Saturday, May 21, 2011

FIXED MORTGAGE RATES HIT NEW LOWS FOR 2011


NEW YORK (AP) - Fixed mortgage rates fell this week to the lowest point of the year, offering incentive for homeowners to save money by refinancing their loans. Freddie Mac said Thursday that the average rate on the 30-year loan fell to 4.61 percent. That's down from 4.63 percent and the lowest level since mid-December.  The average rate on the 15-year fixed mortgage, a popular refinance option, slipped to 3.80 percent from 3.82 percent. That marked the lowest point since late November.

Low rates haven't been enough to jumpstart the weak housing market. Fewer people bought previously occupied homes in April, the National Association of Realtors said Thursday. Sales fell to a seasonally adjusted annual rate of 5.05 million units, far below the 6 million homes a year that economists consider a healthy market.

However, the number of borrowers looking to refinance is now at the highest level since the second week of December, according to the Mortgage Bankers Association. Refinance activity has increased 33 percent over the last five weeks, mirroring the steady decline in rates.

Tuesday, May 17, 2011

MAYFEST May 19-22


Mayfest is an outdoor tribute to the arts and music that is a family-oriented event created to promote a broader knowledge of and appreciation for arts and humanities among serious, as well as casual art lovers. Tulsa International Mayfest, in cooperation with the Arts & Humanities Council of Tulsa, is once again making plans to stage Tulsa's renowned spring festival of the arts. Mayfest 2011 will be May 19-22. Attracting over 350,000 people, Mayfest will feature an array of multi-disciplined arts from dance, music and visual arts. Always one of the major highlights of spring, Mayfest 2010 will be planned to encompass some of the very best in both the exhibit and performance areas. Mayfest offers some of the best local, regional, and national entertainment in Tulsa. Multiple styles of music are represented including Rock & Roll, Classical, Jazz, Pop, Country, and many more. The Creative Culture Courtyard brings together a taste of New York City street performance art with a touch of Venice beach vibes. This year presents Jascha on his recycled drum set, Cherokee Story Teller Robert Lewis, Pow Wow Dancers, Drum Circle, Body Art, Chalk art, Interactive Dance Performances(tango, salsa and swing) and DJ sets from 9-11pm on Friday and Saturday night. The Creative Courtyard hours are Thursday 7-11pm, Friday 7-11pm and Saturday 1-11pm.

Click for MAYFEST website.

Monday, May 2, 2011

TO RAISE OR NOT TO RAISE?


Water Heaters with Sealed Combustion Chambers
To raise when installed in a garage or not to raise?
Newly Designed Water Heaters Flame Vapor Ignition Resistant Units (FVIR)

To meet the American National Standards Institute’s new standard for gas water heaters, a new water heater has been introduced to the market. The objective is to reduce the potential of fire or explosion from flammable vapors ignited by gas water heaters. When you remove the inspection shield, a device called an arrestor plate is now installed at the combustion chamber. The arrestor plate will allow flammable vapor along with the combustible air to be pulled through and ignited. But the plate keeps the flame from passing back through to the atmosphere. Another safety feature is a temperature sensor that recognizes the event and shuts off the burner as well.

As of April 29, 2011 the majority of the cities in the Tulsa metro are do not require water heaters with sealed combustion chambers to be raised. Should this become an issue on one of your home inspections you should call the city building inspector of the city the home is located in and ask him. Most of the time you will get his voice mail as they normally leave their office around 8:30 am and don't come back until after 4:00 pm. Leave a message and they are very good about returning your call.

Information from Cravens Home Inspection Service newsletter.