Do you ever see those blue light speciasl in supermarkets? You know, the "act now" ones that try to compel you to buy RIGHT NOW? I certainly have. Same holds true for the mortgage market. Interest rates are as low as they been since Freddie Mac started tracking them, refinancing applications are soaring and homes nj for sale are starting to move faster.
Freddie Mac on Christmas Eve, said the 30-year fixed-rate mortgage (FRM) averaged 5.14 percent for the week ending Dec. 24, 2008. That's the lowest the rate has been since Freddie Mac started the Primary Mortgage Market Survey in 1971. this is good news, at least for now, for potential home buyers.
With home prices in a low rut, with all the money you've been saving on reduced spending and gasoline conservation, with all those motivated sellers out there twisting in the frigid wind? Now is a great opportunity to buy homes in New Jersey for sale. It's a good time to consider refinancing your mortgage and it's a good time to be thinking "Buy A Home -- Now!"
The average rates are so low, refinancing can benefit even those who purchased a home a year or two ago, even if they had a small equity stake in their home and used an ARM to buy. They may even go lower IF we get a few bad stock market days ahead of us.
homes nj for sale
About the Author
NJ mortgage broker.
Wednesday, March 4, 2009
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