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SNOW STORM UNDERWAY - TRAVEL CONDITIONS TO QUICKLY DETERIORATE

Snow will fall at a modeate to heavy clip through the afternoon and evening with snowfall rates of 1" per hour or more at times.  This will cause rapid accumulations coupled with significantly reduced visibility to produce widespread difficult travel conditions through the evening.  Snow will begin breaking up late tonight with the storm pulling out between 1am and 4am Thursday. Click Here for the CBS6 Weather Forecast Page

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Channel 6 News - Search Results

The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

Home sales, interest rates rise

CLIFTON PARK -- Home sales continued to grow this month, reaching their best numbers since before the recession began. Existing homeowners are also doing well by refinancing their mortgages at low rates.

“For values of houses we're actually above valuation for where we were before the recession occurred,” said Drew Aiello, loan originator at Homestead Funding Corp.

Experts say while interest rates remain comparatively low, the rates have likely already bottomed out.

“They missed the boat, they missed the bus, they missed any type of transportation. That was generational low if not multi-generational lows. The lowest rates in 50 years,” said Dennis Fagan with Fagan Associates, adding there was positive news with increased values. “As the house you own goes up in value you’ll be able to take a home equity loan so we're moving in the right direction, but we don’t want a bubble like we had before. We want a sustainable growth like we have now.”

Aiello recommends homeowners review their current mortgage and try to lower interest rates. He points to a recent study that found many owners still have mortgages above 5 percent interest.

“The only two things I could think of is A) just not getting around to doing it, thinking low rates are going to be here forever,” said Aiello. ”Or B) some people might still be underwater.”

 
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