When interest rates climbed up and up in 2023, many buyers decided to wait for rates to come back down again. When they kissed the 8% mark, buyers really tightened their reins. However, was that really the best idea? Not necessarily. With the new year (and a recent announcement by the Fed of as many […]
Which Down Payment Strategy is Right for You?
You’ve most likely heard financial experts suggest that you save for a 20% down payment before you buy a Jersey Shore home. The logic behind saving 20% is solid. It shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders. (As […]
Jersey Shore Home Buyers: Buy Now or Wait Til Spring?
Earlier this week, the Federal Reserve raised the Federal Funds rate by one-half of a percentage point. That puts the current rate between 4.25% and 4.5%. Now, the Fed’s rate does not directly correspond to mortgage rates. As of the writing of this post, Freddie Mac shows interest rates for a 30-year, fixed-rate mortgage at […]