Why a 30-Year Mortgage May Be Better Than a 15-Year Mortgage (And How It Could Save You Money)
When it comes to choosing between a 15-year mortgage and a 30-year mortgage, many people automatically assume that the shorter-term option is always better. After all, a 15-year mortgage typically comes with a lower interest rate and helps you pay off your home faster. But here’s something you might not know: A 30-year mortgage can […]
2024 Market Trends & What to Expect in 2025: A Somerset County Real Estate Update
The State of the Market: Low Inventory and Steady Buyer Demand As we close out 2024, low inventory continues to be a key challenge in our real estate market. Fewer homes are being listed, and those that are available are seeing steady buyer demand. However, the number of offers per property has decreased slightly, which […]
Mortgage Rates Are Dropping—What Does It Mean for You?
The latest mortgage update from Freddie Mac is in! As of November 14, 2024, the 30-year fixed-rate mortgage averaged 6.78%, just slightly lower than the previous week at 6.79%. But the real story is when you compare it to last year, where rates were as high as 7.44%. This marks a significant improvement in affordability […]