Mortgage Rates Show Little Movement

NEW YORK, Feb. 27, 2014 /PRNewswire/ -- Mortgage rates saw very little change this week, with the benchmark 30-year fixed mortgage rate inching lower to 4.48 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.31 discount and origination points.

To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/.

The average 15-year fixed mortgage stepped back to 3.50 percent, while the larger jumbo 30-year fixed mortgage climbed to 4.51 percent. Adjustable rate mortgages were slightly up this week, with the average 1-year ARM moving up to 3.29 percent and the 5-year ARM rising to 3.30 percent.

Mortgage rates have been in a docile state over the past few weeks, as uncertainty regarding global markets has receded. While the pace of the U.S. economic recovery is still an open question, things have transitioned to a wait-and-see mode that translates into tame movements in mortgage rates. The surge of monthly economic releases over the next ten days may answer some of those economic questions, and be a catalyst for renewed volatility in the bond market, and ultimately, mortgage rates. Mortgage rates are closely related to yields on long-term government bonds.

On May 1, 2013, the average 30-year fixed mortgage rate was 3.52 percent. At that time, a $200,000 loan would have carried a monthly payment of $900.32. With the average rate currently at 4.48 percent, the monthly payment for the same size loan would be$1,011.00, a difference of $111 per month for anyone that waited too long.

SURVEY RESULTS

30-year fixed: 4.48% -- down from 4.49% last week (avg. points: 0.31)

15-year fixed: 3.50% -- down from 3.52% last week (avg. points: 0.23)

5/1 ARM: 3.30% -- up from 3.28% last week (avg. points: 0.25)

Bigger, With an Awesome Kitchen, and Close to Work, Please; New Cartus Real Estate Broker Survey Reveals Dream Home Wish List for Relocating Employees

DANBURY, Conn., -- Employees relocating to a new market for a job know very well which features and amenities they want most in their next home, and have firm ideas about its location. Their next home needs to be larger than their previous house, with an upgraded kitchen, and be located in a good school district, yet not too far from work, according to a Cartus Corporation survey taken last week.

Cartus, a leading provider of domestic and global relocation services, received responses from 267 of America's top real estate brokers who specialize in working with transferees. The brokers, all members of the Cartus Broker Network, were asked, for example, "What specifics about a home are most important to transferees?" The following ranks the top five features transferees want in their next home (percent ranking either 1 or 2 on a 5-point scale):

• A larger home than former residence – 70%
• New construction – 64%
• Single story – 37%
• Multi-story – 26%
• Smaller home than former residence – 17%

"A job transfer is a major life change for employees and their families, and finding a home that fulfills their needs is important," saidGerry Pearce, executive vice president, broker and affinity services for Cartus. "It enables the employee to transition to the new job efficiently and with little disruption to family lifestyles and routines. What we found most interesting was not only what is on their dream home wish lists, but also what isn't."

At the Heart of the Matter: An Upgraded Kitchen

For transferees, an upgraded kitchen is definitely considered the heart of their home, ranking highest on the list of desired amenities (percent ranking either 1 or 2 on a 5-point scale). However, amenities such as smart-home technology, media room/home theater, and fitness rooms didn't crack the top three most-popular items.

• Upgraded kitchen – 91%
• Master bedroom on first floor – 60%
• Finished basement – 44%
• Pool/spa – 23%
• Outdoor kitchen – 11%
• Smart-home technology (i.e., control via phone/tablet for heat, electricity, electronics, media, security, etc.) – 10%
• Media room/home theater – 7%
• Fitness room – 4%

Transferee Dream Home Location: School District and Proximity to Work Rank Highest

When it comes to dream home locations, transferees' two top choices (percent ranking either 1 or 2 on a 4-point scale) revolve around family and the job: location within a specific school district (91%) and less than a 30-minute commute to work (84%) garnered the top two spots. Rounding out the top five are: in-town location, close to shopping, dining, etc. (18%), proximity to mass transit pick up/drop off (17%), and proximity/availability of parks and recreational facilities (10%).

Real estate brokers surveyed appear to be moderately optimistic about whether their local market will benefit from greater numbers of employees being transferred: 55% believe employees being transferred into their market will increase in 2014 over last year, 42% believe their market will remain the same, and only 3% think there will be fewer transferees moving into their market.

Additionally, the majority of brokers believe that transferees will take advantage of expected low interest rates throughout 2014 and will purchase their next home (86%) versus rent (14%).

Coldwell Banker Real Estate Releases Second Commercial of Awards Season, "Your Home," at 86th Oscars, Featuring Voiceover by Tom Selleck

MADISON, N.J. -- From Dorothy's red slippers to action heroes saving the city and stories of survivors finding their way back, the emotional feeling of coming home has inspired countless filmmakers over the years.  Just like in the movies,Coldwell Banker Real Estate LLC recognizes a home is more than the materials required to build it.  The company has selected the 86th Oscars® on March 2, 2014 to debut the second commercial of its 2014 ad campaign, "Your Home." 

The new ad is a continuation of the Coldwell Banker® strategy to advertise during major events.  This 30-second spot features a powerful voiceover by Tom Selleck to tell a story of how important home is to each and every one of us. The new spot follows the highly-rated "Home Sweet Home" ad that launched on January 26 during the 56th Annual GRAMMY Awards® show, appropriately featuring the classic Motley Crue anthem of the same name as its soundtrack. 

"'Your Home' is the fourth commercial in our series showcasing the real value of home, which is far more than just a financial investment," said Sean Blankenship, senior vice president, marketing for Coldwell Banker Real Estate LLC. "The Oscars are perfectly timed to reach consumers with our message of how home plays a role in the story of our lives while also aligning with the spring homebuying and selling season.  It's also fitting that the Oscars will pay homage to the 75th anniversary of 'The Wizard of Oz' and Judy Garland's classic line, 'There's no place like home.'"

"'Your Home' depicts home as a place that shapes our memories, reflects our personalities and represents where we are always wanted, loved and cared for," Blankenship added. "In the end, it describes how our home isn't just the physical center of our world, but the emotional center as well."

"Coldwell Banker has always been special to me," said Tom Selleck. "When I was four, my father put the Sellecks in the family car and left Detroit for Southern California to pursue a career in real estate. He worked for Coldwell Banker for 38 years, retiring as an Executive Vice President. Over that period, my two brothers and sisters were with Coldwell Banker, as well. I was the one exception. I'm proud to say that I'm now part of the family business. Over the last three years I've been pleased to become a part of the family and share such an up-lifting message about the importance of home."

Consumers can watch the "Your Home" commercial online on Coldwell Banker BlueMatter, the brand's consumer blog. As part of the #YourHome campaign leading up to the debut of the new spot, more than 2,000 voters on Coldwell Banker BlueMatter named Apollo 13 as the top homecoming scene in movie history.

Both spots were conceived by Siltanen & Partners, the national advertising agency for Coldwell Banker®.  They were directed by Kat Coiro, under the direction of Executive Creative Director, Rob Siltanen.

Check Out Coldwell Banker's New TV Ad!