Friday, January 27, 2012

Two important items this week: interest rates and sewer lateral inspections in Mill Valley.
The first item: interest rates is mixed, but overall very good this week. Mortgage rates still hovered near their all-time lows. Even though 30 year fixed rates increased to 3.98, they remain under 4%--a great opportunity for buyers and sellers alike (as frequently discussed here in the past). What bides well for continued low mortgage rates is the fact that the Federal Reserve, in the person of its chairman, Ben Bernanke, said the Fed plans to keep rates low at least through late 2014--another two years--in order to help the still fragile economy recover. This doesn't necessarily mean that mortgage rates will stay at or near historic lows, but it does meant that even any increases will likely be minimal!
The second item: sewer lateral inspections in Mill Valley. The sewer lateral is the pipe that goes from your home to the city's main sewer line out in the street to get waste from your home into the sewer system. Like anything else, these things age, and many of them being close to, or over 100 years old, they break or leak before breaking. The result is the same. It is unhealthy and damaging to the environment. Unfortunately, it's also fairly unhealthy to your wallet. That's because lateral replacements are at the expense of the homeowner, and depending on how long your lateral is, the more expensive the replacement. Yes, size really does matter! Lateral replacement can easily run into the thousands of dollars. However, there is good news available should you be unfortunate enough to have to replace one. In a new policy by the city, SASM, the sewer agency has two ways to drastically reduce your cost of replacing the lateral. One is a major cut in cost to you (if you meet the income requirements), while the other is a low interest rate loan that makes paying for the replacement comfortable, if not actual fun. Want more info: call the SASM's general manager, Steve Danehy at 388-2402 xt 16, or by email at: .



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