This week’s Interest Rate (10th Week) (Fairway Asset)   30 Y Rate: 3.370%/ 15 Year Rate:2.875%/ 10 Y Treasury: 1.377%/  FHA:3.125%/  VA:2.875% Prime Rate:4.25% / Ref IR: 1.00- 1.25%   Federal Reserve issues FOMC statement - The rate cut announcement  by 0.5% (The FOMC  3/3, The  Record 3/4) FOMC made fast and big step to lower Ref IR.  The fundamentals of the U.S. economy remain...

This week’s Interest Rate (9th Week) (Fairway Asset) 30 Y Rate: 3.250%/ 15 Year Rate:2.875%/ 10 Y Treasury: 1.377%/  FHA:3.125%/  VA:2.875% Prime Rate:4.75% / Ref IR: 1.50- 1.75%   Palisades Park parents want action on school crowding (The Record  2/25) Parents are asking school district to take immediate action to address overcrowding in class rooms and lunchrooms.  Neris Rapoter and...

This week’s Interest Rate (8th Week) (Fairway Asset)  30 Y Rate: 3.375%/ 15 Year Rate:2.875%/ 10 Y Treasury: 1.651%/  FHA:3.25%/  VA:2.875% Prime Rate:4.75% / Ref IR: 1.50- 1.75%   The developer has filed a suit against Alpine town government (The Korea Time/ The Record  2/19 ) Richard Kurtz wants to build affordable-housing units if the lots are rezoned to allow for the construction of...

This week’s Interest Rate (7th Week) (Fairway Asset) 30 Y Rate: 3.375%/ 15 Year Rate:2.99%/ 10 Y Treasury: 1.651%/  FHA:3.25%/  VA:3.000% Prime Rate:4.75% / Ref IR: 1.50- 1.75%   NY renters will not have to rental broker fee by tenant law (The  Korea Daily, TRD  2/12) NY DOS(Dept Of State) announced the order specifying that tenant should not pay the rental broker fee which has been...

This week’s Interest Rate (6th Week) (Fairway Asset) 30 Y Rate: 3.450%/ 15 Year Rate:2.99%/ 10 Y Treasury: 1.651%/  FHA:3.125% Prime Rate:4.75% / Ref IR: 1.50- 1.75%   “SOJO” Spa Club in Edgewater filed the suit against  the town government (The Korea Daily, Korea Times  2/5) SOJO claims that the town approved the new development project 1200 unit apartment complex at 660 River Road...

This week’s Interest Rate (3rd Week) (Fairway Asset) 30 Y Rate: 3.450%/ 15 Year Rate:2.99%/ 10 Y Treasury: 1.651%/  FHA:3.375% Prime Rate:4.75% / Ref IR: 1.50- 1.75%   Englewood Cliffs town will appeal to Bergen County for the pending development (The Korea Daily  1/25) Bergen county ordered to begin the apartment complex development project including 174 low income units at 800 Sylvan...

This week’s Interest Rate (3rd Week) (Fairway Asset) 30 Y Rate: 3.625%/ 15 Year Rate:3.25%/ 10 Y Treasury: 1.769%/  FHA:3.375% Prime Rate:4.75% / Ref IR: 1.50- 1.75%   Korean owned Foreclosure in NJ slows down (The Korea Times  1/16) According to Bergen County sheriff department, 27 foreclosures owned by Korean among 313 foreclosures as 1/10/2020, which is 8.6% owned by Korean, while it...

This week’s Interest Rate (2nd Week) (Time Mortgage) 30 Y Rate: 3.625%/ 15 Year Rate:3.125%/ 10 Y Treasury: 1.811%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   Parking meters in Palisades Park, NJ will be replaced after 5 years of operation (The Korea Times 1/4/2020) Since there are accumulated problems for 5 years which is contract period with MPS, the town has decided to replace the parking...

This week’s Interest Rate (1st week) (Time Mortgage)  30 Y Rate: 3.625%/ 15 Year Rate:3.125%/ 10 Y Treasury: 1.811%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   Parking meters in Palisades Park, NJ will be replaced after 5 years of operation (The Korea Times 1/4/2020) Since there are accumulated problems for 5 years which is contract period with MPS, the town has decided to replace the...

This week’s Interest Rate (51st Week) (Fair Asset Corp.)    30 Y Rate: 3.625%/ 15 Year Rate:3.25%/ 10 Y Treasury: 1.889%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   Edgewater (NJ) construction shakes nearby homes like “Earthquake” (The  Record  12/18) 15 story new apartment, to be called as “Kray Plaza” is being built at 1000 Portside Dr., Edgewater nearby rental complex...