September 2019

This week’s Interest Rate 30 Y Rate: 3.750%/ 15 Year Rate:3.375%/ 10 Y Treasury: 1.652%/  Prime Rate:5.00% Ref IR: 1.75- 2.00%   FOMC meeting decided to lower FRR by 0.25% to 1.75%-2.00% on 18th (The  Korea Times   9/19) Powel, Chairperson at FOMC mentioned the lowering FRR this time was to buy a kind of insurance for the economy which is exposed to some degree of danger.  FOMC believes...

This week’s Interest Rate      30 Y Rate: 3.875%/  15 Year Rate:3.500%/ 10 Y Treasury: 1.808%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   Northern New Jersey towns got sharp property tax increase for last 10 years (The  Korea Times  9/18) According to APP, Englewood Cliffs tax is up by 56.3% for last 10 years.  2017 current average tax is $12,850 while it was $8,219 in 2007.  Fort Lee...

This week’s Interest Rate    30 Y Rate: 3.625%/  15 Year Rate:3.125%/ 10 Y Treasury: 1.628%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   6 new apartment buildings, total 1200 units, will be developed in Teaneck, NJ (The  Korea Times   9/7) According to the Record on 6th, 600 units apartment building will be constructed on State Street in Teaneck.  Also 36 units of mixed use building and...

This week’s Interest Rate 30 Y Rate: 3.5%/  15 Year Rate:3.125%/ 10 Y Treasury: 1.462%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   Englewood Cliffs, NJ loses housing ruling at the court (The Records  9/4) Superior Court Judge Christine Farrington issued an order on 8/27/2019 saying the court has determined that the Borough has acted in bad faith and determined to be constitutionally...