Councilman Marks provides update on Kingsville Park upgrades

Marks Kingsville ParkBaltimore County Councilman David Marks recently toured Kingsville Park, where his office has been working with Baltimore County to upgrade the deteriorating fields. Kingsville Park is a 23-acre recreational area located at 11700 Franklinville Road.

The $636,500 project will improve drainage at the ballfields, upgrade the parking area, and make areas accessible to disabled visitors. At this point, the Department of Recreation and Parks anticipates that the upper fields will be finished this summer, and then work with start on the lower fields.

“We have been working with the Kingsville Recreation Council and the Department of Recreation and Parks for several years on this project,” Councilman Marks said. “Many thanks to Director Barry F. Williams and county staff, as well as all the volunteers and parents with the Recreation Council for their patience as this work advances.”

Kingsville Park is one of five recreation projects completed or underway in the northeast since 2010. Councilman Marks also worked on Angel Park, Soukup Arena, the Perry Paw Dog Park, and Gough Park.

The Kingsville Park project has been especially complicated because work is also underway to air condition Kingsville Elementary School, forcing teams to use other nearby parks.

Former Perry Hall bank building could become Dunkin’ Donuts

Old Key Bank Perry HallCould a former bank building in Perry Hall soon become a doughnut shop?

It’s a very real possibility, according to Baltimore County Councilman David Marks.

Councilman Marks revealed on Friday that an application has been submitted to convert the old bank building in Perry Hall’s Silver Spring Shopping Center, located near the intersection of Belair Road and Silver Spring Road, into a Dunkin’ Donuts.

The application says the following: “The proposed project is to take over the existing freestanding bank (1,864 sf) and convert it to (a) Dunkin’ Donuts restaurant with a drive-thru.”

The application will be considered by the Baltimore County Development Review Committee.

Baltimore mortgage rates steady to begin February

Baltimore Mortgage Ratesby Chris Montcalmo, Sierra Pacific Mortgage

Freddie Mac on Thursday released the results of its Primary Mortgage Market Survey, showing average 30-year Baltimore mortgage rates holding steady after rising last week.

The 30-year fixed-rate mortgage (FRM) averaged 4.19 percent with an average 0.5 point for the week ending Feb. 2, 2017, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.72 percent.

The 15-year FRM this week averaged 3.41 percent with an average 0.5 point, up from last week when it averaged 3.40 percent. A year ago at this time, the 15-year FRM averaged 3.01 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.23 percent this week with an average 0.4 point, up from last week when it averaged 3.20 percent. A year ago, the 5-year ARM averaged 2.85 percent.

 

“The 10-year Treasury yield fell 5 basis points this week following a tepid advance estimate of fourth-quarter GDP and the Fed‘s decision to leave rates unchanged,” said Freddie Mac chief economist, Sean Becketti. “The 30-year mortgage rate remained flat at 4.19 percent, starting the month 47 basis points higher than this time last year. Despite the uncertainty in the market, the pending home sales index increased 1.6 percent in December, up from a decline of 2.5 percent the month prior.”

To find out more about about current Baltimore mortgage rates and programs, contact Chris Montcalmo, Mortgage Consultant with Sierra Pacific Mortgage by clicking here.

  • Chris Montcalmo Mortgage

Baltimore mortgage rates creep higher

Baltimore Mortgage Ratesby Chris Montcalmo, Sierra Pacific Mortgage

Freddie Mac on Thursday released the results of its Primary Mortgage Market Survey, showing average 30-year and 15-year fixed mortgage rates rising.

The 30-year fixed-rate mortgage (FRM) averaged 4.19 percent with an average 0.4 point for the week ending Jan. 26, 2017, up from last week when it averaged 4.09 percent. A year ago at this time, the 30-year FRM averaged 3.79 percent.

The 15-year FRM this week averaged 3.40 percent with an average 0.4 point, up from last week when it averaged 3.34 percent. A year ago at this time, the 15-year FRM averaged 3.07 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.20 percent this week with an average 0.4 point, down from last week when it averaged 3.21 percent. A year ago, the 5-year ARM averaged 2.90 percent.

“The 10-year Treasury yield increased more than 10 basis points this week,” said Sean Becketti, chief economist at Freddie Mac. “The 30-year mortgage rate moved up as well to 4.19 percent, a 10 basis point jump. This week marks the first increase in the mortgage rate since December 29.

“The 2.8 percent decline in existing home sales in December is a reminder of the lack of homes for sale,” Becketti added. “According to the National Association of Realtors, supply is at its lowest level since 1999, a factor that should support higher house prices regardless of the oscillations of the mortgage rate.”

To find out more about about current Baltimore mortgage rates and programs, contact Chris Montcalmo, Mortgage Consultant with Sierra Pacific Mortgage by clicking here.

Chris Montcalmo Mortgage