Mortgage Rates Boise Id

Source: Investors Real Estate Trust

MINOT, N.D., Sept. 2, 2011 (GLOBE NEWSWIRE) -- Investors Real Estate Trust (Nasdaq: IRET ) (Nasdaq: IRETP ) announced today that on September 1, 2011 its operating partnership, IRET Properties, completed the acquisition of a senior housing portfolio comprised of seven properties located in Idaho for a total purchase price of $33.8 million. The portfolio consists of seven buildings with approximately 261 units totaling 149,744 square feet, with two properties each in Boise and Meridian, and one each in American Falls, Soda Springs and Eagle, Idaho. IRET will lease each of the new properties to a subsidiary affiliate of Edgewood Vista, an operator of senior living communities in the upper Midwest with which IRET has had a long-standing business relationship. The Company placed mortgage debt of $9.5 million on these properties on September 1, 2011, and currently expects to close on an additional $6.6 million in mortgage loans by the end of September 2011.   

IRET additionally announced that it has signed a lease with a Connecticut-based energy company for approximately 20,000 square feet in its approximately 59,827-square foot Gateway Corporate Center located in Woodbury, MN. The lease has an initial term of seven years, commencing September 1, 2011. Following this transaction, the Company's Gateway Corporate Center is approximately one-third leased.   

Separately, the Company announced that its Board of Trustees has declared a regular quarterly distribution of 13.00 cents per share/unit payable on October 3, 2011 to common shareholders and unitholders of record at the close of business on September 12, 2011. The distribution reinvestment price will be the volume weighted average price on October 3, 2011, less a discount of 5%. The Company has filed a registration statement with the Securities and Exchange Commission to register the number of common shares necessary to meet distribution reinvestment elections.

What's Ahead For Mortgage Rates This Week - Home Mortgage Boise

Last week was another volatile week for mortgage rates. Wall Street alternately sought risk and shunned it, causing mortgage-backed bonds to rise and fall rapidly.

There was a lot to move markets, too, including banking concerns across Europe, inflation figures within the U.S., and a public speech by Fed Chairman Ben Bernanke.

Conforming rates in Idaho rose to their highest levels of the week Wednesday afternoon, then receded into the weekend. 3

0-year fixed rates remain above their all-time lows set 2 weeks ago. 5-year ARMs are at all-time lows .

This week, mortgage rates figure to be equally jumpy. As well as a full slate of economic data, because of Labor Day, bond markets will be light on volume. When volume is light, pricing gets volatile.

The week’s calendar of data includes:

Of all the reports, though, it’s Friday’s Non-Farm Payrolls that might move mortgage markets the most.

Jobs are crucial to the ongoing economic recovery and, from Wall Street to Capitol Hill, it’s top of mind.

If the jobs report shows more jobs created than expected, or a positive forward trend, expect bond markets to fall, pushing mortgage rates up. On the other hand, if the jobs report is soft, mortgage rates may improve.

We can’t know what rates in Eagle will do on any given day, so the best strategy for a shopper is to shop with purpose. Know what you want, and be ready to lock when you see it. 

If you wait too long, the rate will be gone.

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