Thomas Reports was created in 2006. For over 30 years Fred Thomas, III developed a successful career in real estate financing, focused on consumer lending. He is a licensed broker (DRE 01097630) and has managed over two-thousand closed transactions. ThomasReports was created to weave writings and passions under one platform; Real Estate, History, Travel & Culture, Politics and Technology. In today's social media demands, Thomas' voice has been recognized as an official Influencer, Tester and Reviewer for international marketing organizations.
HAVANA, CUBA – APRIL 19: Former Cuban President Raul Castro raises the arm of newly elected Cuban President Miguel Diaz-Canel during the National Assembly at Convention Palace on April 19, 2018 in Havana, Cuba Diaz-Canel will be the first non-Castro Cuban president since 1976. Raul Castro steps down after 12 years in power. (AFP Adalberto Roque/Pool/Getty Images)
This Friday, September 28th will mark a special day in the international community as Cuban president Miguel Diaz-Canel will make his first appearance at the United Nations Cuban Mission, in New York.
Prior to his historic appearance at the U.N., on Wednesday, September 26th he is the invited speaker at the iconic Riverside Church. The event is organized by Pastors for Peace.
During his trip it is expected Diaz-Canel will make an appeal for the half-century old embargo against his country imposed by the United States to be lifted. Also, on his schedule are meetings with U.S. business leaders.
Following a successful transition this past April, Diaz-Canel became president. This followed years of leadership by Raul Castro and his older brother Fidel Castro.
As expected this week’s mortgage numbers saw a slight increase of two basis points to come in at 4.54% The increase is predicated on economic data which continues to show improvement. Another key factor to support the notion that rates will continue to climb is the latest jobs report which saw new jobs at 201,000.
While rates have risen, the biggest dilemma for those who desire a new mortgage is finding homes that are within their affordability range. As an example, in a year over year comparison rates have increased nearly seventy-five basis points or three-quarters of a percent. So, while it is great the economy is moving forward, consumers must deal with the reality that cost of goods and services also increase.
The result is affordability remains a solid metric but the key with mortgage rates is timing and being in a position to qualify and take advantage of mortgage rates based on your budget.
The impact
Average Mortgage Amount – One Year Analysis
Average
Sept. 2018
Sept. 2017
Mo Diff
Nationwide
$202,000
$1,069
$939
-$130
California
$320,000
$1,642
$1,487
-$155
While the mortgage of choice remains a 30-year fixed rate based on its amortization to provide more affordable payment, the average mortgage term is approximately seven years (based on data that consumer needs of refinancing).
As mentioned rates have risen, likewise the economy has also strengthened. For most consumers it’s a dollars and cents evaluation, so in their mind the rise is rates is of concern or something that impacts their buying power. As an example, nationwide the difference of $130 each month translates into $1,560 annually or $10,920 based on a seven-year term. Specifically for those in California the numbers are $155 monthly or $1,860 annually which is $13,020 based on the seven-year term.
The question remains; can your budget handle the increase? does the touted tax-cut provide enough money back into your budget to mitigate the increase?
A snapshot of this week’s mortgage rates (popular programs)
cover photo courtesy of Photo by Alex Wong/Getty Images
Foreign policy advisor to US President Donald Trump’s election campaign, George Papadopoulos and his wife Simona Mangiante Papadopoulos arrive at US District Court for his sentencing in Washington, DC on September 7, 2018. (Photo by MANDEL NGAN / AFP) (Photo credit should read MANDEL NGAN/AFP/Getty Images)
[Washington, DC] Federal District Judith Randolph D. Moss admonished George Papadopoulos for lying to the F.B.I. in his sentence hearing this afternoon. Special Counsel Robert Mueller’s team had suggested a sentence of up to six months. Some thought a thirty-day sentence was more likely but Moss spared Papadopoulos with his 14-day sentence. He also made the point in his sentencing that “the gravity of the investigation and the need to send a message to the public as the reason for the imprisonment.”
The March 31st Apprentice Try-Out
Papadopoulos may very well have been remorseful but it was his antics as he admitted of “trying to impress Donald Trump” which led to today’s decision. In was that March 31st meeting that had the trappings of an Apprentice try-out that Papadopoulos has come to regret.
