The Latest Predictions From Freddie Mac

Freddie Mac has come out with its top predicted characteristics of the 2011 housing and mortgage markets. They are as follows:

With the expectations of the central bank to keep the federal funds rate at its current target range of 0 percent to 0.25 percent for potentially all of 2011, the likely result could be 30-year fixed-rate loans in Hoboken and elsewhere remaining below 5 percent throughout the year, and initial rates of 5/1 hybrid adjustable-rate mortgages likely remaining below 4 percent in 2011.

Hoboken housing prices are likely to begin a slow recovery during the second half of 2011.

With housing affordability at a high level, many first-time buyers will be leading the pack in 2011 and will be buying more in 2011 than in 2010.Refinancing will slow down with most eligible borrowers already refinanced. With fixed-rate loans slowly inching up, it will make it less likely for current homeowners to be refinancing. There will be a decline in delinquency rates.

For help in finding and closing on your perfect Hoboken home,contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, a progressive city  where they’re always coming up with new ways of making it a better place to live, Jersey City, Weehawken and Union City. Eddie can also be reached by phone at 201-344-2886.