Mortgage rates slightly higher this week
Average rates for 30-year fixed rate mortgages rose in the week to April 14 according to Zillow. Borrowers were quoted rates of 3.58% Tuesday, up 3 basis points from a week earlier. 15-year fixed rates were at 2.87% while 5/1 ARM’s were at 2.83%.
Erin Lantz, Zillow’s vice-president of mortgages said that rates rose during the week as expectation for the U.S. economy grew despite the weaker jobs data Friday. Rates were expected to rise slightly higher again during the next seven days.
Million Dollar Listing star shares his secrets
Frederik Ekland, the star of Million Dollar Listing New York has decided to share his secrets with others hoping to make a fortune from property sales. His new book is part life-story and part business-guide from the guy who sold $3.5 billion of New York real estate over a ten year period.
Ekland told the New York Daily News that last week he was out with Jennifer Lopez showing her $20 million apartments. Ekland’s book The Sell: The Secrets of Selling Anything to Anyone is out now and Million Dollar Listing New York is back on TV this week.
Old parking garage becomes real estate hot spot
A run down city-owned parking garage has become the hottest property in Boston after eight competing developers proposed plans to revitalize it. The lot in the heart of the city’s financial district could end up with a tower as high as Hancock Tower, Boston’s current tallest.
The Boston Globe says that the city is already expecting to see new skyscrapers with proposals being considered for five buildings over 600 feet. All of the proposals for the parking garage lot include some residential space as city officials want to inject more night-time activity to the district.