A Good Sign For The Housing Market

According to American Bankers Association, consumer loan delinquency rates have dropped for the third quarter in a row.

According to ABA chief economist James Chessen, this is good news for the housing market. “This is the first inkling that stability is taking hold in the housing market but the pace of recovery will be long and drawn out.’’

Home equity loan delinquencies fell for the first time in two years, from 4.32 percent to 4.12 percent in the previous quarter, and home equity lines of credit delinquencies fell nearly a quarter of a percent. Property improvement loans fell to 1.40 percent, down from 1.63 percent.

It is obvious that people are borrowing less, saving more and building wealth. Stop waiting, now is the time to purchase that new home.

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. 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 also be reached by phone at 201-344-2886.

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