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Weekly News (July 8, 2020)

This week’s Interest Rate (28th  Week) (By Fairway Asset )    30 yr fx(%)  15 yr fx(%) FHA(%) 10 yr Tr Y (%) A year ago      3.875       3.39     A month ago      2.999       2.750     3.250          0.814 Last week      2.875       2.375     2.625          0.674 This week […]

Weekly News (July 1, 2020)

This week’s Interest Rate (27th  Week) (By Fairway Asset )      30 yr fx(%)  15 yr fx(%) FHA(%) 10 yr Tr Y (%) A year ago      3.875       3.39     A month ago      2.999       2.750     3.250          0.672 Last week      2.899       2.375     2.625          0.750 This week […]

Weekly News (June 24, 2020)

This week’s Interest Rate (26th  Week) (Fairway Asset )    30 yr fx(%)  15 yr fx(%) FHA(%) 10 yr Tr Y (%) A year ago      3.875       3.39 A month ago      3.25       2.77 This week      2.899       2.375     2.625          0.750 (The rate based on 25% down payment with 740 above credit […]

Weekly News (June 17, 2020)

This week’s Interest Rate (25th  Week) (Fairway Asset )    30 yr fx(%)  15 yr fx(%) FHA(%) 10 yr Tr Y (%) A year ago      3.875       3.39 A month ago      3.25       2.77 This week      2.899       2.375     2.625          0.750 (The rate based on 25% down payment with 740 above […]

Weekly News (June 10, 2020)

This week’s Interest Rate (24th Week) (Fairway Asset )    30 yr fx(%)  15 yr fx(%) FHA(%) 10 yr Tr Y (%) A year ago      3.875       3.39 A month ago      3.25       2.77 This week      2.99       2.75     3.25          0.814 (The rate based on 25% down payment with 740 above credit […]

Weekly News (June 3, 2020)

This week’s Interest Rate (23th  Week) (Fairway Asset )   30 Y Rate: 2.999%/ 15 Year Rate:2.750%/ 10 Y Treasury: 0.6720%/  FHA:3.250%  Prime Rate:3.0% / Ref IR: 0.00- 0.25% (The rate based on 25% down payment with 740 above credit score) We have Special Programs for Owner Occupy and 2nd Home. Conventional interest rate is lowest […]

Weekly News (May 28, 2020)

This week’s Interest Rate (22nd Week) (Fairway Asset )   30 Y Rate: 2.999%/ 15 Year Rate:2.625%/ 10 Y Treasury: 0.692%/  FHA:3.490%   Prime Rate:3.0% / Ref IR: 0.00- 0.25% (The rate based on 25% down payment with 740 above credit score) We have Special Programs for Owner Occupy and 2nd Home.  Conventional interest rate is lowest […]

Weekly News (May 20, 2020)

This week’s Interest Rate (21st  Week) (Time Mortgage )    30 Y Rate: 3.250%/ 15 Year Rate:2.75%/ 10 Y Treasury: 0.718%/  FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25%   Fort Lee, NJ opens Coronavirus testing to all residents  (The Record   5/20) The mayor Mark Sokolich said through video announcing that the borough is conducting […]

Weekly News (May 13, 2020)

This week’s Interest Rate (20th Week) (Fairway Asset Corp.) Y Rate: 3.000%/ 15 Year Rate:2.625%/ 10 Y Treasury: 0.691%/  FHA:3.490%   Prime Rate:3.0% / Ref IR: 0.00- 0.25% A special program for Owner Occupy and 2nd Home available.  Conventional interest rate is lowest in history.  Government loans still have liquidity problems.   Palisades Park, NJ will […]

Weekly News (May 6, 2020)

This week’s Interest Rate (19th Week) (Fairway Asset Corp.)    30 Y Rate: 3.375%/ 15 Year Rate:2.875%/ 10 Y Treasury: 0.657%/  FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25% Conventional rates are getting better, but Government loans(FHA,VA, USDA) still have  difficulties.   Palisades Park, NJ will raise Property Tax by average $97 (The  Korea Times  4/29) […]

Weekly News (April 29, 2020)

This week’s Interest Rate (18th Week) (Fairway Asset Corp.)  30 Y Rate: 3.375%/ 15 Year Rate:2.99%/ 10 Y Treasury: 0.549%/  FHA:3.490%  Prime Rate:3.0% / Ref IR: 0.00- 0.25% Conventional rates are getting better, but Government loans(FHA,VA, USDA) still have difficulties.   Investigation started on Unfair PPP Approval (The Korea Times  4/28, 4/29) The Democrats initiated SBA […]

