Archive for December, 2011

Happy New Year!

I look forward to working with you in 2012 and wish you all the very best!

Take Care,

Mike Fitch

(208) 283-0989


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Next Open House

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Mortgage rates finish year near historic lows


The nation’s average mortgage interest rates are finishing 2011 near all-time historic lows, helping to keep homebuyer affordability high.

The Freddie Mac mortgage market survey showed the 30-year, fixed-rate mortgage averaged 3.95% for the week ending Thursday, up from the prior week’s average of 3.91%. Last year at this time, the 30-year FRM averaged 4.86%.

This week’s 15-year FRM, a popular refinancing choice, averaged 3.24%, up from last week when it averaged 3.21%.A year ago, the average rate for a 15-year FRM was 4.2%.

Five-year, Treasury-indexed hybrid adjustable-rate mortgages averaged 2.88% this week, up slightly from 2.85% the prior week and lower than 3.77% a year earlier.

And one-year Treasury-indexed ARMs averaged 2.78%, barely rising from last week when it averaged 2.77% but down from 3.26% last year.

“Mortgage rates ended the year hovering near historic lows in an already affordable housing market,” said Frank Nothaft, vice president and chief economist at Freddie Mac. “For instance, the seasonally adjusted S&P/Case-Shiller 20-city composite home price index in October was the lowest seen since March 2003. The largest hit areas were Las Vegas with the lowest reading since January 1997 and Atlanta which was since June 1998.”

Nothaft said he is not surprised then that more than 5% of households in December plan to purchase a home over the next six months, the highest share since May, referring to data from the The Conference Board.

Bankrate reported the 30-year, FRM rose to 4.21% from 4.2%, while the 15-year, FRM rose to 3.44% from 3.42%, and the 5/1 ARM grew to 3.2% from 3.18%.

Freddie Mac is providing regional and national mortgage rate details and definitions.


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Four Seasons Subdivision

Located in Caldwell, Idaho.  Lot prices starting at $15,900!

Call Mike at 283-0989 or visit for more information.

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Rockwell Village

Visit our website for more information on Rockwell Village!

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2 1/2 Street Townhomes

Coming Soon!

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Brittania Heights

Brittania Heights is the last affordable acreage subdivision in the Ada/Canyon county corridor. Just two and half miles from the 10 Mile interchange and 20 minutes to downtown Boise.  Brittania Heights is close to everything someone could want. There are 33 lots ranging from .88 of an acre to 1.25 acres.  Brittania Heights has city water, natural gas, pressurized irrigation, and cable TV/internet.  Each lot will need its own septic tank.  Shops, RVs, and all your other toys are welcome.  There are protective CC&Rs that will not hinder your enjoyment but will protect your investment.  Come enjoy the space that Brittania Heights has to offer.  Lots starting at $59,900. Homes starting in the low $250s.


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Vista Ridge Community Map

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Vista Ridge Subdivision

Lots for sale starting at $19,900!


• Lot sizes from 6,000 to 14,000+ sq. ft.
• Daylight Basement Lots & Basement Lots
• Beautiful View Lots and Waterfall Entry
• 2+ Acre Park w/gazebo, playground & more
• Three Phases – 150+ Total Lots – 47 Lots in Phase 1
• Subdivision models will be open 7 days a week.

Located in Nampa, Idaho off of 12th Avenue near D & B Supply.

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Paramount Subdivision Plat

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