New York City Real Estate | NYC, NYNew York City Real Estate | NYC, NYNew York City Real Estate | NYC, NYNew York City Real Estate | NYC, NY
  • ABOUT
    • ABOUT SCOTT
    • ABOUT THE TEAM
    • PRESS
  • BUYERS
  • SELLERS
  • VIDEOS
  • LISTINGS
  • JOIN OUR TEAM
  • BLOG
  • CONTACT
  • CALL SCOTT NOW

Mortgage Rates now and in a few years

    Home Uncategorized Mortgage Rates now and in a few years
    NextPrevious

    Mortgage Rates now and in a few years

    By admin | Uncategorized | Comments are Closed | November 16, 2010 | 0

    Rates are low now. Unless you have been under a rock, I don’t need to tell you that. With QE2, of course there’s the expectation that they would be going down again. I do not have a crystal ball, but clearly the confidence level in the government’s economic policy is uneven.
    That said, I could know you for the next 50 years (and I hope that I do!) and we may never see rates here again. Frankly, many feel that rates are too low. As a realtor, mortgage rates are the most powerful leverage to my buyers’ purchasing power. And really, the ideal situation to get the best deal would be to pay in cash, then roll into a mortgage.
    Let’s say, however, that you find a great purchase and a great mortgage rate? How can you leverage this even further? First, you should confirm with your lender before you take your mortgage (this only applies to condominiums or homes) that you have the right to assign the mortgage. In New York State, this will save up to 1.925% of the mortgage amount for the purchaser of your property. That’s a value add.
    Let’s take another step, though- Ask your lender if they will transfer the mortgage at the RATE which you have your mortgage. This won’t always work, but depending on your relationship with the private bank, or institution, imagine being able to offer a portion of a mortgage at a rate of 4% if rates have gone up to 6%, 7% or higher? Good luck and keep me posted!

    No tags.

    NextPrevious

    Recent Blog Posts

    • (VIDEO) Celebrating 150 Years In Residential Real Estate- And my 20th Anniversary, too. January 31, 2023
    • How to Make An Extra $1mm on the Sale of Your Townhouse January 30, 2023
    • What’s Going To Happen To All The Office Space In NYC? January 30, 2023
    • NYC, Manhattan, and The US: A Reversion To The Mean January 30, 2023
    • The Best Lead Measure in The NYC Housing Market Right Now January 30, 2023
    • How To Think About Mortgage Rates Right Now January 30, 2023
    • Are You In, or Are You Out Of New York City? The End Of Ambivalence. December 22, 2022
    • Mortgage Math- How To Spend LESS on Your Mortgage Right Now – What No One Is Telling You December 22, 2022
    • Selling To An Insider Could Cost You $150,000 December 22, 2022
    • The Unintended Consequences Of Higher Loan Limits on “Conforming Loans” November 30, 2022

    Archives

    Call us: (646) 400-0769
    Email us: sharris@bhsusa.com
    Visit us: Brown Harris Stevens
    1926 Broadway
    New York NY 10023

    © 2023 The Harris Residential Team. All rights reserved.
    • About Scott Harris
    • About the Team
    • Press
    • Buyers
    • Sellers
    • Videos
    • Listings
    • Blog
    • Contact
    • Call Scott Now
    • Brown Harris Stevens Fair Housing Policy
    • ABOUT
      • ABOUT SCOTT
      • ABOUT THE TEAM
      • PRESS
    • BUYERS
    • SELLERS
    • VIDEOS
    • LISTINGS
    • JOIN OUR TEAM
    • BLOG
    • CONTACT
    • CALL SCOTT NOW
    New York City Real Estate | NYC, NY