Weekly News (April 22, 2020)

This week’s Interest Rate (17th Week) (Fairway Asset Corp.)  30 Y Rate: 3.490%/ 15 Year Rate:3.250%/ 10 Y Treasury: 0.549%/  FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25% Conventional rates went up a little bit and Government loans(FHA,VA, USDA) still have difficulties. Jumbo loan have difficulties   New Jersey Schools will be closed till 5/15/2020 (The Korea […]

Weekly News (April 15, 2020)

This week’s Interest Rate (16th Week) (Fairway Asset Corp.) 30 Y Rate: 3.490%/ 15 Year Rate:2.875%/ 10 Y Treasury: 0.879%/  FHA:3.490%  Prime Rate:3.0% / Ref IR: 0.00- 0.25% Conventional rates are getting better, but Government loans(FHA,VA, USDA) still have difficulties.   NY State might hit the Apex of COVID-19 death toll ( The  Korea Times 4/14) […]

Weekly News (April 8, 2020)

This week’s Interest Rate (15th Week) (Fairway Asset Corp.)   30 Y Rate: 3.490%/ 15 Year Rate:2.99%/ 10 Y Treasury: 0.687%/  FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25%   The U/W guidelines getting tighten during the COVID-19. Some of lenders cap the DTI lower than normal time and require 3 month reserves. ( See below) […]

Weekly News (April 1, 2020)

This week’s Interest Rate (14th Week) (Fairway Asset)  30 Y Rate: 3.625%/ 15 Year Rate:3.125%/ 10 Y Treasury: 0.687%/  FHA:3.490%  Prime Rate:3.0% / Ref IR: 0.00- 0.25%   WeWork kept most of it locations open:Only two offices are closed in N. America (The NYT  3/25) In the fight against the spreading COVID-19 countless businesses, restaurants and […]

Weekly News (March 25, 2020)

This week’s Interest Rate (13th Week) (Fairway Asset)  30 Y Rate: 3.625%/ 15 Year Rate:3.125%/ 10 Y Treasury: 0.879%/  FHA:3.375%/  VA:3.250% Prime Rate:3.0% / Ref IR: 0.00- 0.25%   NYC is planning to increase property tax for single homes (The Korea Daily  3/24) NYC is changing the law that property tax will be adjusted according to […]

Weekly News (March 18, 2020)

This week’s Interest Rate (12th Week) (Fairway Asset)  30 Y Rate: 3.490%/ 15 Year Rate:3.375%/ 10 Y Treasury: 0.885%/  FHA:3.375%/  VA:3.375%  Prime Rate:3.0% / Ref IR: 0.00- 0.25%   Fed Reserve lowered Reference Interest Rates by 1% to 0.00 – 0.25% (The Korea Daily  3/17) Fed Reserve decided to lower Reference IR by 1% (Big Cut) […]

Weekly News (March 11, 2020)

This week’s Interest Rate (11th Week) (Fairway Asset) 30 Y Rate: 3.375%/ 15 Year Rate:2.875%/ 10 Y Treasury: 1.377%/  FHA:3.125%/  VA:3.000% Prime Rate:4.75% / Ref IR: 1.00- 1.25%   NJ, Edgewater Condo Group sued the Admiral condo over access to walkway (The Record   3/11) The nonprofit Hudson River Waterfront Conservancy is suing the Admiral’s Walk condo […]

Weekly News (March 4, 2020)

This week’s Interest Rate (10th Week) (Fairway Asset)   30 Y Rate: 3.370%/ 15 Year Rate:2.875%/ 10 Y Treasury: 1.377%/  FHA:3.125%/  VA:2.875% Prime Rate:4.25% / Ref IR: 1.00- 1.25%   Federal Reserve issues FOMC statement – The rate cut announcement  by 0.5% (The FOMC  3/3, The  Record 3/4) FOMC made fast and big step to lower […]

Weekly News (February 26, 2020)

This week’s Interest Rate (9th Week) (Fairway Asset) 30 Y Rate: 3.250%/ 15 Year Rate:2.875%/ 10 Y Treasury: 1.377%/  FHA:3.125%/  VA:2.875% Prime Rate:4.75% / Ref IR: 1.50- 1.75%   Palisades Park parents want action on school crowding (The Record  2/25) Parents are asking school district to take immediate action to address overcrowding in class rooms and […]

