Finance

Mortgage rates tumbling: Time to buy or refinance

If you haven’t heard, mortgage rates are tumbling.  The average rate on the 30-year fixed has fallen to 3.94%, according to Mortgage News Daily. Not only has this spurred many to refinance, the falling rates are also benefiting buyers in Jersey City, especially as home prices are now cooling. Affordability is now the best it’s […]

Dwell JC | Jun 4, 2019

Mortgage Rates Fall to 12-month lows!

Although the 30-year fixed mortgage rate was expected to stay above 5 percent in 2019, it fell to a ten-month low of 4.46 percent during the last week of January. Now it has fallen even further to just 4.35%, a 12-month low, and is expected to stay low for the rest of this year. This […]

Dwell JC | Mar 4, 2019

First-time home buyers expand their options with help from Mom & Dad

In my last article, I shared information regarding how first-time home buyers were able to buy fixer-uppers with renovation mortgages offered by HUD and Fannie Mae.  But another first-time buyer I worked with this summer turned to Mom & Dad for the down-payment.  More and more parents are helping their grown kids become homeowners, which […]

Dwell JC | Dec 17, 2018

First-time home buyers shift to fixer-uppers in downtown Jersey City

Downtown Jersey City can be a tough place for first-time home buyers:  entry-level single-family homes that are move-in ready are non-existent.  Buyers are often not aware that they can get a renovation mortgage that combines the purchase price with the cost of improvements.  This summer I worked with two clients, one who was looking to […]

Dwell JC | Dec 12, 2018

Mortgage Rates Resume Upward Trend

This week mortgage rates resumed their upward trend, which is reported to be the most prolonged increase in 46 years.  According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average jumped to its second-highest level this year, rising to 4.62 percent with an average 0.4 point. It was 4.54 percent a […]

Dwell JC | Jun 15, 2018

Home Mortgage Rates Just Hit a 1-Year Low!

30-year home mortgage rates have dipped to 3.86 percent, which is its lowest level since last November.  According to AP, “concern over a slowdown in inflation has recently pushed bond prices higher — and some bond yields sharply lower. Record-low interest rates have helped spur home buying and boosted the housing market. Yet despite low […]

Dwell JC | Sep 11, 2017