Mortgage Rates Dropped This Week

There was one little ray of sunshine peeking through all those cracks as Wall Street giants were crumbling this week.  30 year mortgage rates dropped sharply again this week, down to the lowest level in 7 months.  That may not ring a bell of importance with all of Sacramento, but it’s music to your ears if you are planning to buy a house or have a high-rate mortgage that needs to be refinanced.  Sacramento has been in the headlines a lot this past year as one of the hardest hit housing markets in the foreclosure boom so maybe this good news will take us a little closer to getting back on the path to normal.  It’s not just good news for people planning to buy a house, it’s good news for mortgage bankers who want to finance those purchases, it’s good news for realtors who want to sell houses, it’s good news for builders who want to build new houses.  See what I mean, it’s good news for Sacramento!

Hey honey, mortgage rates are down! Maybe we can afford to buy furniture.

I did the math (using an online motrgage calculator) and for someone purchasing a house for $300,000 that means a change of about $200 in your payment for every percentage point the interest rate changes.  For instance, if you could finance that same $300,000 dollar house for 5.65% instead of 7.65% you would save about $400 per month.  That might not sound like a lot to those Wall Street moguls who get the 50 million dollar bonuses for guiding their company to bankruptcy.  But for me it means I can fill up the gas tank in my eight year old car once a week and still have enough left to catch a movie and maybe even spring for some popcorn.  That improves my quality of life, and I don’t know about you, but I think that’s good news! 

No question about it, good news for Sacramento!

Sacramento World Music Dance Festival

Sacramento really is a festive city…… the Sacramento World Music and Dance Festival is happening this weekend.  This two-day event kicks off at the Sacramento Memorial Auditorium on Saturday evening with a performance from 7:00PM to 10:00PM, featuring the region’s finest dance troupes and an appearance from Grammy-award-winning Native American Mary Youngblood.  There will be lots of fancy footwork with native dances of Africa, China, Egypt, India, Ireland, Japan, Mexico, Peru, the Phillippines, Scotland, Spain and Ukraine.  Tickets to the evening showcase are $10 and $20 (click here for ticket purchase info).

On Sunday, September 21, from 10:00AM to 5:00PM.  Over 100 volunteers will transform Old Sacramento into a global village of dance, music and artistry.  There will be free public shows and children’s theatre performances.  Great fun for all ages and it’s free!  So come on down to Old Sac and join the fun

Sacramento World Music and Dance Festival