Weekly News (February 19, 2020)

This week’s Interest Rate (8th Week) (Fairway Asset)  30 Y Rate: 3.375%/ 15 Year Rate:2.875%/ 10 Y Treasury: 1.651%/  FHA:3.25%/  VA:2.875% Prime Rate:4.75% / Ref IR: 1.50- 1.75%   The developer has filed a suit against Alpine town government (The Korea Time/ The Record  2/19 ) Richard Kurtz wants to build affordable-housing units if the lots […]

Weekly News (February 12, 2020)

This week’s Interest Rate (7th Week) (Fairway Asset) 30 Y Rate: 3.375%/ 15 Year Rate:2.99%/ 10 Y Treasury: 1.651%/  FHA:3.25%/  VA:3.000% Prime Rate:4.75% / Ref IR: 1.50- 1.75%   NY renters will not have to rental broker fee by tenant law (The  Korea Daily, TRD  2/12) NY DOS(Dept Of State) announced the order specifying that tenant […]

Weekly News (February 5, 2020)

This week’s Interest Rate (6th Week) (Fairway Asset) 30 Y Rate: 3.450%/ 15 Year Rate:2.99%/ 10 Y Treasury: 1.651%/  FHA:3.125% Prime Rate:4.75% / Ref IR: 1.50- 1.75%   “SOJO” Spa Club in Edgewater filed the suit against  the town government (The Korea Daily, Korea Times  2/5) SOJO claims that the town approved the new development project […]

Weekly News (January 29, 2020)

This week’s Interest Rate (3rd Week) (Fairway Asset) 30 Y Rate: 3.450%/ 15 Year Rate:2.99%/ 10 Y Treasury: 1.651%/  FHA:3.375% Prime Rate:4.75% / Ref IR: 1.50- 1.75%   Englewood Cliffs town will appeal to Bergen County for the pending development (The Korea Daily  1/25) Bergen county ordered to begin the apartment complex development project including 174 […]

Weekly News (January 22, 2020)

This week’s Interest Rate (3rd Week) (Fairway Asset) 30 Y Rate: 3.625%/ 15 Year Rate:3.25%/ 10 Y Treasury: 1.769%/  FHA:3.375% Prime Rate:4.75% / Ref IR: 1.50- 1.75%   Korean owned Foreclosure in NJ slows down (The Korea Times  1/16) According to Bergen County sheriff department, 27 foreclosures owned by Korean among 313 foreclosures as 1/10/2020, […]

Weekly News (January 15, 2020)

This week’s Interest Rate (2nd Week) (Time Mortgage) 30 Y Rate: 3.625%/ 15 Year Rate:3.125%/ 10 Y Treasury: 1.811%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   Parking meters in Palisades Park, NJ will be replaced after 5 years of operation (The Korea Times 1/4/2020) Since there are accumulated problems for 5 years which is contract period […]

Weekly News (January 8, 2020)

This week’s Interest Rate (1st week) (Time Mortgage)  30 Y Rate: 3.625%/ 15 Year Rate:3.125%/ 10 Y Treasury: 1.811%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   Parking meters in Palisades Park, NJ will be replaced after 5 years of operation (The Korea Times 1/4/2020) Since there are accumulated problems for 5 years which is contract […]

Weekly News (December 18, 2019)

This week’s Interest Rate (51st Week) (Fair Asset Corp.)    30 Y Rate: 3.625%/ 15 Year Rate:3.25%/ 10 Y Treasury: 1.889%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   Edgewater (NJ) construction shakes nearby homes like “Earthquake” (The  Record  12/18) 15 story new apartment, to be called as “Kray Plaza” is being built at 1000 Portside Dr., Edgewater […]

Weekly News (December 11, 2019)

This week’s Interest Rate (50th Week) 30 Y Rate: 3.750%/ 15 Year Rate:3.125%/ 10 Y Treasury: 1.831%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   Leonia school uses dehydrator to cut food waste (The  Record  12/11) Anna C Scott Elementary School will reduce food waste volume and weight by 80 to 90 percent by using a food […]

Weekly News (December 4, 2019)

