"The fact that this swoon in rates has occurred as and when it has underscores the fact that accurately predicting the future of rates is difficult indeed. So, instead of trying to outsmart the market, go with what you know for certain which is where rates are right now," Hamrick advises. "Between the pace of the news cycle and economic developments, the environment can change with the release of a single presidential Tweet. In an uncertain environment, seize upon certainty where you can find it." … [Read more...] about As mortgage rates plunge, should you refinance?
Best 20 year refinance rates
CES HearingThe Senate Energy and Natural Resources Committee held a hearing May 17 to consider Chairman Jeff Bingaman’s (D-NM) Clean Energy Standard Act of 2012 (S. 2146). Department of Energy acting energy undersecretary David Sandalow and Howard Gruenspecht, acting head of the Energy Information Administration, said that the proposal would not lead to higher energy bills for consumers despite causing a projected increase in electricity rates. According to a May 2 EIA report, the projected average end-use electricity price would increase by less than 4 percent in 2025 and 18 percent by 2035 while reducing power sector emissions by 20 percent below their reference case in 2025and by 44 percent in 2035. The legislation would require utilities to obtain a certain percentage of their electricity from clean sources, including renewable energy, nuclear power, natural gas, and clean coal, beginning with 24 percent in 2015. Though there is little chance the measure will be enacted this … [Read more...] about Energy and Environmental Law Update – May 20, 2012
Senator Menendez’ renewable energy tax extenders bill was not the first, the most recent coming from Senator Debbie Stabenow (D-MI) as an amendment to the Senate version of the highway bill, nor will it be the last. Though it is likely that similar language will be offered to most major pieces of legislation that move in Congress through the summer and fall, it is likely that it may be included as some part of a larger bargain during the lame duck session at the end of the year. When such a debate does take place, one potential trade off scenario could be that sequestration would be postponed for a year, the so-called Bush tax cuts would be extended for a year, and the energy tax credits scheduled to expire at the end of 2012 would be extended for a year, probably with some tweaking. In exchange, some reconciliation would need to be made with respect to spending cuts, potentially resembling a package that the Super Committee discussed but never formally endorsed, including … [Read more...] about Energy and Environment Law and Regulatory Update – April 2, 2012
CA Climate Law Paves Path ForwardCalifornia Air Resources Board Chair Mary Nichols told the Navigating Climate Regulation on Dual Tracks conference March 14 that the state’s climate change actions are reducing emissions and offering a guide for federal standards. California is on track to achieve the 80 percent emissions reductions by 2050 called for under its climate law (A.B. 32).MA Food Disposal BanMassachusetts’ Executive Office of Energy and Environmental Affairs announced March 17 that commercial food providers in the state that throw away a ton or more food a week will be required to divert the waste to energy producing or compost facilities beginning this October. Governor Duvall Patrick (D) has begun issuing up to $1 million in grants to farms and wastewater treatment plants to build composting and anaerobic digestion facilities to process the food waste. … [Read more...] about Energy and Environmental Law Update – March 24, 2014
The Biomass Power Association, the Energy Recovery Council, the National Hydropower Association, and the Geothermal Energy Association sent a letter to President Obama December 7 urging him to modify the production tax credit for renewable electricity to allow projects under construction by the end of next year, rather than projects placed in service, to qualify. The commence construction language is included in tax extenders legislation (S. 3521) the Senate Finance Committee approved in August. The $205 billion Family and Business Tax Cut Certainty Act of 2012 would extend more than $18 billion in energy-related tax incentives as well as other provisions such as the patch for the alternative minimum tax and the research and development tax credit. Though the negotiations are slow, many are hopeful that Congress will pass the measure as part of a fiscal cliff avoidance package, but the commence construction clause may be returned to its original placed-in-service requirement, as the … [Read more...] about Energy & Environmental Law Update – December 16, 2012