Homes Fort Mill SC

Post From Loan Officer Olan Carder

This is always the million dollar question. I get asked more than anything else, “Where are rates? Where are rates going? What are rates about to do?”

This is a tough question for the average loan officer because although we deal with rates all day everyday, many loan officers don’t understand the economic factors that drive rates or frankly don’t have time to pay attention to it.

Fortunately I subscribe to a wonderful service that keeps me informed on these factors and world economic events. Although no one can predict for certain what the future may hold, I do get great predictions from well informed experts, and they are typically very accurate.

Right now they are advising folks to FLOAT their interest rate (more…)

Mortgage rates have increased slightly in the last couple months but overall, today’s rates are still affordable.

Here’s a brief  history of 30 year mortgage rates for the last 20 years.

In 1990, rates averaged 10.5%. Rates showed a steady decline year to year until 2004. Rates in 2003 where around 5.6% then jumped to6.4% in 2004. Rates declined again to 5.8% 2005. The roller coaster ride continued in 2006 when rates were up to 6.7%. Rates then began a slow decline through 2010.  (more…)

Fort Mill continues to see more new growth with another recent construction start near Highway 160 and Dave Gibson Blvd. The land that is in the process of being cleared behind the South Carolina Bank and Trust is for a preschool called Ivybrook Academy.

The new Ivybrook Academy in Fort Mill will be the 2nd campus for Ivybrook Academy, also found on the internet as LearningLinksAcademy.com. The first location is in Weddington NC and has been operation since August 2007. The Academy’s spokesperson Drew McWilliams said they picked Fort Mill for their new location

because of the highly regarded public schools in the area which matches that of our current early childhood education programs”.

Ivybrook Academy is a half-day preschool offering 6 different programs:

(more…)

If you drive by the intersection of Gold Hill Road and Hwy 160 near Tega Cay, you can’t help but notice the construction taken place on the north east corner. Lake Wylie Lutheran Church is adding a 5,800 sq foot Fellowship Hall, meeting space, and expanded parking lot primarily for the expansion of their ministries and outreach possibilities for the community. (more…)

Mortgage Update  Tuesday December 14th 2010

Rates are on the move AGAIN! The MBS Market is down over 100 basis points again and rates are headed for or are already at 5%. I will keep you posted through the week.

Why are rate going up? The risk of inflation has increased which creates risk on the yield of the mortgage backed securities. This has caused the mortgage bond prices to fall.

There are two main factors (more…)

The Blood Bath Continues!

Ok guys, we have lost another 100 Basis Points today so in the last 48 hours we have lost 234 basis points int he mortgage bond market! I am not sure how to put that into perspective but HUGE is not nearly a big enough to describe it. (more…)

Loan officer Olan Carder with American Security Mortgage sent out a video today to real estate agents with a couple mortgage tips or recommendations. Here is recap of Olan’s message…

Olan’s first message is about potential home buyers. If you are waiting for the new year to make a home purchase decision or closing, you may want to know mortgage rates are inching up slightly. Olan sees momentum in the bond market to move rates up in the future. So you may want to consider locking in a rate now in case there a chance rates go higher the first of the year.

Another mortgage tip is about mortgage tax deduction if you closed on a home this year. (more…)

ALDI, a more than 1000 store grocery chain, posted a banner this week their new store location on Hwy 160 and Vandora Springs rd in Fort Mill will open January 13, 2011. The new store has been under construction for several months and appears to be completed but is sitting idle until January.

ALDI opened their first store in southeastern Iowa back in 1976 and now has more than 1,000 grocery store locations in 31 central and east coast states. Their slogan is “honest to goodness savings” on the items you buy the most. If you have not been to an ADLI, the first thing you’ll find different is you’ll have to pay 25 cents to use a shopping cart. (more…)