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Mortgage News
First-time Buyers Fall for Existing Homes
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First-time
buyers helped drive Existing Home Sales higher in September after two
straight monthly declines. Home sales jumped 3.2 percent from August with
34 percent of purchases made by first-time buyers, the highest level in
four years. All major regions saw an increase in closings, the National
Association of REALTORS®
reported.
New Home Sales rose from August to September as well, although the 3.1
percent increase came after August was revised lower to 575,000 units
from the 609,000 originally reported. The good news is New Home Sales are
up nearly 30 percent from September 2015. New home inventory is still
running below what is considered normal levels.
New Construction Also on the Rise
Single-family Housing Starts, which account for the largest share of
residential housing, surged 8.1 percent from August to September,
offering a glimmer of hope to regions challenged by limited inventory.
Overall, though, September Housing Starts slipped 9 percent from August
to the lowest level in 18 months, dragged down by a significant decrease
in multifamily starts. Building Permits, a sign of future construction,
rose 6.3 percent from August.
Home prices continued upwards throughout much of the country. Data
analytics firm CoreLogic reported that home prices rose 6.3 percent from
September 2015 to September 2016, and prices were also up 1.1 percent
from August to September.
The good news for homebuyers is that tame inflation and tepid economic
growth have helped keep home loan rates near historic lows, which helps
offset rising home prices. When inflation rises, for example, it can
impact home loan rates because inflation reduces the value of fixed
investments like Mortgage Bonds, to which rates are tied.
While Mortgage Bonds and home loan rates worsened in the immediate aftermath
of the election, for now, home loan rates remain near all-time lows.
If you have any questions about home financing, please let me know. Be
sure to watch for next quarter's issue of Homes & Money Newsletter
coming to you in February 2017.
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Did You Know?
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The
Guinness World Record for hottest chili pepper is held by the
Carolina Reaper, rated at 1,569,300 Scoville Heat Units (SHU). By
comparison, habanero chili peppers are rated up to 350,000 SHU.
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Finance News
3 Surprising Amenities You Might Soon Find at Your Grocery
Store
By
Janine Puhak, Kiplinger.com
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Next time you run to
the grocery store for milk or bread, consider staying for Zumba and a
pedicure. From coast to coast, major grocers are introducing in-store
amenities. What you may find:
Health and spa services. Exercise is one of
the few things you can't buy online, and grocery stores are filling the
void. Squeeze in a yoga, barre or Zumba class at ShopRite before
shopping, or treat yourself to a facial, massage, wax or mani-pedi at a
Whole Foods spa. Polish your culinary skills with a healthy-cooking class
at Publix or Giant.
Home improvement. Ace Hardware has partnered
with grocers in the Midwest and South to open hardware
stores-within-a-store that offer 86% of the chain's typical product
selection. Among the best-selling items at the grocery locations: lawn
and garden supplies, plumbing equipment, seasonal merchandise, and tools.
Free child care. You won't need to worry
about kiddie meltdowns in the cookie aisle at Kroger and ShopRite. Both
stores offer free child care at select locations while you shop.
 Reprinted
with permission. All Contents ©2016 The Kiplinger Washington Editors. Kiplinger.com.
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Quote of the Day
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 Whether you
think you can or you think you can't, you're right.
– Henry Ford
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Creative
Cuisine
Honey
and Spice Poached Pears
(Serves 4)
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Ingredients:
- 4
ripe yet firm pears, Bosc or Bartlett
- 4
cups water
- 1/3
cup honey
- 1/3
cup sugar
- 4-inch
piece fresh ginger, sliced
- 1
teaspoon whole cloves
- 1
star anise pod, halved
- 1
cinnamon stick, halved
Peel the pears, then cut in half
lengthwise. Core each pear half with a melon baller or spoon.
Add the water, honey and sugar to a 4-quart pot. Bring to a boil,
stirring occasionally. Once the sugar and honey are dissolved, add the
ginger, cloves, star anise and cinnamon stick. Reduce to simmer and add
the pears. Cover and cook for 20 to 30 minutes until pears are tender and
easily pierced with a fork.
Serve each pear in a bowl with a little of the poaching liquid (strained)
and a scoop of vanilla ice cream.
Source: Kitchn
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Home News
Not Dishwasher Safe
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Dishwashers are big
time-savers in most busy households, but not everything in your kitchen
can withstand the high heat and detergent.
Cast iron will lose its seasoning in
the dishwasher. While the pan is still hot or warm, wash it by hand using
hot water and a sponge or stiff brush, then towel dry. Stubborn residue
may be loosened by boiling water in the pan.
