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Mortgage Interest Rates go Down from April to May


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According to the index of new mortgage contracts and the Federal Housing Finance Agency (FHFA), there has been a decrease in mortgage rates for the period from April to May.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was calculated to be 4.18% for all loans closed in May. There has also been a 0.10% drop in the contract rate on the composite of all mortgage loans in April.

FHFA’s interest rate survey also shows a decrease of 16 basis points in the average interest rate on conventional, 30-year, fixed-rate mortgages in May, compared to April.

Read the full article at Nationalmortgageprofessional.com.

Can Our Homes Run on Solar Power?

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Can our homes be power-generated entirely by sun power? This is what two companies are in the midst of finding out, with their first experiment already running.

The solar manufacturer, SunPower Corp and building company, KB Home have already created a model home based in California, with an elaborate solar installation. The battery stores power from the sun rays which can be used at night.

If the system turns out to work efficiently, SunPower Corp and KB Home are planning to release it on the market to appeal to the eco-conscious homebuyer.

There are currently three projects like this running in the country.

Read the full article at Leader-enquirer.com.

Customers are Given Unrealistic Auto Repair Times

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Dealership mechanics warn customers that service advisers are unrealistic in their estimate of repair work.

According to Carlisle & Co.’s Annual Automotive Technician Survey, one-third of clients are being told that their car repair will take less time than it actually will. Technicians say that service advisers are only accurate in their estimates about 83% of the time.

Service advisers are usually the first contact point a customer has with a car dealership, which is why it is instrumental that they strive to give accurate numbers to clients.

The consulting firm believes this is an issue, since expected repair-completion time is a big factor for consumers when deciding which car-service provider to choose. Unrealistic repair time also affects the wages of mechanics who get paid by the hour.

Read the full article at Wardsauto.com.

Truck Show Season Kicks Off in Ohio

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Attention all truck lovers, truck-shows season kicks off again this year with various events and competitions over the next few weeks.

This weekend, in Geneva-on-the-Lake, Ohio, the annual Class 8 on the Lake Truck Show is on again. The event is held by Truckers Helping Hands and all profits will be donated to the Ashtabula County Special Olympics. The show will include a truck beauty contest, a Parade of Lights, an auction and much more.

On the 11th-12th of July, the annual Idaho Truck Show and Shine will be held. The show first started in 2008, with the goal to educate the community to bring a better understanding of the trucking industry. Guests will be able to participate in a Pin-Up Girl contest, a Karaoke competition, a golf tournament and marvel at trucks from all industries.

Read the full article at Overdriveonline.com.