Category archive for: News

Mid-Currituck Bridge: A New Link to the Outer Banks

January 20, 2012

According to an article in today’s Outer Banks Voice, the Mid-Currituck Bridge is one step closer to reality.

“The final environmental impact statement has been released on a proposed toll bridge over the Currituck Sound that would stretch between the mainland and Corolla.

The N.C. Turnpike Authority plans for construction on the bridge to start before the end of 2012, with the span opening to traffic by 2017.”

NCDOT states that the Mid-Currituck Bridge will:

  • Substantially improve traffic flow on NC 12 and US 158;
  • Substantially reduce travel time for persons traveling between the Currituck County mainland and the Currituck County Outer Banks; and
  • Substantially reduce hurricane clearance time for residents and visitors who use US 158 and NC 168 during a coastal evacuation.

For more information and history on the Mid-Currituck Bridge, visit www.ncdot.gov/projects/midcurrituckbridge.

ProjectMap

Categories: Environment, News, outer banks, Real Estate, travel.

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Mortgage rates fall to record lows

December 20, 2011

From http://www.linkedin.com/news

By Les Christie @CNNMoney December 15, 2011: 1:44 PM ETN

NEW YORK (CNNMoney) — Mortgage rates sunk to record lows again this week. The average rate on the 30-year fixed mortgage fell to 3.94%, matching the all-time low hit in early October, according to Freddie Mac’s weekly mortgage rate survey.

Meanwhile, 15-year fixed-rate loans hit a new record low of 3.21%, surpassing the record set on October 6.  Five-year adjustable rate mortgages also plumbed new depths, hitting 2.86% for the week. “We’ve been hanging around record lows for a few months now and we finally hit another one,” said Keith Gumbinger of HSH Associates, a provider of mortgage data.

Low-interest mortgages will be available at least through mid-2012, according to Freddie Mac’s chief economist, Frank Nothaft.

The low rates can translate into big savings for home buyers. Five years ago, a home buyer would have been lucky to land a 5% rate on a 15-year loan. On a $200,000 mortgage, that would have meant the borrower would have paid $1,582 a month. Should a borrower land a 3.2% rate on a $200,000 loan now, the monthly mortgage payment would come to $1,400 — a savings of $182 a month.

Categories: Financing, Mortgage Rates, News, Real Estate, Uncategorized.

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