Among Worcester County area homeowners, granite countertops remain a popular kitchen and bathroom finishing choice. Granite boasts a combination of natural beauty and durability that’s unmatched among most commercial options.
But different from many other countertops choices, granite is a natural material; mined from the Earth. It is porous and highly absorbent.
To protect the granite in your home, therefore, and to ensure its quality over time, you’ll want to seal your countertops at least once annually. A proper granite sealing will prevent stains and damage that can ruin your countertops’ appearances.
Sealing your granite countertops is a simple job, but one that requires a little bit elbow grease.
First, you should make sure your granite is actually ready to be re-sealed. To do this, soak a white cotton cloth in water and leave it on the corner of your countertop for a 10 minutes. Lift the towel and check whether the area under the towel is discolored, or dark. This will indicate that your granite is absorbing liquid and needs sealing.
If the area is not disclored, your granite is already sufficiently sealed.
If your countertops do need to be sealed, here’s how to do it :
With a spray cleaner, wipe down the entire surface and allow to dry
Using a clean white rag, apply granite sealer to the surface uniformly
Allow 30 minutes for the granite to absorb the sealer, or longer
When dry, re-apply a second coat of sealer
Depending on the thickness and quality of your home’s granite, it may need to dry overnight so allow yourself the proper time to finish the job.
Once sealed, use preventative maintenance to keep your granite countertops looking great. Place coasters under beverages, hot plates under dishes and clean up spills immediately.
A well-cared for granite countertop will last for years.
For the second straight week, the 30-year fixed rate mortgage fell to a new, all-time low nationwide. According to Freddie Mac’s weekly mortgage rate survey, the average 30-year fixed rate mortgage rate dropped 1 basis point to 3.83% this week for borrowers willing to pay 0.7 discount points plus a full set of closing costs.
The 15-year fixed rate mortgage also set a mortgage rate record, registering 3.05% with an accompanying 0.7 discount plus closing costs.
Discount points are a one-time, up-front closing cost, based on loan size. 0.7 discount points is equal to 0.7% of the borrowed amount. A home buyer in Worcester County area opening a $200,000 mortgage and paying 0.7 discount points, therefore, would (more…)
The economic recovery continues nationwide, but the recovery’s an uneven one.
Some metropolitan areas are faring very well this year, posting measurable gains in both employment and housing. Other metropolitan areas, by contrast, are struggling.
To help identify those markets in which growth is occurring, the National Association of Homebuilders created the Improving Market Index, a metric analyzing three separate, independently-collected data series “indicative of improving economic health”.
The IMI’s three collected data series are :
Employment Growth (as published by the Bureau of Labor Statistics)
Home Price Growth (as published by Freddie Mac)
Single-Family Housing Growth (as published by the Census Bureau)
A metropolitan area is considered to be “improving” if all three indicators show growth at least six months after the respective area’s most recent trough, or “bottoming out”.
In May, there are exactly 100 U.S. markets that qualify for the NAHB’s Improving Market Index, down from 101 last month but higher by more than 800% from the reading in September 2011, the index’s inaugural release. (more…)
Is your mortgage scheduled to adjust this season? You may want to let it. This year’s ARM-holding homeowners in Massachusetts are finding out that an adjusting mortgage may be the simplest way to get access to today’s low mortgage rates — without paying the closing costs.
Currently, conventional adjustable-rate mortgages are adjusting to near 3.00 percent.
If your home is financed via an adjustable-rate mortgage, you’re likely cognizant of your loan’s life-cycle. At first, your ARM’s initial mortgage rate is agreed upon between you and your lender, a rate that both parties agree will remain in place from anywhere from one to 10 years, with periods of five and seven years being most common.
Then, after the initial “teaser rate” expires, the mortgage’s mortgage rate adjusts according to a pre-determined formula — one that’s also agreed upon at closing. The loan is then subject to an identical mortgage rate adjustment every 12 months thereafter until the loan is paid in full.
The most common conforming mortgage adjustment formula is to add 2.25 percent to the then-current 12-month LIBOR rate. (more…)
Despite several big-name banks pulling the product from their respective home loan offerings, reverse mortgages remain a popular mortgage choice among homeowners aged 62 or over.
A reverse mortgage is exactly what it sounds like — a mortgage in reverse. Rather than borrow a fixed amount of money then pay that loan balance down to zero as with a “forward” mortgage, a reverse mortgage starts at a given loan balance and works its way up as scheduled payments are added to the existing loan balance.
This 4-minute piece from NBC’s The Today Show highlights a few pros and cons of reverse mortgages, and the reasons why you may want to consider one, including :
No mortgage payments are ever due on your home
There is no credit check required for a reverse mortgage
There is no income requirement to qualify for a reverse mortgage
There are some basic qualification standards for the reverse mortgage program including a requirement that all borrowers on title must be 62 years of age or older; and that the subject property be a primary residence. Loan fees can also be higher than with a conventional-type mortgage.
If you meet the qualification standards, though, with a reverse mortgage, you have flexibility in how your home equity is distributed to you. You can receive a lump-sum payment, elect for monthly installments over time, create a line of credit, or a combination of all three.
Like all mortgages, reverse mortgages are complex instruments. That’s one reason why all reverse mortgage borrowers are required to attend counseling — the government wants you to be certain that you understand the nuances of the reverse mortgage program.
Your lender will want you to understand the program, too.
Among Worcester County area homeowners, granite countertops remain a popular kitchen and bathroom finishing choice. Granite boasts a combination of natural beauty and durability that’s unmatched among most commercial options.
The economic recovery continues nationwide, but the recovery’s an uneven one.