Papadopoulos has already served what could be defined as house-arrest or supervision for the past year as he awaited the decision from the Mueller team to move the case to the sentencing phase. In addition to 14 days, Papadopoulos was fined $9.500, ordered to complete 200 hours of community service and one-year probation, following serving his sentence.
George was loyal to the Trump campaign and his political candidate which is the reason we are here today, Thomas Breen, Attorney for George Papadopoulos
Papadopoulos claims Session was not truthful
After the hearing Papadopoulos and his wife hurried away in a black SUV. His attorney, Thomas Breen took time to take questions. One comment that caught some by surprise was the intimation that Papadopoulos was confident Attorney General Jeff Sessions was not truthful regarding Russian contacts in his testimony during his confirmation hearings.
President Trump has done more to impede the Russian investigation than my client George Papadopoulos. If he doesn’t know it by now, there should be no mystery that Russia interfered in our 2016 elections, Thomas Breen, Attorney for George Papadopoulos.
Approximately ten years ago we were able to adjust our schedule to allow for a trek to D.C. We picked the last week in August to commemorate and pay homage to the March on Washington. Each trek allows us to visit usual sites and reconnect with friends and over the years we seek out new venues to add to our journey. During our 2018 five-day stay here are several of the sites we visited.
This commercial complex sits in back of Nationals Park. For this trip we stayed at the Residence Inn
Major construction is going on and what was once vacant lots are now high-rises. This is the metro exit looking into Nationals Park.
this is the same street as it looked in 2015 (looking into Nationals Park)
March on Washington Commemoration
Commemorative March on Washington button used as fund-raiser to generate funding for march operations
Even though the original event was held at the Lincoln Memorial, ever since the MLK memorial was erected activities have shifted there.
Sculpture master Lei Yixin who I met at the memorial in 2011
Here is his signature at the bottom of Dr. King’s statue
Smithsonian National Museum of African-American History & Culture
The NMAAHC continues to be a jewel at the national mall. This year our focus was visiting the new Oprah Winfrey exhibit as well as witness the musical rendition commemorating the murder of Emmett Till.
part of group who performed Emmett Till rendition – Outstanding
shot looking into gift shop
the Oprah Winfrey exhibit
The Obama’s
We added to new venue to this year’s trek; seeing the portraits of President Obama and First Lady Michelle at the National Portrait Gallery
President Barack Obama
First Lady Michelle Obama
The Obama’s left the White House in January 2017, so this year we added a visit to see their new residence. Due to high security you will not be able to walk down the street but it is located in the Northwest section of the District. The street on Belmont Road is one way and barricaded. If you are familiar with the Dupont Circle neighborhood, it is northwest (lots of embassies and larger properties). Of course, there is secret service on watch to ensure privacy
Anacostia
Anacostia is located in what is known as Southeast. The Anacostia river separates the main part of the District and this area. Many who visit the District miss visiting this community for various reasons. No doubt, it has been stigmatized due to poverty and other elements which foster negativity. But, for those who truly seek hidden jewels, even that will not stop them for trekking through the community.
The Smithsonian Anacostia Community Museum has an outstanding exhibit to help you better understand how communities all over the District were transformed following de-segregation.
A must-see exhibit which showcases transformation of the District of Columbia
Great Negro League exhibit
Barry Farms is a historic part of Anacostia where African-Americans took up residence. Although much of the community has fallen on hard times and you can see some tough images or extreme poverty, there are still many historic sites you can see. Similar to many communities scattered throughout the United States the community is made up of regular hard-working, law abiding folk. The biggest issue is feeling safe as you venture throughout the community, so while people are people it is not the type of place you just wander about without precautions or maintaining common-sense.
Inside the Barry Farms community is the legendary Goodman leagues outdoor basketball complex. It is world-renowned for its fierce competition featuring some of the best hoop action in the region. Many professional basketball players (those currently playing or those retired or no longer playing) make this a regular stop to mix-it up with regular neighborhood stars. The complex is a testament of how committed people focus on positive attributes to create sacred zones that many communities would love to have.
noun -informal -a person with a particular interest in food; a gourmet.
Any trip takes lots of preparation and planning. An added bonus of going to different places is experiencing foods each region has to offer. Here is a summary of some of the places visited during our 2018 trek.
