Tag Archives: Armonk

Armonk NY Homes

Mortgage Rates drop again | Armonk Real Estate

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates falling for the third consecutive week as bond yields continued to drop despite a strong employment report. Averaging 3.66 percent, the 30-year fixed-rate mortgage is at its lowest level since the week ending May 23, 2013 when it averaged 3.59 percent. This also marks the first time the 15-year fixed rate mortgage has fallen below 3 percent since the week ending May 30, 2013.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.66 percent with an average 0.6 point for the week ending January 15, 2014, down from last week when it averaged 3.73 percent. A year ago at this time, the 30-year FRM averaged 4.41 percent.
  • 15-year FRM this week averaged 2.98 percent with an average 0.5 point, down from last week when it averaged 3.05 percent. A year ago at this time, the 15-year FRM averaged 3.45 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.90 percent this week with an average 0.4 point, down from last week when it averaged 2.98 percent. A year ago, the 5-year ARM averaged 3.10 percent.
  • 1-year Treasury-indexed ARM averaged 2.37 percent this week with an average 0.4 point, down from last week when it averaged 2.39 percent. At this time last year, the 1-year ARM averaged 2.56 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for theRegional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

“Mortgage rates fell for the third consecutive week as oil prices plummeted and long term treasury yields continued to drop despite a strong employment report. The economy exceeded expectations by adding 252,000 jobs in December which followed an upward revision of 50,000 jobs to the prior two months. The unemployment rate fell to 5.6 percent which was the lowest since June 2008.”

TransUnion: Youth, older both see loan growth | Armonk Real Estate


A new TransUnion study found that the consumer loan wallet – the composition of loans that people typically carry – has materially changed for both the youngest and oldest segments of the population during the last decade.

The study found that student loans have left the greatest imprint on those consumers ages 20-29, with their share of the consumer wallet nearly tripling in the last nine years. In 2005, student loans made up 12.9% of the total loan balance share for this age group. This percentage increased to 21.1% in 2009 and surged to 36.8% in 2014. For the purposes of this study, all yearly data points reflect data as of March 31 of each year.

The consumer loan wallet is defined by breaking down the average total borrowing of consumers in different age tiers by the average percentage of that total balance in each loan type, including mortgage, auto, card, HELOC, student loan, and all other loan types.

“The mortgage crisis and recession had a profound impact on the country, with many consumers still feeling the effects today,” said Charlie Wise, vice president in TransUnion’s Innovative Solutions Group. “Interestingly, our study found that the recession has had a lasting impact on two disparate groups – those consumers in their 20s and those ages 60 or higher – though in very different ways. While these groups differ greatly in their borrowing levels and wallet share compositions, we also believe their borrowing and wallet shares were likely impacted by each other. With unemployment rates remaining high for a prolonged period during the last six years, 20-somethings likely looked to their parents, grandparents, and other more financially established family and friends for financial support.”







ZERO WASTE DAY in North Castle | Armonk Real Estate



& Prescription Take Back Day Saturday, April 26 

9:00 am – 3:00 pm

(rain or shine)

Behind Town Hall

15 Bedford Road, Armonk


E-Waste computers, TVs, CRTs, monitors, copiers, scanners, fax machines, VCRs, DVRs, cell phones…


Used Motor, Antifreeze and Cooking Oil –

used motor oil, oil filters, antifreeze and oily debris, used vegetable oil (from a deep fat fryer)

Paper Shredding – up to 6 total boxes of personal papers and/or hardcover books per household


Scrap Metals

metal file cabinets, hot water tanks and heaters, bed frames, treadmills, basketball hoops…


Household Furniture – sofas, tables, chairs, rugs, lamps, dressers, bookshelves, artwork…


Spring & Summer Clothing and Linens – clothing and shoes for men, women and children, and gently used linens


Adult & Children’s Bicycles – in good working condition


Dog & Cat Supplies – crates, blankets, towels, canned food, collars, leashes and balls (basketball, soccer, tennis and football)


Volunteers will help unload your donations.

NOTE: These items will NOT be accepted:

Bulk items

Compact fluorescent light bulbs 

Alkaline & button cell batteries

Paint cans


Hazardous household chemicals


1 in 3 homes is unaffordable and a bubble is forming | Armonk Real Estate


More than half the homes currently on the market in seven major American metros are currently unaffordable for local residents, and one-third of homes for sale are unaffordable by historic standards.

