Day: 26 ThuAsia/Phnom_Penh2009-12-17T13:49:56+07:00Asia/Phnom_Penh12bAsia/Phnom_PenhThu, 17 Dec 2009 13:49:56 +0700 2013

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Mortgage rates this week nudge 5 percent again

The 30-year fixed-rate mortgage (FRM) averaged 4.94 percent for the week, according to Freddie Mac.  That percentage was up from last week’s 4.81 percent but still below 5.19 percent last year at this time.

The 15-year FRM this week rose to 4.38 percent in comparison with 4.32 percent the previous week and 4.92 percent a year ago.

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.37 percent versus 4.26 percent last week and 5.60 percent last year.

As for the one-year Treasury-indexed ARM, the average rate was 4.34 percent this week.  Last week it was 4.24 percent and last year, 4.94 percent.  Observed Freddie Mac Chief Economist Frank Nothaft:

“Mortgage rates followed bond yields higher once again this week amid signs of an improving economy.  On the consumer side, retail sales jumped 1.3 percent in November and consumer sentiment, as measured by the University of Michigan, rose above the market consensus forecast to the highest reading since September.  Industrial production also showed large gains in November.

“Interest rates on 30-year fixed-rate mortgages have remained below five percent over the past seven weeks and are contributing to a wave of refinance activity.  Roughly three out of four mortgage applications were for refinancing during the first two weeks of December, according the Mortgage Bankers Association.

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201

Malcolm@ServiceYouCanTrust.com
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Lady Macbeth, take note

If all the perfumes of Arabia won’t get out that spot on your antique fabric, the Washington Post has a suggestion.

Oops!

You’d be wise to hire a professional conservator, not a dry cleaner, the newspaper says, referring to the American Institute for Conservation, which offers a free “find a conservator” service through its Web site. You can specify your Zip code and the number of miles you’re willing to travel.

The cost depends on many factors–for example, how much fabric there is, the style of the skirt and whether the shawl has tassels.  The process easily could set you back as much as $200-300, which would include testing all of the colors to make sure the dyes are stable and then wet-cleaning the fabrics to remove as much stain as possible.

Linen, like cotton, is a cellulose fiber that tends to yellow with age. Dry-cleaning solvents don’t remove the discoloration but wet-cleaning might.

Come New Year’s Day, when all that red wine you served makes an unwelcome return appearance, you’ll be glad you read this post, no?

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201

Malcolm@ServiceYouCanTrust.com
Web site