Good knives can dull in the
dishwasher, so hand-washing them is best.
Wood utensils can warp from high heat.
And cutting boards with glued pieces can heat up, expand and separate.
Insulated mugs can separate at seams,
allowing water into chambers that are supposed to contain only air.
Nonstick pans can lose their coatings,
and are usually a dishwasher no-no. Double check manufacturer
instructions.
Anything of value, including family
heirlooms, crystal, china or tableware with gold plating, should be
hand-washed ... just in case.
Copper pans should be hand-washed, or
the color could transform from shiny penny to rusty cent.
Plasticware typically warps and
changes shape, unless the manufacturer says otherwise.
Disposable aluminum items like lasagna and
turkey pans can shed material creating a black residue on the pan and
everything else in the dishwasher. These are best thrown out after use.
Cheese graters are best washed by hand
because the water in a dishwasher typically isn't concentrated enough to
clean between those tiny spaces.
Pet bowls may contain germs that
could be unfriendly to other family members.
Sources: Reader's Digest, Kitchn
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Book Review
"Sully: My Search for What Really Matters"
By
Chesley B. "Sully" Sullenberger III
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 On January 15, 2009,
US Airways Captain "Sully" Sullenberger was forced to make an
emergency landing of his failing aircraft on the Hudson River. His
unconventional decision preserved the lives of 155 passengers and crew
members who sustained only minor injuries.
This story presents how Sully's training and dedication resulted in not
just this singular act of valor but the creation of successful lessons
discovered through his life, career and contributions to safety in the
airline industry.
Captain Sully estimates he's safely carried over a million passengers in
his flying career. And with this book, he transports all of us to higher
aspirations.
A two-time New York Times best seller—and now a major motion
picture from Clint Eastwood, starring Tom Hanks—you can find "Sully" on Amazon or by
visiting your favorite local bookseller.
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Street Smarts
Prep for a Power Outage
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No matter the season
or location, extended power outages can happen without warning, leaving
homeowners inconvenienced and sometimes stuck. Here are four must-haves
to be prepared:
Food and water for one week
should be first priority. While grocery stores may not close, roads
might. Stockpiling non-perishable food, canned goods and even camping
MREs (Meals Ready to Eat) makes sense.
Backup cooking and lighting sources
are crucial. Camping stoves, firewood, candles, matches and flashlights
with batteries are good to have on hand.
Hard copies of digital records,
such as phone numbers or account numbers, will save you from having key
information locked in a digital device you can't access.
A backup generator that automatically
switches on in case of a power outage is an option worth considering.
Source: HouseTopia
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Facts & Figures
Cold Hard Facts
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These
snowfall records and other winter facts may give you a shiver:
Unlike other butterflies, monarch butterflies cannot survive cold
winters. Instead, they migrate south, sometimes travelling 50 to 100
miles a day.
Contrary to the saying that no two snowflakes are alike, scientist Nancy
Knight found two identical examples while studying snow crystals from a
storm in Wisconsin.
Mt. Baker Lodge experienced 1,140 inches (95 feet!) of snowfall in the
1998-1999 season, the greatest seasonal snowfall on record.
Valdez, Alaska, known as the snowiest city in the U.S., averages 326.3
inches of snow each year.
Silver Lake, Colorado holds the record for the most snowfall in a 24-hour
period in the U.S., coming in at 75.8 inches on April 14-15, 1927.
Sources: Guinness Book of World Records, National Forest
Service, The Weather Channel
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Trivia Challenge
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Match
these vintage winter favorites to one of the singers who
made them famous.
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- Let It
Snow
- I've
Got My Love To Keep Me Warm
- Button
Up Your Overcoat
- Frosty
the Snowman
- Winter
Wonderland
- Marshmallow
World
- Suzy
Snowflake
- Baby,
It's Cold Outside
- Moonlight
in Vermont
- Jingle
Bells
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- Margaret
Whiting
- Rosemary
Clooney
- Helen
Kane
- Les Brown
- Dinah
Shore and Buddy Clark
- Glenn
Miller and His Orchestra
- Vaughn
Monroe
- Guy
Lombardo
- Bing
Crosby
- Gene
Autry
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For answers, see below.
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Thank You
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As
always, we wish to thank our clients who have been kind enough to
refer business to us. We appreciate the opportunity to provide
excellent service to your family, friends and co-workers.
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Trivia Answers
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A-7, B-4, C-3, D-10, E-8, F-9, G-2, H-5, I-1, J-6
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