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Presidential real estate

Posted by Mehran Aram on Mon, Feb 18, 2019 @ 07:02 AM

A 30-acre plot of land in Illinois farm-country once owned by President Abraham Lincoln sold at auction last week, ahead of the Presidents Day holiday. The (Charleston) Times-Courier and Mattoon Journal-Gazette reported last week that land sold for $300,000 or $10,000 per acre. The buyer chose to remain anonymous.

The sixteenth president bought 40 acres in 1841 from his father Thomas Lincoln. Six of those acres have become a part of the Lincoln Log Cabin State Historic Site.

The birthplace, childhood homes and private residences of the nation’s chief executives are often given a special designations as national parks or historic sites. These include the John Adams Mansion, the Zachary Taylor House, Jimmy Carter’s boyhood home and the Bill Clinton Birthplace National Historic Site.

Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 4.25 percent, 15-year rates are near 3.75 percent and the 5-year ARM is averaging 4.25 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.

Topics: Abraham Lincoln, Mortgage rates, President's Day, Presidential Real Estate, Holiday

ARAMCO Report - Wednesday February 18, 2015

Posted by The Aramco Group on Tue, Feb 24, 2015 @ 11:02 AM

The minutes for the Fed’s January meeting was viewed as dovish and bond friendly. Many Fed officials said a premature rate hike would harm the recovery, while only a few thought a later move would risk higher inflation and lead to bubbles. Meanwhile the producer price index fell by a record 8/10ths of a % in January and permits for residential building also fell by 7/10ths of a %. Bonds rallied with conforming no point 30 year fixed mortgage rates averaging 3 7/8ths and 15 year rates closer to 3 1/8th. And now for something completely different… Abraham Lincoln was known for a lot of different things. But did you know he is also in the wrestling hall of fame? He lost only one out of almost 300 matches! 

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942. This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: bonds, Interest Rates, 30 year fixed rates, Federal Reserve, Abraham Lincoln, Wrestling

ARAMCO Report - Tuesday June 17, 2014

Posted by Mehran Aram on Tue, Jun 17, 2014 @ 18:06 PM

Housing starts in May were down by 6.5% compared to April and building permits fell by 6.4%. Weaker economic reports usually spark a rally in bonds and push mortgage rates lower. But not when there are signs of rising inflation. The consumer price index jumped by 4/10ths of a % last month renewing concerns that the Fed may raise rates sooner. Despite higher discount points, conforming no point 30 year fixed rates still average 4 1/4 % with 15 year rates closer to 3 1/4.

And now for something, completely different: Did you know that Abraham Lincoln was the tallest U.S. President at 6’ 4’’ and James Madison was the shortest at 5’ 4’’?

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: Reverse Mortgage, Aramco Report, home purchase, Mehran Aram, bonds, bond market, 30 year fixed rates, Abraham Lincoln, James Madison, Mortgage rates, President, U.S.