Mortgages, Remortgages and Home Loans

Mortgage Broker Joseph Soriano had just finished touring a five-bedroom home in Livingston Sunday afternoon. The house, which sold for $525,000 three years ago, was on the market for $740,000. "It's amazing," said Soriano, who owns a home in East Hanover. "I'm an attorney and can afford a lot of these. But I have a 3-year-old and I don't want to mortgage his future for a house that is inflated in price."

Loan amount (£) - - 5 Years 10 Years 15 Years 25 Years Debt Consolidation Remortgages Advice & online application for anyone wanting to clear debits & loans by remortgaging their home Mortgage Quotes Your total mortgage refinancing center. Compare UK remortgage, mortgage & loans we compare UK remortgage, mortgage and loan rates to find the best value for you. Compare UK mortgage rates online.

Mortgage Lead Welcome to New Jersey's gravity-defying housing market, where it is still getting more expensive by the minute to buy a house in just about every corner of the state.

Reverse Mortgage A survey of median sale prices during the second quarter of 2002 released yesterday by the National Association of Realtors reads like blood pressure charts for home buyers dealt a severe case of sticker shock:

Ceiling The maximum allowable interest rate of a variable rate mortgage Collateral Assets (such as your home) pledged as security for a home loan Commission Money paid to a real estate agent or broker for negotiating a real estate or loan transaction. Contract of Sale The agreement between the buyer and seller on the purchase price, terms, and conditions of a sale. Conveyance The document used to effect a transfer, such as a deed, or mortgage.

Mortgage Quote Bergen and Passaic counties, up 24.7 percent from the same period last year, with a median price of $338,800.

or over the life of the loan. Ceiling The maximum allowable interest rate of a variable rate mortgage Collateral Assets (such as your home) pledged as security for a home loan Commission Money paid to a real estate agent or broker for negotiating a real estate or loan transaction.

Florida Mortgage Monmouth and Ocean counties, up 21 percent, to $242,700.

California Mortgage Loan Middlesex, Somerset and Hunterdon counties, up 16.5 percent, to $278,200.

Florida Mortgage Loan Newark, Essex, Union and Morris counties, up 10.1 percent, to $289,700.

California Mortgage Overall, median prices in the New York/New Jersey market reached $303,800, 22.3 percent above last year.

Bad Credit Loan Mortgage Prefer to think of the increases in real dollars?

Commercial Mortgage Consider: The same "median" house that recently sold for $303,800 was going for $248,400 during the same period last year, and $203,200 in 1999.

Lowest Mortgage Rate "Wow," said David Schoner, Coldwell Banker's vice president of new homes. "There's good news and bad news, and it all depends on how much you make. It's great for people who already own a home and are experiencing rapid appreciation. If you don't own and you're renting, it's kind of tough to get started."

Gmac Mortgage The numbers also surprised some experts who expected things to cool off amid the massive layoffs and uncertainty on Wall Street.

Mortgage Payment Instead, prices just keep going up, fueled by historically low mortgage rates that have created fierce bidding wars and lifted the price-point for starter homes in some communities north of $350,000. The wild price moves have sparked talk of a housing bubble.

Mortgage Marketing James Hughes, dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University, said a bubble was unlikely for now because of the low rates and an adequate supply of housing.

Reverse Mortgage For Senior "For those who went through the cycle before, there is a desperate fear, a real fear, of being a peak-of-market buyer," Hughes said. "The question is, what will happen if the Federal Reserve is forced to raise interest rates?"

Mortgage Interest Rate Economists, builders and brokers are divided about the potential impact of higher rates. Some say sales would simply moderate. Others argue the bottom would fall out. They agree, however, that conditions mirror the last boom-bust cycle two decades ago.

2nd Mortgage Rate From 1980 to 1988, housing prices nationally rose 45 percent. In New Jersey, prices ballooned 145 percent and "people who owned their own homes made more money going to sleep at night than going to work," Hughes said.

Florida Refinance Mortgage In 1989, however, the bottom fell out, and Hughes said prices nose-dived and the mortgage market dried up. The market gradually recovered to boom-time levels three years ago, which marked the start of the current cycle.

Current Mortgage Rate Some housing experts argue the rally has staying power because circumstances are different than two decades ago.

Home Mortgage Rate New York City generates a steady supply of two-income families with children, well-heeled singles and new immigrants yearning for the green spaces and good school systems in suburban New Jersey.

Best Mortgage Rate Moving companies, brokers and social scientists said that new commuter rail routes into the city, such as NJ Transit's Midtown Direct, have made this side of Hudson River even more popular with New Yorkers.

Texas Mortgage Rate As Joe and Jun Coppola toured a three-bedroom house Sunday in Livingston (on the market for $338,900), they said they were candidates to "move up" to a bigger place. They are homeowners, but are re-entering the market with a bit of uneasiness.

2nd Mortgage "A lot of people got burned on the stock market or they bought a little over their heads," said Joe Coppola, an immigration lawyer. "We're cautious about how we spend money."

National City Mortgage Nationally, prices increased 7.4 percent to a median of $157,700. (The median price is the midpoint among all sales, with half the homes selling for more, and half for less.)

Florida Mortgage Lender New Jersey buyers could always consider bargain-hunting in Topeka, Kan., where the median home price is $83,800, the lowest in the country. The next lowest was Syracuse, at $84,700.

Texas Mortgage Refinance At the top of the price scale is San Francisco, where the median price reached $540,500. The statistical region defined as Bergen and Passaic was close behind.

Low Mortgage Rate By George E. Jordan
Star-Ledger - 8/14/2002

Topic: Sprawl

[ Comment, Edit or Article Submission ]