Wednesday, February 25, 2009

Mortgage Rates



Mortgage Rates Fall Again for Homes NJ for Sale

A slow economy sees mortgage rates fall again this week. In an effort to stimulate the economy, the fed cut rates again, praying the the market would have some rection to it.Recent economic reprts have all pointed to a continually slowing economy for some time. The rates for homes new jersey for sale fell in accordance with the yield on bonds.
Consumer confidence and sentiment is the lowest it has been since 1980. Production and manufacturing of goods has also slowed way down in recent months. Economic contraction, not expansion, is the name of the game right now. Construction on homes nj for sale is not doing any better either.
New construction homes fell to an all-time low record of 466,000 homes (annualized) in January. This is since the year 1959! Builder expectations of sales also fell to the lowest they have been since 1985. All of these things put together, all contribute to the lowering of ratesw in some capacity.
Realtors who control the movement of homes in NJ for sale are felling it terribly right now. Many experts believe that only the top 10%-15% of realty agents in North America, will outlast this crisis in the housing market.

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