That’s the conclusion from a Zillow (Z) analysis of income, mortgage and home value data in the fourth quarter of 2013, which puts to question the regular industry claim that housing is more affordable than ever because of the current price and interest rate levels coming out of the housing crash.

“As affordability worsens, we’re already beginning to see more of the kinds of worrisome trends we saw en masse during the years leading up to the housing crash. These include a greater reliance on non-traditional home financing, smaller down payments and a greater pressure to move further away from urban job centers in order to find affordable housing options,” said Zillow chief economist Stan Humphries. “We’re not in a bubble yet, but we’re beginning to see the early signs of one in some areas.”

Homebuyers increasingly have to search on the perimeter of the country’s largest metro markets, as downtown properties become out of reach for buyers of typical means, the report found.



Vince Vaughn bought Lane Kiffin’s old home in California for $6.5 million | Armonk Homes


WIth Lane Kiffin now in Tuscaloosa as Alabama’s offensive coordinator, he needed to sell his Los Angeles-area house he lived in while he was coach of USC.

He found a buyer who is more famous than he is.

Actor Vince Vaughn has purchased the house for $6.5 million according to the Los Angeles Times. Per the Times, the house “features vaulted ceilings, a stone fireplace, six bedrooms and seven bathrooms. The three-car garage opens to a gated driveway” and “the half-acre lot has a swimming pool and spa, a guesthouse and an outdoor kitchen.”


Kiffin listed the house in December for an asking price of just under $7 million.

You likely know Vaughn from “Old School” and “Wedding Crashers” and in case you’re still somehow drawing a blank on who he is, here’s his Yahoo Movies bio.

Kiffin was fired as the coach of the Trojans in September. After visiting with Nick Saban and his Alabama staff in December, Saban hired Kiffin to succeed offensive coordinator Doug Nussmeier in January.

When he was visiting with Alabama to help “evaluate” the Tide’s offense, Saban called him “a really good offensive coach.”

He was dismissed from his duties at USC after the Trojans lost to Arizona State 62-41. A former offensive coordinator for USC who had head coaching stints with the Oakland Raiders and the University of Tennessee, Kiffin was 28-15 in over three seasons as USC’s head coach.




US mortgage applications rose last week: MBA | Armonk Real Estate


Applications for U.S. home mortgages rose last week as interest rates slipped, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 9.4 percent in the week ended Feb. 28.

The MBA’s seasonally adjusted index of refinancing applications rose 9.6 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, rose 9.4 percent.

Fixed 30-year mortgage rates averaged 4.47 percent in the week, down 6 basis points from 4.53 percent the week before.

The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.



What is the Consumer Financial Protection Bureau (CFPB) asking of credit card companies? | Armonk Real Estate


The Consumer Financial Protection Bureau (CFPB) is calling for credit card companies to make credit scores available to card holders on a monthly basis.  Will this cause more confusion and frustration for the average consumer?

Why are credit card companies responsible for providing consumers with copies of their credit scores monthly? It is hard enough as it is for consumers to get explanations and information from their credit card companies. It seems the three major credit bureaus who compile all the data should provide credit scores to the general public instead of the credit card companies. The bureaus have already created scores and can provide them to consumers much more easily. Right now there are some credit card companies, like https://www.53.com/content/fifth-third/en/personal-banking/bank/credit-cards/secured-card.html , offering credit scores but this could wind up confusing consumers and giving them a false sense of reality. If you read the fine print on the Discover Card offering credit scores it is clear that only the Trans Union FICO score is provided.

Here is the fine print taken from the Discover site:
“Your FICO® Credit Score is based on data from TransUnion and may be different from other credit scores. FICO® Credit Scores are delivered only to Primary cardmembers who get a monthly statement and have an available score. Discover and other lenders may use different inputs like a FICO® Credit Score, other credit scores and more information in credit decisions. This benefit may change or end in the future. FICO is a registered trademark of the Fair Isaac Corporation in the United States and other countries.”
Since banks take the middle score of ALL THREE credit bureau FICO scores (Trans Union, Equifax, and Experian) only having one score isn’t a true and accurate reflection of what a lender would see when evaluating credit. Many consumers have different information on each credit bureau report. This will cause the three scores to vary. If a collection agency updated a bad debt it would place the derogatory on only two of the three credit bureaus.