Fla.’s housing market: Median prices rise in Sept.

Fla.’s housing market: Median prices rise in Sept.

New homes: Single-family up, multifamily down

New homes: Single-family up, multifamily down

Average 30-year mortgage rate falls to 4.14%

 

Mortgage Rate Trend Index

More than half the experts polled by Bankrate.com this week (53%) predict mortgage rates will go down over the short term, and 47% foresee no change. None expect rates to go higher.

WASHINGTON (AP) – June 27, 2014 – Average U.S. rates on fixed mortgages declined this week, hovering near historically low levels.
Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year loan eased to 4.14 percent from 4.17 percent last week. The average for the 15-year mortgage fell to 3.22 percent from 3.30 percent.
Rising prices and higher interest rates beginning in mid-2013 have made homes less affordable for would-be buyers. At the same time, a limited supply of homes is available to buy. Sales of new homes are running about half the rate of a healthy housing market.
Home prices rose in April from a year ago at the slowest pace in 13 months, reflecting the recent drop-off in sales, according to the latest Standard & Poor's/Case-Shiller 20-city home price index released Tuesday.
Mortgage rates are about a quarter of a percentage point higher than they were at the same time last year. The increase in rates over the past year or so was driven in part by speculation that the Federal Reserve would reduce its bond purchases, which have helped keep long-term interest rates low. Indeed, the Fed has announced five declines in its monthly bond purchases since December because the economy appears to be steadily healing. But the Fed has no plans to raise its benchmark short-term rate from record lows.
After the central bank ended a two-day policy meeting last week, Fed Chair Janet Yellen sent the message that the economy still isn't healthy enough to grow at a consistently strong pace without the Fed's help. Yellen said that despite a steadily improving job market and signs of creeping inflation, the Fed sees no need to raise short-term interest rates from record lows anytime soon.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for a 30-year mortgage fell to 0.5 point from 0.6 point a week earlier. The fee for a 15-year loan was unchanged at 0.5 point.
The average rate on a one-year adjustable-rate loan slipped to 2.40 percent from 2.41 percent. The average fee remained at 0.4 point.
The average rate on a five-year adjustable mortgage fell to 2.98 percent from 3.00 percent. The fee declined to 0.3 point from 0.4 point.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Cape Coral Tied for 5th Best Place to Live in Florida

Movoto (the real estate research blog) published a ranking of the 10 best places in Florida. Cape Coral tied as the 5th best place in Florida to live. Movoto ranked the 100 most populous places on criteria such as total amenities, quality of life, crime, weather, etc. http://www.movoto.com/blog/top-ten/best-places-in-florida/

These Are The 10 Best Places To Live In Florida

From the Everglades to Disney World, Florida has some awesome attractions, but which place to live there is the fairest of them all?

movoto.com

27th Annual American Sand Sculpting Championship

 November 29, Fri 12:00 a.m. - 5:00 p.m.

 

Holiday Inn-Fort Myers Beach

6890 Estero Blvd., Fort Myers Beach, FL 33931 Beach behind the hotel Venue Phone: 239-463-2909 Phone: 239-221-8800

Ticket Pricing: $5 adults and children 5 and older; 4 and youngerunder are free Tourists and residents will have the opportunity to see a collection of some of the world's very best sand sculptors create amazing sand sculptures. Featuring 30 sculptors hailing from several different countries, the singles will compete the first week, followed by the doubles. Other events include: quick sand speed sculpting, sand sculpting demonstrations and lessons, photo opportunity sculptures, state championships, amateur contest, and a kids activity area visit website

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CenturyLink Holiday Festival of Lights

Downtown Cape Coral

Phone: 239-549-6900

Saturday, Dec. 7 4:00 p.m. - 10:00 p.m.  Add to my calendar

Ticket Pricing: Free admission and attractions (free kids' area, free photos with Santa, etc.) Food and beverages for sale. The Cape Coral Chamber of Commerce boasts its Holiday Festival of Lights is the largest holiday celebration between Tampa and Miami. Some 20,000 people attend every year to ring in the holidays with fun activities, the official tree lighting and Santa?s arrival. This year, there's a free Kidz Street play area, a Tiny Tots Train ride, a 25-ton Snowdrift Slide and more than 20 performances on four stages, 4-10 p.m. Saturday, Dec. 7. There will also be three food courts full of festival food, beer and soda vendors. visit website

 

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Four Freedoms Beach Project to begin January 9th

Four Freedoms Beach project to begin Jan. 9

The city of Cape Coral will begin installation of a public beach area at Four Freedoms Park on Monday, Jan. 9. City crews have relocated the utility lines, and CW Roberts Inc. will construct the 16,000-square-foot beach. The project design incorporates existing picnic shelters and landscaping, and also includes additional landscaping and access.

The Cape Coral Community Redevelopment Agency contributed $41,785 toward the project to continue to spur activity in the downtown area. The project is scheduled for completed in early February.
Activities at Four Freedoms Park will not be impacted by the work; however, visitors should be aware of the ongoing construction and maintain a safe distance from the work area.