Mary Foley Real Estate Inc.
Photo by Ferenc Keresi via Pixabay
Color can – and should – be used to decorate your home, but for most of us, too much bright color is more obnoxious than invigorating. Those screaming bright yellow walls may look amazing in the magazine spread, but you may not be prepared to live with that much color in your own space. Opting for colorful accents instead of going all in and painting a room a bright tangerine, violet or apple green can help you create an appealing space that is comfortable but not overwhelming.
Bright colors can be most appealing and impactful in smaller doses, according to HGTV. Learning how to incorporate them into your home without creating a chaotic and overwhelming space is key to using bold, lively shades in your décor.
Create an accent wall: A single wall painted with bold color or adorned with a bright, patterned wallpaper can become a focal point. It is also an inexpensive way to make a colorful statement without overwhelming your space or your bank account. Best of all, because you are only painting or covering a relatively small space, you can splurge on amazing paper or paint products.
Use textiles: You don’t have to buy brightly colored furniture to make a splash in your space. Use bright throws and accent pillows to liven up the room instead. These accents are easily swapped out if you decide you need a more traditional look and are easy to switch for different seasons or holidays, too.
Invest in art: A striking large canvas or mural can be an amazing focal point for your room and pull things together. Consider one large or several small pieces to light up your space and create an intriguing and appealing look for any room in your home.
Use rugs and flooring: Area rugs in a single bright color or with lots of color and texture can add a punch of color to any room, without overwhelming it. Use a rug to pull the room together with a new color you want to try, without committing to permanent changes.
Choose decorative accents: Home stores and sites abound, so if you want to test out a color, you’ve got many ways to do it. Choose your preferred color or palette then look for accent pieces from candles and picture frames to sculptural elements and tablescapes.
Before you commit to painting a wall or room, test out colors you think you like in smaller, more easily removed items, like the ones described above. This will help you determine your personal comfort level with bold colors and allow you to create a space that is uniquely yours.
Mortgage rates in 2019 are as low as they’re ever been. The downward trend caught a lot of people by surprise. In 2018, there were predictions that they’d be on the rise, possibly moving to 5 percent and higher. Instead, they’ve ducked comfortably under 4 percent. Will they stay there? If you’re thinking of buying a home, do you have to jump in now or say goodbye to your best opportunity to nail down inexpensive financing?
Most experts think so. A survey of 10 real estate and finance professionals by The Mortgage Reports found that most of them expected 2020 rates to continue at 2019 levels. The average prediction was that rates will remain under 4 percent, with 30-year rates in the high threes and 15-year in the low threes. Two disagreed, with one saying they would move back above 4 percent and one forecasting they would dip below three.
After all, the drop in 2019 fooled them. There are several things that could happen in 2020 to change the outlook. We’re overdue for a recession – the economy has been growing for 10 years now and it won’t grow forever. A severe one could drop rates even lower. Another X-factor is trade wars, which tend (although not with absolute predictability) to foster low rates. A resolution of international trade disputes could actually cause mortgage rates to rise. Also, the increasing federal deficit is bringing new debt to the market, which may cause mortgage rates to have to rise to attract investors.
Most young people and many middle-aged people have no recollection of inflation and high interest rates. In the 1980s, mortgages peaked around 16 percent. There was a slow decline until the turn of the century, and even in the first decade of the new century rates hovered in the 5 to 6 percent range. It’s only since 2009 that they’ve dropped to under 5 percent. Even a rise from today’s level would leave a rate that’s low by historical standards.
Continued low interest and mortgage rates (along with other factors such as low unemployment) will continue to stoke demand and keep housing prices on the rise. Low rates put home ownership within the reach of more buyers: on a $250,000 home, a 1 percent change will make a difference of about $200 in a monthly payment.
Even if mortgage rates get lower, some of a new home buyer’s savings will be offset by a faster rise in prices. If you’re not in a position to buy today, indications are that the low rate opportunity will be open for a while longer. But if you’ve been thinking about moving on home ownership, it’s hard to imagine there’ll be a more opportune time to get a friendly mortgage. With rates as low as they are, if the experts are wrong there’s more room for interest to move up than to move down.
This may also be an excellent time for current homeowners to refinance, especially those with high rates or variable rates. Consider all the costs as well as the length of the new mortgage, but there’s a good chance the numbers will work out.
