WILMINGTON, NC – Five Star Senior Living, one of the nation’s leading senior living and healthcare service providers, announced the addition of Morningside of Wilmington to their family of managed communities in the state of North Carolina.

The helped living and memory care community will now be able to participate in Five Star’s signature programs like LifeStyle360, a holistic approach to senior health and wellness that focuses on maintaining an active and fulfilling lifestyle.

Residents with dementia will also benefit from Five Star’s Bridge to Rediscovery program, a unique approach to dementia care that is tailored to each resident, providing opportunities to thrive in a nurturing environment.

“We are excited to welcome all the team members and residents to the Five Star Family,” commented Scott Herzig, Chief Operating Officer of Five Star Senior Living. “We are dedicated to helping our residents reach their fullest potential and making a unique experience for each individual.”

Five Star Senior Living operates over 270 Independent Living, Helped Living, Alzheimer’s/Memory Care, and Healthcare Centers with Skilled Nursing & Rehabilitation and Continuing Care Retirement Communities across the country.

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NEW YORK, NY – Mortgage rates reversed course and started moving higher, with the benchmark 30-year fixed mortgage rate registering at 3.76 percent, according to Bankrate.com’s weekly national survey. The 30-year fixed mortgage has an average of 0.18 discount and origination points.

For just the second time since last June, the larger jumbo 30-year fixed came in a tad higher than the smaller conforming loan, at 3.78 percent. The average 15-year fixed mortgage settled at 2.98 percent. Adjustable mortgage rates increased in an even more pronounced way, with the 5-year ARM climbing to 3.18 percent and the 7-year ARM rebounding to 3.38 percent.     

The Federal Reserve has increased talk of a possible June interest rate hike, and markets are nervous about it. For months, there has been a disconnect between the Fed’s expectations for interest rate hikes and what the market believes. In December, the Fed forecast that they would raise interest rates four times this year, then ratcheted that back to two as recently as March. Markets have been dismissive all along, according to the pricing of Fed Funds interest rate futures, with only a 50 percent chance at the December meeting and lower odds at every meeting between now and then. But the rhetoric from the Fed ramped up this week and that was just the beginning. The icing on the cake came with the release of the minutes of the Fed’s April meeting, where it was clear that an interest rate hike could be implemented as soon as June if the economy showed continued progress.

At the current average 30-year fixed mortgage rate of 3.76 percent, the monthly payment for a $200,000 loan is $927.37. 

SURVEY RESULTS

30-year fixed: 3.76% — up from 3.75% last week (avg. points: 0.18)

15-year fixed: 2.98% — down from 2.99% last week (avg. points: 0.14)

5/1 ARM: 3.18% — up from 3.11% last week (avg. points: 0.20)

Bankrate’s national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in 10 top markets.

For a full analysis of this week’s go in mortgage rates, go to www.bankrate.com

The survey is complemented by Bankrate’s weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. The majority of respondents – 70 percent – predict further increases in mortgage rates, and just 30 percent expect mortgage rates to hold at present levels. Fascinatingly, none of the panelists forecast a decline in mortgage rates in the coming week.

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