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Average US 30-year mortgage rate rises to 3.45 percent

by Terri's Team

WASHINGTON (AP) - Long-term U.S. mortgage rates edged higher this week, remaining near historically low levels as a continued enticement to prospective homebuyers.

Mortgage giant Freddie Mac said Thursday the average for the benchmark 30-year fixed-rate mortgage rose to 3.45 percent from 3.42 percent last week. The average rate is down sharply from 4.04 percent a year ago.

The 15-year fixed mortgage rate increased to 2.75 percent from 2.72 percent last week.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage remained at 0.5 point this week. The fee for a 15-year loan also was unchanged from last week at 0.5 point.

Rates on adjustable five-year mortgages averaged 2.78 percent, up from 2.76 percent last week. The fee rose to 0.5 point from 0.4 point.

 

http://www.independentmail.com/news/387801011.xhtml

 

 

 

 

 

 

Engineered Plastic Components, a manufacturer of plastic injection molded products, has chosen Anderson County to be the site of its new operations.

The $5.3 million investment is expected to create 43 jobs, according to a South Carolina Department of Commerce statement released Wednesday.

EPC designs, engineers and manufactures thermoplastic products. Founded in 1994, the company has expanded to include more than 200 injection molding machines across 15 manufacturing facilities in the United States and Mexico.

The company will move its new operations into an existing building at 105 Clemson Research Boulevard in Anderson, according to the Commerce Department statement.

Visit epcmfg.com/employment.html for more information about the company or the new positions.

 

http://www.independentmail.com/business/

A new Snappy Car Wash being built on highway 81

 

Bricklayers labored in the summer sun Tuesday to build yet another businesses on one of Anderson's busiest streets.

A Snappy Premium Express Wash are wash under construction at 2117 S.C. 81 North, near the AnMed Health North Campus, served as a reminder to people who passed by that the road remains one of the Upstate's hottest retail corridors.

It joins Clemson Boulevard as the busiest road in Anderson, which in turn makes it a target for retailers.

South Carolina Department of Transportation records show that S.C. 81 and Clemson Boulevard in Anderson each lure more than 30,000 vehicles a day.

Besides the heavy traffic, those areas also boast the Upstate's lowest retail vacancy rate — 3.7 percent. Among the 12 submarkets rated quarterly by CoStar Property, a national firm that evaluates retail activity, only Simpsonville (3 percent) and the Woodruff Road area of Greenville (3.5 percent) had lower vacancy rates at the end of 2015.

The vacancy rate for all areas of Anderson in the same report was 6 percent, leaving it slightly cooler than Greenville metropolitan area's 5.8 percent and warmer than the 6.3 percent in the Spartanburg metropolitan area.

 

http://www.independentmail.com/news/snappy-expansion-on-sc-81-mirrors-andersons-retail-growth-patternn-3693f6a3-b8ce-040a-e053-0100007f1-385610971.html

 

 

Record high 86,091 employed in Anderson County

by Terri's Team

 

Anderson County continued to buck the national employment trend in May, according to the latest figures released by the South Carolina Department of Employment and Workforce.

The number of people employed in Anderson County rose to a record high 86,091 in May, 258 more than in April and 2,178 more than in May 2015.

As a result, the county's unemployment rate for May was 4.4 percent, down from 4.7 a month earlier and down from 5.6 in May 2015.

Anderson's number of unemployed fell by 254 from April to May. Since last May, the number of unemployed people in the county dropped by 986.

The numbers followed a statewide trend. Of South Carolina's 46 counties, 43 posted a lower unemployment level in May this year than in the same month last year, and two counties showed no percentage change.

 

 

A comparatively low inventory, statewide and in the western upstate, continues to help the sales of existing homes in South Carolina. 

According to the South Carolina Realtors Association, the number of homes on the market statewide with a price tag of $200,000 or less fell to 16,654 last month from 19,884 in May 2015, a shortage that is forcing many buyers into quicker decisions. 

Sales in the Western Upstate, which includes Anderson, Oconee and Pickens counties, in May this year were 17 percent higher than in May 2015 and represented the second-highest percentage in the state. The average number of days on the marker for homes in the Western Upstate fell to 93 days, a 10.6 percent drop from the previous year. 

Statewide, the inventory of homes available in the $200,000 to $300,000 price range was slightly lower in May 2016 than May 2015, while the number of homes on the market in the highest price range tracked (more than $300,000) rose 5.7 percent in that same period. 

Prices continued to rose, locally and statewide. The median price of an existing home climbed by 1.2 percent in the Western Upstate from May 2015 to May 2016, jumping to $151,686 from $149,900. Across the state, the median price rose by 5.1 percent ( to $182,100 from $173,240).

