Here are 3 views of mortgage interest rates:
Rates are Still Great! Looking back over 20 years, from the stagflation of the ‘70s-‘80s. Mortgages were dear and unemployment was in the 7s. Homes still sold! Isn’t this an encouraging view? We were thrilled to buy our first home in 1990 with a 10% mortgage rate, and then felt like a financial genius refinancing at 7.5% five years later!
It’s 2018-19 again. It was a very good year in real estate for sellers and buyers.
YIKES! in less than a year, rates have gone from hitherto unimaginable lows, to historically low. A shock to many new to real estate. We don’t expect rates, prices or supply to adjust for the better soon, so there isn’t a reason in the world for buyers to delay their plans.
Curious about your home’s value?
Please click below for the market update of interest to you:
Westfield by Grade School:
Scott Gleason scott@luxuryhomesnj.com
Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes