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...

This week’s Interest Rate 30 Y Rate: 3.625%/  15 Year Rate:3.250%/ 10 Y Treasury: 1.474%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   Ticketing using Smart Meter in Palisades Park will be prohibited soon      (The Korera Times  8/24) Governor Phil Murphy vetoed against the bill to do ticketing using smart meters by camera.  Consequently, Palisades Park town will have to stop using smart...

This week’s Interest Rate 30 Y Rate: 3.625%/  15 Year Rate:3.250%/ 10 Y Treasury: 1.552%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   Palisades Park residents are questioning on major school renovation project (The Korean  Daily  8/20) Palisades Park residents are anticipating announcement of additional $60M budget for school renovation and it’s itemized detail and tax increase, but it is not...

This week’s Interest Rate - 30 Y Rate: 3.625%/  15 Year Rate:3.250%/ 10 Y Treasury: 1.702%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   Drunken youth came out of Palisades Park NoRaeBang assaulted a passenger (The Korea Times  8/10) On 8/5, 13 drunken youths came out of NoRaeBang in Palisades Park attacked a street passenger.  It is known that NoRaeBang is run by Mr.M who is one of town...

This week’s Interest Rate      30 Y Rate: 3.500%/  15 Year Rate:3.150%/ 10 Y Treasury: 1.716%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   “Daiso” Japan opened its super store in Edgewater, NJ (The Korea Daily  8/6) Daiso store(7000sf) location is next door to Mitsuwa Market Place in Edgewater: 595 River Rd, Edgewater, NJ. 1st store opened at Skyview Center in Queens, NY  on March...

This week’s Interest Rate      30 Y Rate: 3.750%/  15 Year Rate: 3.250%/ 10 Y Treasury: 2.065%/  Prime Rate: 5.5%   Mayor of Palisades Park, NJ requested suspension of police chief to town council (The Korea Times  7/30, The Record 7/31) It is found by outside consultant Hillard Heintze that there is no written policy for hiring, promotion, punishment, etc. and, therefore, police force...

This week’s Interest Rate      30 Y Rate: 3.750%/  15 Year Rate:3.250%/ 10 Y Treasury: 2.065%/  Prime Rate:5.5%   Lotte Market will be open in Edison on 7/26/2019.          (The Korea Daily 7/22) 50,000 sf Supermarket, “Lotte Plaza Market” (Chairman: SeungGil Lee, President: SangMin Lee) will be in Edison, NJ, opening on 7/26/2019. The store is aiming at high-end store with...

This week’s Interest Rate      30 Y Rate: 3.875%/  15 Year Rate:3.375%/ 10 Y Treasury: 2.106%/  Prime Rate:5.5%   Gap in Ridgewood, NJ will close down on 7/27/2019 (The Record  7/17) Gap on East Ridgewood Ave will sale for all items by 50-70% and even fixtures by 50%.  The company announced the plan of splitting up Old Navy from the remaining brands -Gap, Athleta, Banana Republic,...