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Columbia Missouri Real Estate ~ Our Prudential Agents
Visit my web site! www.davemcc.com
Dave McConnell, REALTOR®
Dave McConnell
Dave has 24 years of experience in the Midwest in residential and commercial operations in marketing, merchandising, and business ownership, as well as experience developing residential property. He has dealt with details and solved problems in all areas of client service and has won top honors in several fields. He has extensive experience in client satisfaction, business management, and contract negotiations. He will apply this knowledge and expertise to your individual real estate needs to ensure that he is able to find or sell the perfect property for you, whether commercial or residential. You can see from his background that he has the experience and knowledge to handle all of your property needs quickly and efficiently.
Dave enjoys golfing, fishing, landscaping, and many other forms of outdoor recreation. Most of all he enjoys Missouri for its laid-back atmosphere and natural beauty. Married to Beverly and a resident of Boone County since 1995, he has his finger on the pulse of this area. His long time knowledge and appreciation of central Missouri are a real plus in providing individuals and businesses with a pleasant, skilled, and rewarding experience in all their real estate needs.
Office Phone: (573) 449-6200
Mobile/Cell Phone: (573) 881-0173
Fax: (573) 449-6202
Email: Dave@prudentialvision.com
Web Site: DaveMcC.com
US Mail & Office Location:
103B Corporate Lake Place
Columbia, MO 65203
Driving directions to the office:
- In Columbia, MO, take Providence south to Corporate Lake Drive
- Turn right onto Corporate Lake Drive
- Turn right onto Commercial
- We're on the right, behind Columbia Performing Arts Center
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Impact of Interest Rates
When choosing between an adjustable-rate mortgage and a fixed-rate mortgage, many people don't realize that they are making a choice between a mortgage on which the interest rate is determined by either short-term or long-term interest rates. "What's a short-term versus a long-term interest rate?" you say. When a mortgage lender quotes an interest rate for a particular type of loan, he should specify (in terms of how many years until the loan is completely paid off) the length of the loan.
Most of the time, borrowers must pay a higher interest rate to borrow money for a longer period of time. Conversely, borrowers generally pay a lower rate of interest for shorter-term loans. So?
Well, the interest rates that are used to determine most adjustable-rate mortgages are short-term interest rates; whereas fixed-rate mortgage interest rates are dictated by long-term interest rates. During most time periods, longer-term interest rates are higher than shorter-term rates because of the greater risk the lender accepts in committing to a longer-term rate.
It stands to reason, therefore, that when little difference exists in the market level of short-term and long-term interest rates, the rates of fixed-rate mortgages shouldn't be all that different from the rates of adjustable-rate mortgages. Thus, adjustables appear less attractive, and fixed-rate mortgages appear more alluring.
On the other hand, when short-term interest rates are significantly lower than long-term interest rates, adjustable-rate mortgages should be available at rates a good deal lower than the rates for fixed-rate loans. All things being equal, adjustables appear more attractive during such time periods and save you more money during the early years of your loan.
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