Current Mortgage Rate Trends

The current mortgage rates are at record lows and have been for most of 2020. COVID-19 has a lot to do with the current trends in the market. The uncertainty in the U.S. economy as well as the unpredictable stock market has fueled the low rates.

COVID-19 added some additional cost therefore the Federal Housing Finance Agency added a 0.5% refinance fee in December 2019 on Fannie Mae and Freddie Mac. Turn times were also affected by the pandemic. Fortunately, the current average is 42 days to close on a home loan.

September the average rate on a 30-year fixed mortgage with 0.8 points paid in fees was 2.87%. The 15-year fixed mortgage with 0.8 points paid was 2.35% which was a huge drop from September 2019.

Many investors have turned from stocks and put money back into bonds. This has kept the mortgage rates low and also anchored the market for new and existing home sales.

Another positive for the mortgage market is the promise for the Federal Reserve’s Open Market Committee to keep purchasing mortgage-backed securities. The more buyers there are in that market, the lower mortgage rates can be because the bonds underlying the loans don’t need to offer as high of a return to attract a buyer.

According to the Federal Reserve terms, they have committed to keeping short-term rates low until 2024. These rates go hand-in-hand with longer-term rates for mortgages. More than likely we will keep seeing low rates for the next couple of years.

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New Orleans’ City Park Voted Number One of the Best City Parks in America

Thrillist, an online media website under Group Nine Media, covers food, drink, travel and entertainment through cities in the United States, Canada and Europe. The media source ranked the top parks around America and New Orleans’ City Park made the list.

City Park is well known and one of the oldest urban parks in the United States. The park sits on 1,300 acres and has been a big part of the city since 1854. Generations have been coming to the park and enjoying concerts, dances and “affaires d’honneur” (gentlemanly duels). As the park’s website describes, Today’s park is home to ancient oaks, modern art and everything in between. Drop by to discover the beauty of a live performance, 160 years in the making.

The park was chosen because of all it has to offer. Among them are Storyland, Carousel Gardens, the Botanical Gardens and the New Orleans Museum of Art. There are many family-friendly events and activities that take place throughout the year. In fact, this summer the park opened the Louisiana Children’s Museum and added 6 acres to the NOMA Sculpture Garden.

Plenty of beautiful scenery is throughout the southern park. It is home to the world’s largest population of live oak trees. Many of these trees are from 750 – 900 years old. The trees are known for their unique shape and many of the trees have limbs that are twice as long as the tree is tall.

Other parks to make the list were from all across the country. The list included Griffith Park in Los Angeles, California, Falls Park in
Sioux Falls, South Dakota, Fairmount Park in Philadelphia, Pennsylvania, Gas Works Park in Seattle, Washington, Zilker Park in Austin, Texas, Dolores Park in San Francisco, California, Theodore Wirth Regional Park in Minneapolis, Minnesota, Belle Isle in Detroit, Michigan, Forest Park in St. Louis, Missouri, Rock Creek Park in Washington, DC, The Gathering Place in Tulsa, Oklahoma, Lincoln Park in Chicago, Illinois, South Mountain Park Preserve in Phoenix, Arizona, Balboa Park in San Diego, California, Forest Park in Portland, Oregon, Prospect Park in Brooklyn, New York, and Golden Gate Park in San Francisco, California.

No wonder City Park was part of Thrillist’s 18 favorite parks. For New Orleans, the park is a great place for locals and tourists to gather and simply rest, mingle and play.

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AEW Dynamite, December 2, 2020

Come see All Elite Wrestling live in New Orleans.

 

Lakefront Arena
6801 Franklin Ave.
New Orleans, LA 70122

December 2, 2020

7 pm


Tickets $25 – $290+

 

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Improvisations Virtual Gala, December 5, 2020

This gala will be virtual in New Orleans.

Improvisations Virtual Gala

Virtual
New Orleans, LA 70119

December 5, 2020

7 pm

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Annual Christkindl Markt, December 5 & 12, 2020

The Deutsches Haus in New Orleans presents this holiday event.

Deutsches Haus
1700 Moss St.
New Orleans, LA 70119

December 5 & 12, 2020

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