocker Apartments.
The project would be a relatively rare example (at least in the Capital Region) of urban in-fill housing.
Renderings of the project show flat-roofed structures with steep stoops and jutting windows.
Each home includes a street-facing garage.
Michael J. Crisafulli, vice president of the Latham development company, on Friday said construction could begin by spring if commission approval comes quickly.
BOSTON (MarketWatch) — While rumblings from China and Europe have captured investors’ attention in recent weeks, an exchange-traded fund tracking U.S. home-builder stocks has quietly established itself as the best-performing sector fund so far this year.
The choppy rally in home-builder shares has taken place amid fourth-quarter earnings reports, while this week investors will get reports on builder confidence and housing starts.
What to do when market volatility strikes? WSJ’s Intelligent Investor columnist Jason Zweig says unless you’re a real investment professional — and maybe even then — sometimes the best trading move is not to trade at all.
Through Feb. 11, the iShares Dow Jones U.S.
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RICHMOND, Va. (AP) — Opponents of mountaintop removal coal mining gathered in Virginia and Kentucky on Thursday in support of bills that would ban coal companies from dumping the rock and rubble they blast off the tops of mountains into nearby streams.
In Virginia, opponents were outnumbered by coal miners and industry supporters, many of whom drove up to six hours to attend a public hearing on a bill they said would put them out of work.
It was the first time legislation was introduced to curb surface mining in Virginia. Similar efforts in Kentucky have failed the last five years. No action was taken on the bills.
Supporters of the bills said mountaintop mining has scarred vast swaths of Appalachia and ruined waterways.
NEW YORK (MarketWatch) — Treasury prices fell Wednesday, pushing long-term yields up for a third day, after Federal Reserve Chairman Ben Bernanke led investors to expect the central bank to slowly step back from its ultra-easy monetary policy.
Also weighing on bonds, the government received lackluster demand at its sale of 10-year notes, which traders attributed to worries about the East Coast snowstorm and concerns about monetary-policy moves.
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Yields on 10-year notes /quotes/comstock/31*!ust10y (UST10Y 3.70, +0.06, +1.76%) rose 6 basis points to 3.70%. A basis point is
Whether you’re a burgeoning empire builder or simply want to have a successful home-based business, having a steady stream of ideal clients flowing in is essential to your success.
Problem is, many entrepreneurs make the process of getting new clients into a bigger deal than it needs to be. It’s actually really simple, once you know which basics to put into place.
Thing to keep in mind is this: people are happy to invest in you and your services if you are clear and confident about how you can help them. That means getting focused on your niche, making sure you can clearly talk about the results you deliver and making certain you have a step-by-step program you take clients through.
These are the same business essentials you must do over and over. Like shampoo, you know? “Rinse and repeat.” It doesn’t matter whether you’re brand new, have been in business for a year or are preparing to launch the next income stream of your growing empire; these essentials never change.
Read more…