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U.S. rate on 30-year mortgage rises to 3.63 percent

March 16, 2013

WASHINGTON (AP) — The average U.S. rate on the 30-year fixed mortgage rose this week to its highest level in seven months but remains near historic lows....

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lightswitch

Mar-31-13 9:47 PM

This right now is a very slight increase but every increase narrows to some degree what the purchase price can be. A large increase reduces the number of people who can afford various price points. When interest rates decrease the purchase price becomes more affordable to more people. Now in Cape Coral, Fl utilities such as water and sewer which are very high actually effect the resale price. Now couple that with an additional tax on electricity which has plenty of tax and a franchise fee going to the city will have an effect. A fire district charge on top of what is already being charged to support a $25 million dollar fire dept.. Which is said to not be able to exist on what it takes in now will effect real estate resale and affordability. The fact that the city can not generate private business with high wages so it says it is marketing to retirees on fixed incomes. Is just a contradiction. This entire marketing buiding more homes, keeping supply high, demand low. Makes resale

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lightswitch

Mar-31-13 10:03 PM

contd. low. One the homes bought a large number will have a giant utility assessment on top of the normal taxes that will put many owners in the shadow of foreclosure if there is another economic turn down, or in the case of retirees if COLA is not extended. Your government employed neighbors who have council members to either insure more construction or more city employees to perform services at very costly wages and benefits don't care about you now or before. However you should care about them and their families. Lastly the city's change in marketing from WORKING families to retirees ensures a quicker housing turn over at way less than national home value when their heirs are forced to sell. Receivership of this city is not so far fetched and it would bring the correct numbers of government employees and a correct ration of cost of wages and benefits. I did not even mention the subsidizing of business expenses by the residential taxpayers. (The ones who have guaranteed increas

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