This Week In Hoboken Real Estate: Oct 25th – Nov 1st
Stop Right There.
I can’t beleive it. The market has turned to post Thanksgiving even with interest rates never seen before. Thanks to Mike Mundy from Pinnacle for the info below.
Four contracts this week. Four!!!! OMG.
REVISED October 31st, 2010—- 11:00 AM ET
Lock Period = 45 Days
CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)
30 YEAR FIXED —————————- 4.250%/ 4.264% APR
30 YEAR FIXED INTEREST ONLY— 5.125%/ 5.139% APR
15 YEAR FIXED—————————– 3.750%/ 3.883% APR
5 / 1 ARM————————————- 3.125%/ 3.005% APR
7/1 ARM ———————————— 3.375%/ 3.274% APR
* All quotes are with 0 points
*Investment Properties — ** Add 1.75 points (if 25% down)**
*There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV*
CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS (loans greater than $417,000, but less than $729,500)
30 YEAR FIXED ————————- 4.375%/ 4.389% APR
15 YEAR FIXED ————————- 3.875%/ 3.935% APR
** Loan amount restrictions based on county and property type. Cash-out refinances over 60% LTV not allowed.
***There is a rate increase for condominiums over 75% LTV***
CONVENTIONAL JUMBO LOANS (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000 up to $1,000,000 loan amount)
30 YEAR FIXED————————— 5.000%/ 5.028% APR
30 YEAR FIXED INTEREST ONLY– 5.375%/ 5.391% APR
15 YEAR FIXED————————— 4.250%/ 4.264% APR
5 / 1 ARM————————————- 3.875%/ 3.561%APR
7/1 ARM ————————————– 4.125%/ 3.811% APR
** All non-conforming loans need to be discussed in detail
** ARM rates on jumbo products could be lower with a 25% down payment or more
** There may be a rate add-on for condominiums and multi-family homes
*** Special Program 15/ 30 ARM —–4.500% / 4.698% APR — .50% Points — Loans up to $1,000,000!!!
**Please call for rates on loans over $1 million or rates on FHA loans**
A new format for This Week In Hoboken Real Estate Reports. I am going to give everyone the highlights here but as to not bore the rest of you, anyone who wants the free breakdowns can sign up to get the weekly reports emailed directly to them. I am sure I will be killing the traffic to my site…so tell a friend to read me.
This week is not a surprise to anyone reading my Q3 Hoboken Real Estate Report. The market is slowing. Another week with only 12 contracts. Active Hoboken condos has dropped to under 500….Almost and identically blah week to last week except that price changes are back in the 40s..
THE NEW REAL ESTATE MOBILE APP IS HERE! (crappy picture courtesy remax marketing department…but the app works!)
Search those listings from your phone.
Search all MLS listings and view prices, square footage, taxes, features, maps, pictures and more! The “Call” feature will connect you to me if you have questions. Standing in front of a home and want more information? The GPS feature will take you right to the listing information you want.
My real estate app works on standard cell phones and smart phones and is FREE! Just text HUDSON1 to 87778 for your free download.
This Week In Hoboken Real Estate: Oct 25- Nov 1