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W W W . C L I N T O N T W P N E W S L E T T E R . C O M
t h e k e y t o …
t i m i n g t h e m a r k e t
Whether you're a first-time homebuyer or considering a home upgrade,
understanding what's happening with mortgage rates can help you
make a smart decision about the timing of your home purchase.
You may have heard that mortgage rates have risen sharply since the start of the
year. This is important because when rates increase, your monthly costs
to carry a mortgage become more expensive.
Although it's difficult to know exactly where mortgage rates will go, a great
indicator is the history of the 10-year treasury yield. (That's the amount
the government pays investors who purchase a treasury bond which matures in
10 years.) Over the last 50 years, the connection between the 30-year fixed rate
mortgage and the treasury yield has been evident. However, it shouldn't be a
foolproof indicator, especially in the wake of a global pandemic.
Based on current and historic data, though, mortgage rates should continue to
rise over the next few years. If that's the case, your best bet may be to purchase a
home sooner rather than later. That's where I come in. As a local area expert,
I'm always available to discuss current market trends or provide you
with a FREE valuation of your current home. Call me to discuss further.
Jenifer Santoro – Weichert, Realtors – 908-293-7207
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