Mindblown: a blog about philosophy.
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Impact of Cooling Inflation on Homebuyers
Falling Inflation Rate: Inflation fell from 3.5% in March to 3.3% in May. Impact on Mortgage Rates: Lower inflation could lead to falling mortgage rates.
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2026 Rate Cut Prediction: Down to 1.75%-2%
Analysts predict rate cuts, potentially down to 1.75%-2% by end of 2026. Expected economic conditions in 2024: Cooling inflation and slight increase in unemployment.
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North Jersey: The Third Most Competitive Rental Market
High Competition: 13 renters vie for each vacant apartment in North Jersey. Top Ranking: Ranked third most competitive in the U.S., following Miami-Dade and Suburban Chicago.
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2 Years Forecast: Will Rates Rise or Fall?
High inflation puts a strain on household budgets, so the Fed uses rate hikes to slow down spending and cool the economy.Recent data suggests inflation might be easing, prompting the Fed to consider lowering rates later in 2024.
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NJ Towns Among Hottest 2024 Housing Markets
New Jersey towns are ranked among the top 150 hottest Real Estate markets nationwide in 2024. Compare median listing prices: Number 51: Hazlet: $551K
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Are Mortgage Rates Headed for 10% in 3 Years?
A New York Fed survey suggests a possible rise in mortgage rates, with consumers expecting a reach of 10% in three years. This shift in sentiment could lead to decreased demand in the housing market, impacting prices and affordability. The Federal Reserve's actions will play a key role in these predictions. It's recommended to stay…
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Strong Demand: NJ Homes Sell Fast
NJ ranks 5th in the nation for fastest-selling homes. Homes in NJ sold in 28 days on avg.
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Single in NJ? Budget Stretching Required!
Despite its attractions, New Jersey is one of the most expensive places to live in the country. NJ ranks among the most expensive states for singles, significantly impacting their cost of living.
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Pros and Cons of Loans With Zero Down
You can skip the wait time required to save for a down payment and become a homeowner sooner. You'll face higher monthly payments and interest rates due to the lack of a down payment.
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Creative Ways Homebuyers Are Paying Lower Mortgage Rates
Consider an assumable mortgage to pay a lower rate by taking over the seller's existing mortgage. Loans from FHA, VA, and USDA are eligible, but most conventional loans are not due to a "due on sale" clause. Borrower must cover existing equity. Other options include paying more down, improving credit score, or opting for a…
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