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Has the real estate market in New Jersey hit the bottom? It might be irrelevant. Prices certainly seemed to have stabilized and are even on an upward trend in parts of New Jersey. However, one thing that is almost certain is that mortgage interest rates hit their low during the Fall of 2010 and have been headed up since then. Most economists agree that mortgage rates are likely to increase in the near future. Even if home prices do fall further, the higher mortgage interest rates can increase your payments significantly more than if you buy a more expensive home today at lower interest rates. Take a look at this video for a complete explanation on how you might be making a mistake if you wait for the market to hit bottom before you buy a home.
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Tags: hamilton new jersey homes, homes for sale in south brunswick, Interest rate, Mortgage loan, Mortgages, New Jersey, princeton homes for sale, Real estate, Real estate pricing
Posted In buying a home
This entry was posted on Wednesday, December 21st, 2011 at 12:47 pm and is filed under buying a home. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.