NJ First-Time Home Buyers

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Mortgage Rates to Be Thankful For

Mortgage Rates Drop  Female Red-Bellied Woodpecker
Finally, some good news for the mortgage industry! The Federal Reserve and Federal Home Loan Banks announced that they would purchase up to $600 billion in Mortgage-Backed Securities (MBS).  This has caused interest rates on 30-year fixed rates to drop below 6.00%.

If you have been on the fence about buying or refinancing a home, now is the time to act.

Is This A Recipe for Your Success?

  • Rates are very low and home prices in many areas are stable, at and around 2003 levels.
  • Reports from earlier this month showed an increase in pending sales in Gloucester County, NJ.  
  • Energy prices have dropped.
  • First-Time Home Buyers will receive a $7500 tax credit if they purchase a home right now.
  • 100% Financing available on many homes.
  • FHA minimum downpayments are going up .5% come January 1st

I think you'd be hard pressed to find a better time to buy.  Let me offer you some great tips on how to reduce your closing costs and get into a home for the lowest amount possible. 

IF REFINANCING <<< >>> Don't wait until next week. Rates can be (and have been lately) very volatile and this opportunity might not survive even a few days.  

Whether you are looking to buy or refinance, call me today. I'm here to help.  ~ Steve Kappre

Steve Kappre  -  Treasury Mortgage  -  856-419-3561  -  www.stevekappre.com

More information on:

Reverse Mortgages

100% Financing in Gloucester County

Comment balloon 1 commentStephen Kappre • November 26 2008 07:23AM

Comments

This is certainly great news... I was listening to CNBC this morning and I thought I heard another drop today.  One of our buyers that was on the fence already submitted an offer in the last 2 days.  We are in the process of trying to wrap it up.  It was the decrease in rates to get him off the fence.

Posted by Christopher and Stephanie Somers - Realtors - Philadelphia Real Estate (Realtor / Owner - RE/MAX Access) about 9 years ago

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