Mortgage Capital PartnersMarch 12, 2014
IMPORTANT ECONOMIC AND RATE NEWS
Being a Real Estate Industry professional I get asked by almost everyone in my professional and personal circles what are the current Real Estate trends in New Jersey? Here are my thoughts on that subject. This basically brutal winter has taken a toll on the inventory that's available on the market. There can be reluctance for potential home sellers to list their properties for sale in rough weather conditions as most of them don't want slush and mud tracked through their homes due to showings. The Purchase market, as most people know is typically slow December to mid- January as we progress through the Holiday season. We tend to see and uptick in activity after January and certainly post Super Bowl Sunday. This year however the weather has not cooperated causing a bit of a delay in the market activity. Those of us who are doing open houses can see on the few nice weather weekends we have had recently have brought out perspective buyers and as the snow thaws and stays away there should be an influx of properties coming on the market.Taking a look at pricing trends I can tell you with almost 100% certainty that we are seeing increases in value versus where we were a few years ago. I have had several opportunities over the last few months to refinance former clients where no options existed due to values a couple of years ago. This could be do temporarily to a limited supply of homes on the market artificially trending prices higher, however I tend to believe it is partly that coupled with normal appreciation.The Interest Rate front has also cooperated with the market as rates have retreated back to almost historical lows. The bottom line of all of these situations is the market is poised to break out big for this spring and it is absolutely a fabulous time to Purchase or Refinance a home.
THIS IS THE TIME TO GET ROLLING ON YOUR HOME LOAN!! IT'S STILL AN ABSOLUTELY GREAT TIME TO PURCHASE OR REFINANCE RIGHT NOW. TAKE A LOOK AT THE EYE OPENING EXAMPLE BELOW.
TODAY'S SPECIAL PRODUCT
15YR. FIXED RATE 3.250% 1 Point APR 3.468%
Please check out the refinance example below that compares your existing 30Yr. mortgage to today's 15Yr. Fixed Rate. Take advantage of a great 15Yr. rate TODAY!
Current 30Yr. $300,000 Loan balance @ 4.75% and a Monthly Payment of $1,565/ Mos. with 25 yrs left. Payments Remaining total $469,500
New 15Yr. Fixed Rate $300,000 @ 3.250% and a Monthly Payment of $2,108.01/ Mos. for 15 yrs. Payments Remaining total $379,441.
THAT'S A SAVINGS OF $90,058 IN INTEREST.
PURCHASE OR REFINANCE
30 Yr. Fixed Rate 4.250% APR 4.369%
20 Yr. Fixed Rate 4.125% APR 4.295%
15 Yr. Fixed Rate 3.250% APR 3.468%
5 Yr. Arm 2.875% APR 6.119%
7 Yr. Arm 3.250% APR 5.747%
30 Yr. Fixed Rate FHA 4.125% APR 4.167%
10/1 JUMBO ARM 3.875% APR 5.932%
(Loan amounts up to 3 Million available with LTV'S 80% to 1 Million and 75% to 1.5 Million, 70% to 3 million. Call for details)
All Rate quotes other than the special product and the FHA product are based on a 75% LTV, MIN Loan Amount of $250,000 and MAX Loan Amount of $417,000 rate and term or purchase and minimum credit score of 740. Fixed Rates above reflect an origination fee of 1%. The Special Product 10/1 Jumbo and FHA are based on 0 Point financing.
Mortgage Capital Associates is a licensed Mortgage Banker NJ Dept. of Banking and insurance.
REALTOR LISTINGS OF THE WEEK (REALTORS ASK ME ABOUT THIS FREE EMAIL MARKETING) CLICK HERE FOR PROPERTY AND CONTACT INFO. Beautiful Chapel Hill Section of Middletown Majestically situated on over 3 acres down a long driveway this magnificent Country Manor Home is found. Exquisite in detail, a gathering place for family and friends. This "Distinctive Pools" by Korbiak is a natural stone pool and is both breathtaking and private . Lavish master suite with fireplace, tray ceilings, and amazing master bath. Window transoms & 11' ceilings in fam room and great room brilliantly bring the sun indoors. Far rear pond add to its charm. 10 min to NY Ferry
VISIT ME AT WWW.THEMONETTIGROUP.COM Frank Monetti
Mortgage Capital [email protected] 908-513-1202
Apply for your new Refinance Mortgage in the month of March and your property appraisal is on us. Please feel free to forward to a friend to take advantage of the same offer.
Offer Expires: 4/30/2014
Mortgage Capital Associates | 218 Schanck Rd. | Freehold | NJ | 07728