Busboy’s & Poet’s are well-known throughout the DMV (DC, Maryland & Virginia) area. One of their newest locations is on 5th Street, NW & K in the District of Columbia. They are known as a cultural enclave which combines bookstore with great food and inspiring art showing social consciousness.
Oohh’s & Aahh’s is located in the District of Columbia and part of the “U” street corridor directly across the street from the African-American Civil War monument. Their specialty is soul food. The venue is tight but there is limited seating upstairs, however be prepared to wait for seating. The other option is take-out but be patient as the line can be long. Pricing is affordable.
Lunch special – Fried Shrimp – Mac & Cheese and Greens
Sweet Home Cafe is part of the National Museum of African-American History and Culture located in the national mall at the District of Columbia. They give you a glimpse of African-American cuisine based on regions. It is a remarkable presentation. The food is fresh and there is a nice variety. Pricing may appear on the high side but it is worth it based on the venue and convenience.
Mortgage rates inched up this week to land at 4.520%. The one basis point rise in week over week reporting is not the biggest news. The rate represents the benchmark thirty-year conventional mortgage.
(Photo by Mannie Garcia/Bloomberg via Getty Images)(Photo by Joshua Roberts/Bloomberg via Getty Images)
Low rates do not mean a thing if you can’t find an affordable home!
Affordability index
For most homebuyers or even those wishing to take advantage of low rates, the trick is having the credit to quality and having the down payment (or sufficient equity). Recently, another element has been added to the equation of securing a home; finding an affordable property. For many the reality of an “average home price” results in sticker shock. Some parts of the country have the price well over $500,000, and that is for first-timers!
The result of would be buyers remaining on the sidelines is a reduction of mortgage applications. If the pace continues, expect lenders to trim staffing so their operations are “right-sized.”
Rates are cyclical and while many in the public policy arena tout a positive economic environment, for homebuyers that news triggers higher interest rates as well as higher home prices.
Here is a snapshot of this week’s rates:
August 30, 2018
30-Yr FRM
15-Yr FRM
5/1-Yr ARM
Average Rates
4.52 %
3.97 %
3.85 %
Fees & Points
0.5
0.5
0.3
Margin
N/A
N/A
2.77
Freddie Mac is an institutional investor and provider of mortgage funds to local lenders who work with consumers but sell the mortgages to them. Each week they publish the mortgage market rate survey which is data obtained from a sample of their pool of lenders.
[Washington, D.C.] On Wednesday, August 22nd Ben’s Chili Bowl celebrated its 60th anniversary. Starting by selling half-smokes, Ben’s has morphed into an institution. Locals understand the lore and many who visit the District of Columbia always make room in their schedule to stop by the iconic restaurant, if nothing more than to pay respect.
On Friday we were treated to be in the company of Ben’s grand dame and family matriarch Mrs. Virginia Ali. She was her usual radiant self and took time to chat with my dear friend Renie Hale (Laurel, MD) and myself. As an added treat she invited me outside to showcase the new murals. In between she expressed views of how Ben’s must continue to meet the needs of a changing community to insure it remains a mainstay on U and the broader DC business community.
Another unexpected surprise was meeting Ben’s historian, Dr. Bernie Demczuk. We were presented with one of his great compilations.
(please accept our apologies for the soiled document)
I’ve been fortunate to hear “The Queen of Soul” – Mrs. Aretha Franklin perform in person a couple of times. The last time was the most memorable.
It was that majestic Tuesday morning on January 20, 2009 as millions were on hand for the inauguration of president Barack Obama. As the “Queen” made her way to the podium you knew you were witnessing history. Her rendition of My Country Tis of Thee was precious. Her impeccable precision and the way she performed the song lifted your spirit. The special hat she donned added to the regalness of the event.
As a matter of fact, many will remember the weather was brisk as the D.C. winter chill hovered around 15 degrees. Days after the great event, Aretha mentioned the chill affected her voice and in her great fashion she re-recorded the song in a more professional setting. It became a huge success and this tidbit added to the lore of why Aretha proudly wore the crown as the “Queen.”
