New York and New Jersey Real Estate with Mona Nasan

Why Economists Expect Rates to Come Down

Home borrowing costs have inched lower towards the end of June, hitting their lowest level in almost three months, but mortgage rates have been on a roller coaster for the past few years. The 30-year fixed rate mortgage was 2.65% in early January 2021, then it hit nearly 8% in November of 2023 and is currently around 6.84%.

“The 30-year fixed-rate mortgage continues to trend down, hitting the lowest level in almost three months,” said Sam Khater, Freddie Mac's Chief Economist. “By historical standards, the economy is in good shape, and we expect rates to continue to come down over the summer months, bringing additional homebuyers back into the market.”

That's a great quote but there are headwinds for the housing sector and borrowing costs. Just recently, Fed Chair Powell said that the recent inflation report showed that pressures were easing but that could be the low point for the year. The Treasury continues to offer unusually large amounts of bonds and notes and the added supply could cap any gains therefore it could be tough to see lower interest rates.

Regarding inventories and prices, trade-up buyers are almost nonexistent as homeowners are reluctant to give up their low rates in exchange for a higher rate on a trade-up home. Strong demand and tight supply are expected to push home prices up, potentially leading to further increased home prices in both 2024 and 2025.

Looking ahead, expect mortgage rates to hover above 6.5% through the end of the year, which compared to the rates as high as 7.8% witnessed last year is a positive development and could offer some respite for potential homebuyers.

Bottom line: Despite rates staying somewhat elevated, always remember that jobs buy homes and if you are secure in your current position you could be on your way to homeownership.

Mortgage rates are getting lower and will continue in the low 6%. Listing price is softer due to market shifts are underway. House market is cooling down, more listings are coming to the market. More buyers are coming to the market too to absorb the listing due to the mortgage affordability.

My son, Everest, has been accepted and committed to Johnson & Wales University. I am so proud of him 🤎

Exciting news! Check out my eBay store for a wide selection of both used and new Apple products. From iPhones and iPads to MacBooks and Apple Watches, we have everything you need to enhance your Apple experience. Shop now and find great deals on high-quality Apple products that are sure to impress. Don’t miss out on these amazing items - visit my eBay store today! www.PayLessMo.com

Exciting news! Check out my eBay store for a wide selection of both used and new Apple products. From iPhones and iPads to MacBooks and Apple Watches, we have everything you need to enhance your Apple experience. Shop now and find great deals on high-quality Apple products that are sure to impress. Don't miss out on these amazing items - visit my eBay store today!

http://paylessmo.com

PLEASE USE MY LINK to SHOP AMAZON 🙏🌸🩷🥰✅💕🤎❤️😘😍😇😎🥰🥳https://amzn.to/3UGVh9a

Night out with my Bestie 💕

Hello sunny Vegas

Mistakes are not a sign of failure, but rather a stepping stone towards growth and improvement. Embrace your mistakes as valuable lessons that can propel you forward in your journey towards success. It’s okay to stumble and fall, as long as you pick yourself up and keep moving forward. Remember, every mistake is an opportunity to learn, grow, and become a better version of yourself. So don’t be afraid to make mistakes, because they will only make you stronger in the end. Embrace them, learn from them, and use them as inspiration to keep pushing yourself towards your goals.

I want to express my gratitude to each of you for attending my very first Zoom meeting as a Life Producer. It was truly impressive to have such a gathering of intelligent and sophisticated individuals in attendance.

TO EVERYONE WHO TOLD ME YOU WANTED TO BUY OR SELL A HOUSE
"NEXT YEAR"
TODAY'S THAT DAY !

Happy Thanksgiving. My boys ❤️❤️ Mongolian way... . 💙❤️

123 E Harwood Ter 1FL
Palisades Park, NJ 07650
Rent $2900
1 1/2 months security deposit
One month broker fee
ALL UTILITIES INCLUDED IN THE RENT (HEAT, GAS AND ELECTRICITY) 3 BEDROOM, 2 FULL BATH 1ST FL APARTMENT IN TWO FAMILY. LOCATED IN A RESIDENTIAL AREA ON A QUIET STREET OF PALISADES PARK, THIS SPACIOUS APT HAS BEEN FRESHLY PAINTED AND BATHROOMS UPDATED. ONE ATTACHED GARAGE(WITH ELECTRIC GARAGE DOOR OPENER) AND A DRIVEWAY SPOT INCLUDED IN THE RENT. LANDLORD TAKES CARE OF THE LAWN MAINTENANCE. EASY ACCESS TO THE GARAGE AND LAUNDRY ROOM FROM STAIRS TO THE BASEMENT. PRIVATE WASHER AND DRYER PROVIDED! WALKING DISTANCE TO BROAD AVE AND CLOSE TO SHOPS, RESTAURANTS, SCHOOLS, PARKS AND NYC TRANSPORTATION. NO SMOKING AND NO PET
Facebook Marketplace Community

Realtor’s night

My Boy Emerson❤️

My Boy Everest❤️

The client will be right at home with these great Jumbo rates. Citi bank rate
Rate will go up

Exponential Potential! in Middlesex County, New Jersey - BizBuySell Middlesex County, NJ:Well-established coffee shops in strategic locality, one is in Iselin by the lobby of a luxury apartment complex, surrounded by corporate buildings, and minutes to Metro Park Train Station; the second one is in beautiful downtown Cranford, with a private parking lot and favorabl...

Chilling

Long time no selfie

Wine & TV is the way to go...