Morning Briefing: Mortgage rates little changed

by Steve Randall26 Jun 2015
Mortgage rates little changed
Mortgage rates for last week were much the same as the previous week according to the Freddie Mac Primary Mortgage Market Survey. The average rate for a 30-year fixed rate mortgage was 4.02 per cent, up 0.02 while 15-year FRMs averaged 3.21 per cent, down 0.02. Adjustable rate mortgages averaged 2.98 per cent (down 0.02) for a 5-year loan and 2.50 per cent (down 0.03) for a 1-year loan.

Sean Becketti, Freddie Mac’s chief economist said: “Economic releases confirmed increasing strength in housing. Buyers appear anxious to purchase homes before the expected increase in interest rates later this year."
Montana brokerages merge, rebrand
Montana real estate brokerage Trails West Real Estate has announced its merger with West Venture Real Estate and PureWest Christie’s Real Estate. All of the offices will be rebranded as PureWest Real Estate. The deal creates the largest locally owned and independent brokerages in the state of Montana including 18 office locations with further expansion plans into new markets. “When I first investigated merging, I found West Venture and Trails West both had similar values and leadership.   Both companies strive to have a family feel that only local owner operators can provide. We are excited to have one dominate office and brand throughout the valley and beyond to provide the best possible service to our clients and hard working agents,” says Sean Averill, co-owner of Pure Real Estate Group, the parent company to all three brokerages.
Supermodel sells superhome
Elle MacPherson is selling her luxurious home in Aspen, CO for $35 million. The listing is being handled by Douglas Elliman’s Joshua Saslove and the home was formerly owned by Saudi Prince Bandar bin Sultan. The New York Post says the home sits in 66 gated acres in the Starwood community and has 7 bedrooms and 10 bathrooms. The home also boasts an indoor pool, steam room, hot tub, juice bar, gym and two elevators, while outside features a water wall and landscaped gardens.  



Is TILA-RESPA a good or bad thing long term?