Mortgage rates hit their lowest levels in nearly two weeks. Conventional 30-year fixed quotes for the most ideal scenarios are back down around 4.5 percent for some lenders and remain at 4.625 percent for many others. The staff at Orange Key Realty is seeing families moving out of their townhomes and condos into the homes they have dreamed of. The opportunity is finally on their proverbial door step. The lower costs can mean the quality of life this country was built on. They are also seeing firsttime buys taking that leap of faith and joining the real estate “dance.” Baby boomers are moving into smaller properties to fit their new, easy lifestyles. The lovely neighborhoods they moved into more than 30 years ago are now experiencing a revival, with new buyers coming in and making these homes their own for their growing families.
Mortgage rates aren’t directly tied to U.S. Treasuries, but rather to MBS (Mortgage Backed Securities). These tend to move in a generally similar pace and direction as Treasuries, meaning the two are fairly well interchangeable most of the time, if you’re just looking for an idea of how much rates have moved. During these moments where markets are reacting to global headlines, Treasuries tend to get the most benefit, though MBS certainly improved as well.
This fall is being looked upon as a fantastic opportunity to move forward and purchase that long sought-after property. Sellers who have been very prudent about putting their homes on the market are now seeing how advantageous it will be to get the best value from the qualified buyers anxious to purchase. They, too, will move on to either downsize or increase, typically, the biggest investment of their lives.
Orange Key brokers/owners, Ofir Hillel and Michael Matthews, have always positioned Orange Key Realty to partner with the surrounding communities and valued customers. Using practicality and creativity, coupled with years of experience, they and their team of sales professionals continue to stay in the real estate trenches and understand how this firsthand knowledge is critical to all their customers’ transactions.
Orange Key Realty’s staff of sales and broker associates can be reached at either: 863 Georges Road, Monmouth Junction, (732-297-6969), serving Middlesex County, and 60 E. Main St., Freehold (732-863-6969), serving Monmouth County. Visit www.orangekeyrealty.