Page 4 Friday, November 20, 2020
Existing home sales up 4.3% in October, fifth monthly gain ASSOCIATED PRESS CHARLOTTE, N.C. — Sales of existing homes rose for a fifth straight month in October, reaching a level not seen since before the housing bubble popped 14 years ago. The National Association of Realtors said Thursday existing homes sales rose 4.3% to an seasonally-adjusted rate of 6.85 million annualized units. Reflecting the searing-hot housing market, that figure is up 26.6% from a year earlier. The 6.85 million figure is the highest for that data since February 2006 — the eve of when the housing market reached its apex and subsequently collapsed. Realtors and housing market experts have said the housing market is in a different and healthier place than it was the last time sales were at these levels. With interest rates at near-record lows, mortgage rates have dropped to historically low levels. Also the pandemic has caused many families to seek out different living arrangements to reflect that many people are likely to work remotely for the foreseeable future. But the housing market is now heading into the winter months, and with resurgent cases of coronavirus nationwide, it is more likely that the housing market will take a pause in the coming months instead of rocketing even higher. “We do expect the pace of sales to slow in the fourth quarter, with a weak recovery, resurgent pandemic and depleted inventories weighing on activity, although the risk may be for further upside surprises,” said Nancy Van Housten, lead U.S. economist for Oxford Economics
THE GARDEN ISLAND
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Delicate harmonies Create balance in the bath BRANDPOINT
The bath space should feel spa-like in nature and create a sense of tranquility. To establish balance within the bath, coordinate different design styles and incorporate striking natural details. Bathrooms that push the boundaries on contrast, while maintaining a minimalistic tone, create the most coveted sanctuaries. Natural minimalism Consider choosing earth tones like mocha and rust to bring richness and warmth to the bath. The addition of texture also disrupts the uniformity of a space. For instance, larger visual elements like pebble flooring, a stone tub or a concrete window bench deliver unexpected interruption without feeling obtrusive. Additionally, incorporating organic touches such as live plants or greenery balances the raw minimalism of the unfinished materials. Complete the space with a custom-made mirror with warm backlighting for a functional and luxurious finishing touch.
space to create additional smaller pops of contrast. For instance, the classic combination of gold and onyx works effortlessly as a standalone element, Stunning combinations Nero Marquina is renowned for or beautifully when incorporated against a monochromatic feature. its rich black hues and distinctive white veining. Movement Perfect imperfection varies by slab, and when paired Embrace the beauty found in with hand-selected stone that imperfections, a key element of complements or contrasts the the Japanese philosophy of wamarble, the space becomes the bi-sabi. A deeply veined marble perfect backdrop for a luxurious wall, such as Calacatta Macaubas soak. Quartzite, alludes to both the Further experiment with hard- principles of wabi-sabi and to ware and fixtures throughout the “Kintsugi,” the Japanese method
of repairing broken pottery using lacquer dusted with powdered gold. Select additional elements that carry these philosophies through the space, such as the Single-Handle Lavatory Faucet from the Kintsu Bath Collection by Brizo. The faucet handle displays clean, unbroken lines while in the off position, demonstrating the streamlined form of Scandinavian minimalism. When in use, the handle creates a broken visual line, celebrating the principles of wabi-sabi.
Exquisite details Opt for strong geometric shapes as both primary and supporting elements within the bath. A cherry wood vanity can act as the focal point or as an understated base to house a variety of accessories. Create stunning contrast with light and dark tones by adding a mother of pearl soap dish or inlaid cabinet hardware against black lacquered surfaces. From small accents to larger statement pieces, establishing a balanced aesthetic within the bath will instill a sense of peace.
US mortgage rates fall to new lows; 30-year loan at 2.72% ASSOCIATED PRESS WASHINGTON — U.S. long-term mortgage rates fell this week, reaching record lows for the 13th time this year amid fresh signs of weakness in the pandemic-ravaged economy. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year benchmark loan declined to 2.72% from 2.84% last week. By contrast, the rate averaged 3.66% a year ago. The average rate on the 15-year fixed-rate mortgage eased to 2.28% from 2.34%. Home loan rates have trended downward through most of this year, bolstering demand from would-be homebuyers. Fresh signs emerged this week that the resurgent coronavirus outbreak is likely slowing the economy and forcing more companies to cut jobs. The government reported Tuesday that retail sales in the U.S. — representing about a third of overall consumer spending — grew a sluggish 0.3% in October, even as retailers offered early holiday discounts online and in stores. And a report Thursday from the Labor Department showed that the number of Americans seeking unemployment aid rose last week to 742,000, the first increase in five weeks. The worsening pandemic and the arrival of cold weather could accelerate layoffs in the weeks ahead. Of the roughly 20 million Americans now receiving some form of jobless benefits, about half will lose that aid when two federal programs expire at year’s end.
Is now the right time to refinance your mortgage? Consolidate your debt with a lower payment. You can get some of the lowest rates in the state, plus your money stays on Kaua‘i.
Visit us online at www.kgefcu.org to learn more. Anyone can be eligible for membership with KGEFCU