The Latest Predictions From Freddie Mac

Freddie Mac has come out with its top predicted characteristics of the 2011 housing and mortgage markets. They are as follows:

With the expectations of the central bank to keep the federal funds rate at its current target range of 0 percent to 0.25 percent for potentially all of 2011, the likely result could be 30-year fixed-rate loans in Hoboken and elsewhere remaining below 5 percent throughout the year, and initial rates of 5/1 hybrid adjustable-rate mortgages likely remaining below 4 percent in 2011.

Hoboken housing prices are likely to begin a slow recovery during the second half of 2011.

With housing affordability at a high level, many first-time buyers will be leading the pack in 2011 and will be buying more in 2011 than in 2010. Refinancing will slow down with most eligible borrowers already refinanced. With fixed-rate loans slowly inching up, it will make it less likely for current homeowners to be refinancing. There will be a decline in delinquency rates.

For help in finding and closing on your perfect Hoboken home,contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, a progressive city  where they’re always coming up with new ways of making it a better place to live, Jersey City, Weehawken and Union City. Eddie can also be reached by phone at 201-344-2886.

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Explore posts in the same categories: Hoboken Homes, Live in Hoboken

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