Freddie Mac reports that for a 30 year conventional fixed-rate mortgage, the national average rose to 4.34 percent in March. The rate a year ago was 3.57 percent. Seems with all the numbers above that the national housing market has reached a steady gain/loss ratio. With interest rates on the rise, existing inventory may continue to increase nationally, thus creating a lull in sales. Mortgage loan qualifying guidelines have become more stringent which has decreased the buyer pool to more serious buyers. Pre-qualifying has become a must for purchasing a home. NAR is still predicting interest rates to be at 5 percent or above by the end of the year. Take advantage of the lower rates now and buy!
Some local May events in Greenville.
- May 3rd, 10th Annual Reedy River Duck Derby. Watch while adopted ducks race for charity. Begins at 10 am.
- Downtown Line Dancing every Tuesday night in May. Starts at 6:15 pm at the Sears Recreation Center.
- May 15th BMW Charity Pro-Am golf event. Starts at 7 am at the Green Valley Country Club, Thornblade Club and The Reserve at Lake Keowee. Supports 25 upstate charities.
- May 22nd, The 2014 ACE Awards at Redemption World Outreach Center. Starts at 6:15 pm. Adults $25, Students $10. Reception later that evening at 8 pm.
Tip for the Week
Thinking about replacing your hot water heater? You might want to think tankless. These are smaller units, usually placed on the outside of your home, that require gas in order to operate. The tankless water heater is more efficient than a tanked version and uses less energy. You could see a $25 to $100 savings per year. Savings will depend on hot water use. Using less than 41 gallons a day gets a 24 to 34 percent efficiency rating. Using more lessens your efficiency rate proportionately. Systems using gas cost around $1500 to buy and install. Electric systems are cheaper but are not as efficient. Consult with your local gas or electric company on what their options are for tankless water heaters and what your costs and savings could result.
This week we take a look at The Beaded Frog in downtown Greenville. Located on north main street, it is a unique place carrying all kinds of supplies for creating jewelry and bead work. They sell hand-crafted jewelry, have teaching classes to help you create your own, carry tools and supplies and you can host a beading party. Stop by and check them out, then leave us a comment below on your experience.
|The Beaded From on North Main Street in Greenville SC.|