Although average mortgage interest rates have seen a slight decline over the past few weeks, they’re still twice as high as just one year ago. Meanwhile, median housing prices in the Bay Area are on the rise despite a 14% drop year over year. With this level of volatility, a fixed-rate mortgage makes more sense every day. But again, personal circumstances may do the deciding for you.
For first-time homebuyers, the choice of mortgage rates requires careful consideration. Don’t go with an ARM just for lower monthly payments. You may get more than you bargained for.
Choosing an ARM may seem like a good idea when rates are low, but it’s always a gamble. A quick shift in the economy could send rates sky high, and you’re stuck riding the wave. If your ultimate goal is lower monthly payments, it might make more sense to choose a fixed-rate mortgage or look for a home with a lower price.
Regardless of which rate you choose, you should also ask yourself how long you plan to live in the new home. If this is a “starter” home, you might be able to get away with an ARM, especially if rates are low and the economy is fairly stable. If you’re in for the long haul, a fixed rate is absolutely the safer bet for your finances.
If you haven't noticed, it's been a little hot outside... Okay, a LOT hot. And firing up the oven isn't going to cool things down. So here are 20 healthy summertime meal options with little or no cooking involved.
One 4th of July tradition the Geek looks forward to each year is the epic Nathan’s Hot Dog Eating Contest from Coney Island, NY. Did you know that San José native and local hero Joey Chestnut has consumed 1,152 hot dogs totalling 252 pounds — bun included — over his career in this one event.
Want more numbers? We found a blog that breaks down this feast of fat.
Fire up the grill, crank up the homemade ice cream, and get out some lawn chairs to watch a big fireworks show with the whole family. It’s time to celebrate our Independence Day! What’s your favorite tradition for our national birthday party?
After three years stuck inside hiding from the pandemic, I can’t wait to get out and cheer for a big patriotic parade, with floats and classic cars and VIPs you’ve never heard of waving to a bunch of people they’ve never met. We recommend the Rose, White & Blue Parade along the Alameda in San José!
By now, if you’ve been reading these emails, you should know where to find me on the 4th: watching a pile of mouth-watering meat as it slowly sizzles and pops on my barbecue. You can keep the parades and the fireworks. They’re fun to watch, but I’d rather be eating! Who’s coming to dinner?
