Interest Rates Still Remain Low

There still is a clear path to home ownership with the current low interest rates. If you have been on the fence regarding purchasing a Hoboken home, now is the time to do it while the rates still remain low. There are many properties on the Hoboken market to choose from so allow me to be your guide.

During the week ending May 27, 2010, the interest rate on a 30-year fixed-rate mortgage averaged just 4.78 percent. A year ago, the average was 4.91 percent.

The compilation of these rates are from a weekly survey of lenders by Freddie Mac.

Average rates on 15-year fixed-rate mortgages and adjustable-rate mortgages (ARMs) remain low. The 15-year fixed-rate mortgage averaged 4.21 percent, a record low since Freddie Mac started tracking this rate in August 1991, with an average 0.7 point. The average rate on the five-year Treasury-indexed hybrid ARM averaged 3.97 percent, also with an average 0.7 point.

Frank Nothaft Freddie Mac Chief Economist, has stated that, “the low interest rates would help to elevate home-buyer affordability and soften the effects of the sunset of the home-buyer tax credit.”

For more great reasons to buy a home in 2010, please click on The Best Time to Buy a Home is Now!

If you have been patiently waiting to buy a Hoboken home, now is the time to do it. All of the key factors are in place to ensure that your home purchase will be a major, positive life changing event.  With low mortgage rates available, this is the opportunity you have been waiting for.  Make 2010 the year you purchase your dream home. For more information contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey City, Weehawken and Union City.  Eddie can be reached at mailto:eddie@InvestHoboken.comor 201-344-2886.

Explore posts in the same categories: Financing/ Interest Rates, Hoboken Homes

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