Brookfield/Elm Grove Monthly

FEBRUARY 2014 Freeman Brookfield & Elm Grove • Page 3A BUSINESS NEWS 'Luckily, rates should only go up little by little ...' ened in 2013, interest rates rose 1 percentage point. The rate could be pushed up even From Page 1A higher as the Federal Reserve As a rule of thumb, homeowners winds down its $85 billion monthly should consider refinancing if bond-buying program. For each their mortgage rate is a half-perpercentage point increase in mortcentage point higher than the gage rates, it causes homes to be going rate, said Joshua Bucio, a about 10 percent more expensive in senior mortgage adviser for Waterterms of housing payments, NAR stone Mortgage, which has a statistics showed. Brookfield office at 17035 W. WisThis year will also bring a tighter consin Ave. credit standard for homeowners Before refinancing, though, look hoping to refinance, Laitsch said. When in doubt and think long term; otherwise, it "But, if people are working and may not be worth it. When in doubt about refinancing, have decent, verifiable jobs, really "I always ask the question: 'How Christofferson recommends sitting anyone should be able to refinance long do you plan on living in that their home," Laitsch said. down and speaking face-to face home?'" Bucio said. "That has The three main reasons Laitsch with a local home lender, rather everything to do with it." said he sees for people refinancing than relying on the Internet for If homeowners plan to only stay their homes are wanting a lower research. And, if homeowners are in the house for a few years, Bucio thinking about refinancing, speak payment, wanting some extra cash said it might not be worth it to refi- with someone sooner rather than for home improvements, or they're nance. Often, it can take a few going through a lifestyle change, later because interest rates are years before people begin seeing such as a divorce. expected to continue to climb cost-saving benefits to offset the The good news for 2014, Bucio through 2014. costs of refinancing. said, is that he doesn't expect interAverage rates for a fixed 30-year "Let's say they're going to be mortgage will rise to 5.5 percent by est rates to rise dramatically. there 10 years, or sometimes I'll get the end of 2014, according to "Luckily, rates should only go up 'I'm going to die in the house I have National Association of Realtor's little by little," he said. "It's not now,'" Bucio said. "Then refinanc- statistics. As the economy strength- going to be a dramatic change." Refi ing could make sense. Often, you need two to three years before you break even and start seeing savings." It's always important for homeowners to know how long it will take for them to recoup costs, said Jeff Laitsch, president of Assured Mortgage, 12660 W. Capitol Drive, Brookfield. "Know how many payments you have to make in order to start saving money," he said. near Sears. Mall General Manager Scott Oleson said Shoe Carnival will occupy about a BROOKFIELD – Scott Thistle, 10,000-square-foot space. The store should open by early sumprincipal of Brookfield-based Halen Homes, has received the mer. The four stores that are leaving and will be replaced by 2013 Metropolitan Builders Shoe Carnival are Kitchen ColAssociation's Builder of the lections, Scott's Brewery ColYear award. Thistle received lectables Lids Locker Room and his award on Dec. 5 at the 2013 Tiger Lilly Oleson said. Shoe , MBA Achievement Awards, Carnival is a national retailer of according to a Halen Homes footwear brands, such as Keds, statement. The Builder of the Clarks, Crocs and New Balance. Year award recognizes leaders in the building industry who Granite Financial joins exhibit excellence in quality craftsmanship, can navigate LPL Financial challenging economic times BROOKFIELD – Granite and show strong personal charFinancial Group has joined LPL acter, according to the stateFinancial LLC, an independent ment. In his role as principal, This- broker-dealer. LPL Financial is a registered tle directs market analysis, investment adviser custodian land acquisition projects and general operations for the com- and wholly owned subsidiary of LPL Financial Holdings, with pany He has been an active . offices in Boston, Charlotte, member of the homebuilding and real estate communities in N.C., and San Diego. According to a statement, southeastern Wisconsin, as Brookfield-based Granite well as an MBA member, for Financial has joined them as an the past 10 years. independent hybrid registered Shoe Carnival to open in advisory firm. Financial advisers Ellen Brookfield Square Mall Duhamel and Thomas Dornoff BROOKFIELD – Shoe Carnilead Granite Financial, the val is planned to open in Brook- statement said. field Square Mall and will For more information, visit replace four existing stores www.lplfinancial.lpl.com. Thistle named MBA Builder of the Year A financial services organization like no other Upcoming workshops 2/13 Advanced Estate Planning 6:00-7:00pm Register by 2/7 3/13 Retire with Confidence 6:00-7:00pm Register by 3/7 4/24 Economic Update 6:00-7:00pm Rewa rd ash C Register by 4/18 Seating is limited, contact Gail Krecklow at 262-439-8587 to reserve space. OFFER Call today to find out what sets us apart! Goerke's Corners Associates 13500 Watertown Plank Rd. Suite 207 Elm Grove • 262.439.8587 236543001 236495002

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