Sunday, September 27, 2009

Mortgage Rates Hold Steady

The average rate on 30-year, fixed mortgages held at 5.04 percent for the week ended Sept. 24—down from 6.09 percent a year ago, according to Freddie Mac.

Interest on 30-year, fixed loans has declined in the past three weeks, according to Freddie Mac chief economist Frank Nothaft, and the Mortgage Bankers Association reported a 13 percent increase in application volume last week.

Other rates performed as follows:

15-year fixed loans dipped for the week from 4.47 percent to 4.46 percent.
Five-year hybrid adjustable-rate mortgages were flat at 4.51 percent.
One-year ARMs fell from 4.58 percent to 4.52 percent.

Friday, September 11, 2009

Weekly Hoboken Real Estate Market Statistics

Here is a preview of the kind of statistics we will be posting each week. We are getting the format and presentation down. We have divided hoboken into 4 quadrants - NE, NW, SE and SW and show how price per square foot changes by neighborhood. We are also looking at a number of amenity combinations, elevator, no elevator, parking no parking, pool, gym, etc. So, please stayed tuned as more is coming. . . . .

The topline looks like the 'bottom is hardening'. The number of units for sale is down, fewer price reductions, fewer new listings. Maybe we can believe the news that we are starting to see the end of the recession? Let's hope these trends continue.

* 482 active Hoboken condo units today - 513 last week.
* 18 price reductions vs. 14 a week ago
* 12 dabos (under contract) vs. 13 last week
* 20 sold vs. 17 last week.
* 14 new listings vs. 21 last week
* 14 expired listings vs. 9 last week
* none withdrawn vs. none last week