This week’s Interest Rate (47th Week)  30 Y Rate: 3.620%/ 15 Year Rate:3.125%/ 10 Y Treasury: 1.745%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   The highest  home priced Zip code area is 94027 (Atherton, CA) in US (The Korea Time  11/30) According to the Property Shark, the highest home priced zip code area is Atherton in […]

Weekly News (November 27, 2019)

This week’s Interest Rate (47th Week) 30 Y Rate: 3.620%/ 15 Year Rate:3.125%/ 10 Y Treasury: 1.745%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   Toys R Us is back in Northern New Jersey (The  Record  11/27) The beloved brand is opening first new US retail store since liquidation in Garden State Plaza on Wednesday(11/27), right before […]

Weekly News (November 20, 2019)

This week’s Interest Rate (45th Week) 30 Y Rate: 3.750%/ 15 Year Rate:3.150%/ 10 Y Treasury: 1.786%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   SamSung has opted to keep its North American HQ in Ridgefield Park (The  Costar  11/18) SamSung signed up with Landlord KABR Group for currently occupied 235,000 sf at 85 Challenger Rd, Ridgefield […]

Weekly News (November 13, 2019)

This week’s Interest Rate (45th week)  30 Y Rate: 3.750%/ 15 Year Rate:3.250%/ 10 Y Treasury: 1.917%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   Major redevelopment plan for school district was rejected in Palisades Park, NJ (The Korea Times  11/7) On 11/5/2019 residents vote revealed that residents in Palisades park do not want major redevelopment plan […]

Weekly News (November 6, 2019)

This week’s Interest Rate (44th Week) 30 Y Rate: 3.750%/ 15 Year Rate: 3.25%/ 10 Y Treasury: 1.864%/  Prime Rate: 4.75% Ref IR: 1.50- 1.75%   Edison, NJ introduced the program to convert own house to public rental house ( The Korea Times 11/4) Through M2A (Market to Affordable Rental Program), individually owned house can be […]

Weekly News (October 30, 2019)

This week’s Interest Rate (43rd Week)   30 Y Rate: 3.750%/ 15 Year Rate:3.375%/ 10 Y Treasury: 1.833%/  Prime Rate:5.00% Ref IR: 1.75- 2.00%   “Edge” observation deck in Hudson Yard will open 3/11/2020 ( The Korea Times 10/29) The height is 1131 ft and located at 100th floor of the building and it’s protruding feature out of […]

Weekly News (October 23, 2019)

This week’s Interest Rate (42nd Week) 30 Y Rate: 3.750%/ 15 Year Rate:3.375%/ 10 Y Treasury: 1.743%/  Prime Rate:5.00% Ref IR: 1.75- 2.00%   In Edgewater, NJ, apartment construction is under debate in town (The  Korea Daily  10/22) The developer, Daibes Enterprises is planning a 15 story apartment complex where there is the existing 2 story […]

Weekly News (October 16, 2019)

This week’s Interest Rate (41st week)  30 Y Rate: 3.750%/ 15 Year Rate: 3.375%/ 10 Y Treasury: 1.727%/  Prime Rate: 5.00% Ref IR: 1.75- 2.00%   Contaminated Earth (1000 C.Y.) in Edgewater will be removed from this week (The  Korea Daily 10/16) It will take 5 days to remove 1000 cubic yard contaminated earth and debris […]

Weekly News (October 9, 2019)

This week’s Interest Rate (40th Week) 30 Y Rate: 3.625%/ 15 Year Rate:3.125%/ 10 Y Treasury: 1.551%/  Prime Rate:5.00% Ref IR: 1.75- 2.00%   New Jersey 300 school districts might be re-structured (The  Korea Times  10/9) The Governor Murphy announced that $10 M budget will be used to lead the New Efficiency Achievement Program (LEAP).  A […]

Weekly News (October 2, 2019)

This week’s Interest Rate (39th week) 30 Y Rate: 3.750%/ 15 Year Rate:3.375%/ 10 Y Treasury: 1.635%/  Prime Rate:5.00% Ref IR: 1.75- 2.00%   Pavement on 32nd street, Manhattan will be re-done  (The Korea Daily  9/30) K Town Chamber of Commerce and New York Korean Association had a meeting with Corey Johnson, speaker of NYC Council and […]

Weekly News (September 25, 2019)

