The U.S. House of Representatives passed H.R. 3211 (The Mortgage Choice Act of 2013) on June 10. According to the National Association of Realtors the act “importantly redefines a provision in the ability-to-repay rule that requires lenders to make good-faith efforts to determine that their borrowers can repay their mortgages before initiating the loans.
Freddie Mac’s June 12 Primary Mortgage Market Survey showed that the 30-year fixed mortgage rose 6 basis points to 4.20 percent. This marked the the second consecutive week that rates have risen. In the second week of June 2013, the 30-year fixed averaged 3.98 percent.
The 15-year fixed-rate mortgage also rose, averaging 3.31 percent, up 8 basis points from June 5 when it averaged 3.23 percent. A year ago at this time, the 15-year fixed-rate mortgage averaged 3.10 percent.
Graduates of the Class of 2014 celebrate the receipt of their diplomas last Saturday, June 14, at Encinal High School. St. Joseph Notre Dame High School graduated on May 31 and Island High on Thursday, June 12.
The Alameda Welfare Council will hosts its 86th Annual Summer Faire “The Stars of Alameda” from 10:30 a.m. to 2:30 p.m., Wednesday, July 30, at the Albert H. DeWitt Club, the O Club, 641 West Red Line Ave.
Tickets are $50 each and include a noontime lunch catered by Asena. Proceeds benefit nonprofits that serve the residents of Alameda. Arrive early to shop at the home and garden boutique, the country kitchen and the jewelry booths. Silent auction items will also be available. Raffle tickets cost $5 each or five for $20.
After its meeting last Thursday, the Alameda Recreation and Parks Commission agreed to make an effort to restore the Isabelle Clark-donated bench at the south end of Jackson Park. The commission heard from a group of residents dedicated to preserving the bench.