Donald Trump with Darryl Scott photo credit – TIMOTHY A. CLARY/AFP/Getty Images
Following another meeting to engage the African-American community, last week on August 1st, the Trump administration hosted a “briefing” session which included approximately twenty ministers allegedly representing the community. Those in attendance thought the discussion was about prison reform, recidivism and other social issues and programs to uplift the community? As the case with many of these types of events, the discussion was one-sided. Adding insult to injury it is being reported the administration selected two ministers who were told to make comments. The primary role for others in attendance was to take part of the photo-op.
One minister who was selected to speak was the slack-jawed Pastor Darryl Scott who heads up the New Spirit Revival Center in Cleveland Heights, Ohio. He proudly professes his support for Trump, yet his comments are a stark contradiction of Trump’s track-record in dealing with African-Americans.
As predicted Scott’s comments drew the ire of African-American ministers across the globe
“The Black ministers who met with Donald Trump denigrated the divine and ancestral legacy of the Black churches in America and they dishonored the ministries of Jesus Christ, the prophets, and those sent by God,” Rev. Dr, William Lamar of Metropolitan African-American Episcopal church
The consensus from those who attended was disappointment as while Trump did get his coveted photo-op, the ministers did not walk away with any substance or policies or programs to deal with the issues that were purported to be discussed.
While several in attendance were happy to be in the White House with Trump, some must be reminded of the history and focus of the church, “These ministers are just a little worse than Black preachers who sit with Democrats and refuse to demand justice. We sit with emperors, not to take pictures, but to demand the God’s people be free. These preachers know the church, they know Black respectability, they know American civil religion, but they do not know the prophetic tradition of the Black church and they do not know the liberating gospel of Jesus Christ,” Rev. Lamar, Metropolitan AME
Even though this issue occurred a little over a week ago, it is being blown up on social media. Two videos are listed below to help provide a better perspective on this issue.
From the perennial Alfred Street Baptist Church which is just minutes from the White House and located in Alexandria, VA – Senior Pastor, Rev. Dr. Howard John Wesley delivers his August 5th sermon.
CNN reporter Don Lemon interviews Pastor John Gray following his participation in the meeting
Here is the open letter to 45 from members of the clergy
Shawn Carter (affectionately known by the world as Jay-Z) and Cinemart have given reason to tear open the scab that was created from a painful wound of the Trayvon Martin verdict. Rest in Power: The Trayvon Martin Story aired the first of its six part docuseries this past Monday, July 30th. The tally is unofficial but at least 1.2 million viewers tuned it and were taken back five years when George Zimmerman was found not guilty in killing Trayvon Martin.
Whatever your feelings regarding the tragic incident which cut down the young life of Trayvon, the opening airing was riveting and offered some powerful scenes, some never shown before.
For me the February 2012 incident was personal. Our son was in his final semester at Bethune-Cookman University which is located in Daytona Beach. We were preparing to see him at graduation in May. When news of the incident fanned outside of Sanford I called my son to ask if he had heard of the news? Indeed he had and reminded me when we visited, Sanford was only thirty miles from Orlando was right off I-4. His graduation was slated for May in 2012 so we agreed to visit the site and research the incident, including Martin’s movement to the 7-11 and back to the site were he was gunned down.
Some may dismiss the docuseries but from the first showing I would encourage people to tune in. All along, from carefully following the incident including the subsequent trial, I concluded the prosecutor’s simply did a poor job in presenting the facts of the case. Notwithstanding while the prosecution blew the case in holding Zimmerman guilty of the killing, Martin’s parents; Tracey Martin and Sybrina Fulton did win several civil legal settlements including the homeowner’s association who was guilty by having Zimmerman associate with them as their pseudo neighborhood watchman.
Next airing: Aug. 6, 10pm (est)
**REPRINTED WITH PERMISSION FROM THE URBAN BLOGG, ORIGINALLY POSTED JULY 13, 2013**
Whether it was the State who didn’t get their message or evidence across, or the Defense who put up road blocks that verified doubt, the bottom line is the 6 women Jurors found George Zimmerman not guilty. Or, could it be they just couldn’t find sufficient evidence to find him guilty?
While the news is surprising, as in my mind I have no doubt George Zimmerman was guilty of murdering Trayvon Martin and should have been found guilty…..I was not a juror, so the struggle must go forward. Your thoughts???????
For Zimmerman supporters, the news brings joy and their voice will recant this case never should have been tried. For supporters of Trayvon Martin and his family, including me this is a travesty of justice.
Thomas Reports 