Brookfield/Elm Grove Monthly
Issue link: https://www.ifoldsflip.com/i/249604
The FREEMAN Brookfield & Elm Grove THIS MONTH FEBRUARY 2014 INSIDE PRSRT STD US POSTAGE PAID WAUKESHA, WI PERMIT NO. 3 Mayor Ponto facing challenge from former Mayor Speaker 2A Hello, Brookfield & Elm Grove! Charles Auer/Freeman Staff This house at 16925 Hidden Pond Court in Brookfield is listed for $475,000. It has four bedrooms and 3.5 baths. Lancers end Germantown's win streak 8A Home refinancing could drop off as market continues rebound By Kirsten Klahn Good news, bad news Special to The Freeman Calendar of events 6A field. "It's slowed down quite a bit since this time last year," Christofferson said. "It's dropped off significantly because interest rates are a full 1 percent higher than last year." It doesn't make sense for homeowners to refinance their homes now, he said, if they've already taken advantage of even lower interest rates in 2013. However, for those who are paying higher than a 4.375 percent interest rate, now could be the best time to consider refinancing. See REFI, PAGE 3A Like us on Facebook: www.facebook.com/WaukeshaFreeman Follow us on Twitter: www.twitter.com/WaukeshaFreeman 235788005 235668001 Barbara Eash antiques column 5A But, while good news surrounds the housing market, there's usually BROOKFIELD – Good news for the some bad news lurking around the Brookfield home market could lead corner. As the housing market sucto bad news for those hoping to refi- cess returns, it also leads to higher nance or find a new house. mortgage interest rates and more Nationally, foreclosures rates have expensive homes. dropped to their lowest levels since While 2013 brought historically 2006, before the housing bubble low 3.625 percent interest rates on burst. Existing home sales were an average 30-year mortgage, 2014 expected to be about 10 percent high- has seen that average creep up to er in 2013 than 2012 and stay about about 4.375 percent. the same in 2014, according to That's causing fewer homeownNational Association of Realtor ers to refinance their homes, said data. Home prices are expected to DJ Christofferson, senior loan origincrease about 3 percent in the com- inator for Providence Home Lending year, a Zillow forecast predicts. ing, 200 S. Executive Drive, Brook- Brookfield & Elm Grove This Month is free and will arrive in your mail the first week of each month. In each month's edition we will take an in-depth look at an issue, person or other story in the community. We will also provide other important information such as community activities and updates on local stories. We encourage you to subscribe to the daily Freeman for coverage of Brookfield, Elm Grove and the rest of our area. To subscribe, to reach one of the editors with story ideas or for photo reprints, call 542-2500. We hope you enjoy this month's edition. – Freeman editors