Mortgage Rates Ease

This past week, mortgage rates have declined “as fears about the economic

Graph via the Wall Street Journal
This past week, mortgage rates have declined “as fears about the economic impacts of turmoil in the Middle East helped depress yields on long-term bonds, including those that fund most home loans,” according to Inman News and a survey by Freddie Mac.

The Wall Street Journal reported that the 30-year fixed-rate mortgage averaged 4.95%, down from last week’s 5% and 5.05% a year before.

Rates on 15-year fixed-rate mortgages were 4.22%, below last week’s 4.27% and the year-earlier average of 4.4%, as well.

After a spike in rates that hadn’t been so high since last April, this is promising for a downward trend in mortgage rates despite mixed overall economic reports.

Financial Fitness

This article about being financially fit has great advice for small, inexpensive ways to save more money over time with your home.

Several tips that stand out are:

1. Be fire ready – Check that your fire extinguishers are functioning and easily available, and check your smoke detectors as well.

2. Prevent shocks – Outlets near water, such as in the bathroom or kitchen, should have a ground fault circuit to prevent shocks and electrocution. An inexpensive tool can alleviate this worry.

The major takeaway from this is that by making small investments in your home, you save yourself more in the long-run and protect the value of your property.

Full article here.