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 Ref IR. The fundamentals of the U.S. economy remain...
by stephenlee 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 lunchrooms. Neris Rapoter and...
by stephenlee 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 are rezoned to allow for the construction of...
by stephenlee 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 should not pay the rental broker fee which has been...
by stephenlee 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 1200 unit apartment complex at 660 River Road...
by stephenlee 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 low income units at 800 Sylvan...
by stephenlee 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, which is 8.6% owned by Korean, while it...
by stephenlee 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 with MPS, the town has decided to replace the parking...
by stephenlee 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 period with MPS, the town has decided to replace the...
by stephenlee 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 nearby rental complex...
by stephenlee