 

http://www.independentmail.com/news/local/low-inventory-fuels-steady-sales-in-moderate-priced-homes-in-sc-3579d6a3-8f60-44bb-e053-0100007f8ab8-383464971.html

 

 

 

One year after announcing plans to relocate from Mauldin to Anderson County, Coca-Cola Bottling Co. Consolidated has set the grand opening of a new $13.5 million, 150,000-square-foot regional sales and distribution center for Thursday. The 15-mile move to a 36-acre site on S.C. Highway 86 across the county line in Piedmont comes after the company decided to close its operation in a residential area of Mauldin.

The company is moving 147 jobs from the old operation to the new.

Anderson County Economic Development Director Burriss Nelson previously said the project — including construction, payroll and assorted tax revenues — will have an estimated $12.7 million economic impact in just its first year. Nelson said the 36-acre site will generate an annual average $168,000 in property taxes, up from $117 in 2014.

 

 

Meals on Wheels Lake Hartwell Poker Run

by Terri's Team

 

pokerrun.jpg

The annual Meals on Wheels Lake Hartwell Poker Run is set to take place this upcoming weekend on Saturday June 18th. Online registration for the Poker Run is closed, but you can still register onsite at Portman Marina on Friday beginning at 5 p.m. or Saturday morning beginning at 9 a.m. Onsite boat registration is $85. This is one of the largest events for Meal on Wheels and raises money to help feed elderly or home bound citizens in Anderson. This service ensures that those in need are able to maintain their health, independence and quality of life. Nutrition is extremely important to maintain good health and Meals on Wheels provides 1/3 of the daily nutritional requirements for participants. Many would not be able to stay in their own homes without the assistance provided by the agency and its many volunteers. 

 

http://acmow.org/our-story/

 

 

 

County agrees to role in downtown Anderson dog park

by Terri's Team

 

Downtown Anderson is one step closer to having a dog park.

The Anderson County Council approved a document Tuesday that begins to outline the county's role in the park. The park will be built on a wooded 3-acre plot near the Anderson County Main Library. The land is bounded by East Society, East Orr, North Fant and North Manning streets in downtown Anderson.

Anderson County owns most of the property and a couple of smaller parcels belong to AnMed Health.

County Administrator Rusty Burns said the county will lease the land to the city of Anderson for $1 a year. The city will be responsible for maintenance of the park and for liability insurance, according to a memorandum of understanding approved by the county council.

The project has long been championed by the dog park committee of a group called To Benefit Anderson.

Donations for the "TBA Dog Park" can be can be made to the Foothills Community Foundation, P.O. Box 1228, Anderson, SC 29622.

 

http://www.independentmail.com/news/county-agrees-to-role-in-downtown-anderson-dog-park-34b61082-4af6-0aa7-e053-0100007f9fb5-382177911.html

Mortgage Applications Down 1.6%

by Terri's Team



Total mortgage application volume fell 1.6 percent last week from the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association. Volume was 18.4 percent higher than the same week one year ago. Volume was driven lower by applications to purchase a home, which fell 6 percent last week. Purchase volume was nearly 12 percent higher than one year ago. 

Applications to refinance a home loan rose 1 percent from the previous week, seasonally adjusted, and are 24 percent higher than one year ago. Mortgage rates were slightly higher a year ago at this time, but not by much.

The average contract interest rate for 30-year fixed-rate mortgages with confirming loan balances (417,000 or less) remained unchanged at 3.82 percent, with points unchanged at 0.34 (including the origination fee) for 80 percent loan-to-value ratio loans, according to the MBA.

 

http://www.cnbc.com/2016/05/18/lowest-rates-in-a-year-no-enticement-mortgage-applications-down.html

New Off Campus Housing Development for Anderson University

by Terri's Team

AU.jpg

 

College Parke, a 26-unit development just north of the AU athletic campus off Old Williamston Road, will open this fall. This development is targeting Juniors and Seniors at the University as well as AU Professors and Faculty. 

Each of College Parke's 104 bedrooms will be leased out individually for $550 per month, plus utilities. Occupants will share kitchens and common areas, but they get their own bathrooms.

The university will have over 1,500 beds available to undergraduates this fall, including 68 new beds in the Heritage town homes to go with the 76 already now available near the athletic campus. The university also added dorm space along Boulevard on the main campus in the last few years.

 

 

http://www.independentmail.com/news/au-students-targeted-for-new-town-homes-330ec500-f7d5-67ac-e053-0100007fb366-379882691.html

Displaying blog entries 1-10 of 134

Terri’s Team is licensed in SC & GA and located in SC