This week’s Interest Rate 30 Y Rate: 3.750%/ 15 Year Rate:3.375%/ 10 Y Treasury: 1.652%/  Prime Rate:5.00% Ref IR: 1.75- 2.00%   FOMC meeting decided to lower FRR by 0.25% to 1.75%-2.00% on 18th (The  Korea Times   9/19) Powel, Chairperson at FOMC mentioned the lowering FRR this time was to buy a kind of insurance […]

Weekly News (September 18, 2019)

This week’s Interest Rate      30 Y Rate: 3.875%/  15 Year Rate:3.500%/ 10 Y Treasury: 1.808%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   Northern New Jersey towns got sharp property tax increase for last 10 years (The  Korea Times  9/18) According to APP, Englewood Cliffs tax is up by 56.3% for last 10 years.  2017 […]

Weekly News (September 11, 2019)

This week’s Interest Rate    30 Y Rate: 3.625%/  15 Year Rate:3.125%/ 10 Y Treasury: 1.628%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   6 new apartment buildings, total 1200 units, will be developed in Teaneck, NJ (The  Korea Times   9/7) According to the Record on 6th, 600 units apartment building will be constructed on State Street […]

Weekly News (September 4, 2019)

This week’s Interest Rate 30 Y Rate: 3.5%/  15 Year Rate:3.125%/ 10 Y Treasury: 1.462%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   Englewood Cliffs, NJ loses housing ruling at the court (The Records  9/4) Superior Court Judge Christine Farrington issued an order on 8/27/2019 saying the court has determined that the Borough has acted in […]

Weekly News (August 28, 2019)

This week’s Interest Rate 30 Y Rate: 3.625%/  15 Year Rate:3.250%/ 10 Y Treasury: 1.474%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   Ticketing using Smart Meter in Palisades Park will be prohibited soon      (The Korera Times  8/24) Governor Phil Murphy vetoed against the bill to do ticketing using smart meters by camera.  Consequently, Palisades […]

Weekly News (August 21, 2019)

This week’s Interest Rate 30 Y Rate: 3.625%/  15 Year Rate:3.250%/ 10 Y Treasury: 1.552%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   Palisades Park residents are questioning on major school renovation project (The Korean  Daily  8/20) Palisades Park residents are anticipating announcement of additional $60M budget for school renovation and it’s itemized detail and tax […]

Weekly News (August 14, 2019)

This week’s Interest Rate – 30 Y Rate: 3.625%/  15 Year Rate:3.250%/ 10 Y Treasury: 1.702%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   Drunken youth came out of Palisades Park NoRaeBang assaulted a passenger (The Korea Times  8/10) On 8/5, 13 drunken youths came out of NoRaeBang in Palisades Park attacked a street passenger.  It is […]

Weekly News (August 7, 2019)

This week’s Interest Rate      30 Y Rate: 3.500%/  15 Year Rate:3.150%/ 10 Y Treasury: 1.716%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   “Daiso” Japan opened its super store in Edgewater, NJ (The Korea Daily  8/6) Daiso store(7000sf) location is next door to Mitsuwa Market Place in Edgewater: 595 River Rd, Edgewater, NJ. 1st store opened […]

Weekly News (July 31, 2019)

This week’s Interest Rate      30 Y Rate: 3.750%/  15 Year Rate: 3.250%/ 10 Y Treasury: 2.065%/  Prime Rate: 5.5%   Mayor of Palisades Park, NJ requested suspension of police chief to town council (The Korea Times  7/30, The Record 7/31) It is found by outside consultant Hillard Heintze that there is no written policy […]

Weekly News (July 24, 2019)

This week’s Interest Rate      30 Y Rate: 3.750%/  15 Year Rate:3.250%/ 10 Y Treasury: 2.065%/  Prime Rate:5.5%   Lotte Market will be open in Edison on 7/26/2019.          (The Korea Daily 7/22) 50,000 sf Supermarket, “Lotte Plaza Market” (Chairman: SeungGil Lee, President: SangMin Lee) will be in Edison, NJ, opening on 7/26/2019. The store […]

Weekly News (July 17, 2019)

This week’s Interest Rate      30 Y Rate: 3.875%/  15 Year Rate:3.375%/ 10 Y Treasury: 2.106%/  Prime Rate:5.5%   Gap in Ridgewood, NJ will close down on 7/27/2019 (The Record  7/17) Gap on East Ridgewood Ave will sale for all items by 50-70% and even fixtures by 50%.  The company announced the plan of splitting […]