Average 30-year mortgage rate up to 4.33%

Mortgage Rate Trend Index

Every economist polled this week by Bankrate.com predicted rates would either go down (50%) or remain stable (50%) over the short term thanks to weaker-than-expected housing reports. No economist predicted an increase.

WASHINGTON – Feb. 21, 2014 – Average U.S. rates on fixed mortgages rose this week but remained near historically low levels.

Mortgage buyer Freddie Mac said Thursday the average rate for the 30-year loan increased to 4.33 percent from 4.28 percent last week. The average for the 15-year mortgage edged up to 3.35 percent from 3.33 percent.

Mortgage rates have risen about a full percentage point since hitting record lows roughly a year ago. The increase was driven by speculation that the Federal Reserve would reduce its $85 billion-a-month bond purchases. Deeming the economy to be gaining strength, the Fed proceeded last month with planned reductions of its bond purchases, which have helped keep long-term interest rates low.

The housing market is expected to deliver another year of solid gains, helped by an improving economy. Most economists expect home sales and prices to keep rising this year, but at a slower pace. They forecast that both will likely rise by about 5 percent, down from double-digit gains in 2013.

Government data released Wednesday showed that U.S. home construction fell in January for a second straight month, but the weakness in both months reflected severe winter weather in many parts of the country.

In a similar vein, U.S. homebuilders’ confidence in the housing market declined sharply this month as the rough weather battering much of the nation keeps many would-be buyers at home, according to the National Association of Home Builders/Wells Fargo builder sentiment index issued Tuesday.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage was unchanged at 0.7 point. The fee for a 15-year loan also remained at 0.7 point.

The average rate on a one-year adjustable-rate mortgage rose to 2.57 percent from 2.55 percent. The average fee declined to 0.3 point from 0.4 point.

The average rate on a five-year adjustable mortgage increased to 3.08 percent from 3.05 percent. The fee held at 0.5 point.

Copyright © 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Posted by miamiforrussian.com

Tactics for overcoming Facebook’s new algorithm

MENLO PARK, Calif. – Feb. 24, 2014 – Facebook changed its algorithm back in December, causing a drop in shared links, pictures and posts. As a result, real estate agents have seen a dramatic drop in page reach and increasingly recognize that a “pay to play” strategy may be the best way to get in front of their target audience.

Under the new format, Facebook users can improve their feed and boost exposure by creating likable content – the kind of content that causes users to click the “like” button. The more “likes” a content provider gets, the greater the chance that their posts will show up on fans’ news feeds.

Agents also need to improve reactions, making it less likely that their messages will be ignored or marked as spam. To do that, they should avoid memes and test to see which time of day gets them the most views.

Finally, agents should give fans the type of content they prefer – and for many Facebook users, that’s videos and photos. However, everyone is different, making it important for agents to post about a variety of topics and to do so in different formats.

Source: RISMedia (02/20/14) Byrum, Erica Campbell

© Copyright 2014 INFORMATION, INC. Bethesda, MD (301) 215-4688

Reposted by miamiforrussian.com 

1 Hotel & Homes South Beach - Inside inspired by outside

Debora Aguiar came to this project with a near impossible task. To create interiors that would feel as beautiful and timeless as the exterior world.

From woods to washed fibers, she created textured environments with natural materials. Careful decisions were made about light and the way it interacts with space. Furniture and fixtures were moved and removed. Everything thoughtfully considered and carefully tested.

Setting each piece in place, she stepped back to see the space as a whole, inside and out. The result is an interior that doesn’t transition, but seamlessly progresses. It invites you to walk home from the beach without ever stepping into a space that feels unnatural.

Instead of attempting to out design nature, Debora found her solution by simply inviting more of it in.

For details call your new development expert Irina Kim Sang 305-562-5864.  Posted by www.miamiforrussian.com

Oceana Bal Harbour - A New Development GEM

BUILDING FEATURES

 240,000 Sq Ft of Land (5.5 Acres) – 400 feet of pristine beaches
 Last undeveloped ocean front lot in Bal Harbour
 Only new building which occupies less than 15% of its land – leaving 4.8 acres of open areas
 Stands 28 floors high with 240 total units
 Only building in Bal Harbour completely parallel to the beach with unobstructed Ocean & Bay views
 Created by world renowned Arquitectonica
 Interiors by famed Italian Designer Piero Lissoni
 Tranquil outdoor spaces cultivated by Enzo Enea
 Unprecedented breezeway of 60 feet high
 Vaulted 22ft lobby ceilings

 Underground parking

Please access an E-BROCHURE

AMENITIES
 Private restaurant on site
 Two clay tennis courts
 Spa and fitness center on two floors
 NFC spa management, (operators of Viceroy, Setai, Fontainebleau, Turnberry, Ritz)
 4 cabanas for residents to be reserved daily
 Gated entry, concierge service, valet service
 Private pools on UPH units
 Storage available for every unit
 Bike storage available
 Salon for events with full kitchen
 Billiard and ping pong areas
 Kids’ activity room
 Lounge, library area
 Private movie/media room
 Olympic Style Lap pool (aprox. 96x36ft)
 Recreational pool (aprox. 96x36ft)
 Two outdoor Jacuzzis
 Pool and Beach service
 Shabbat elevator functioning on service elevator

For personal assistance please- contact Irina Kim Sang, your Luxury expert in Miami, www.miamiforrussian.com, 305-562-5864