Has the real estate market in New Jersey hit the bottom? It might be irrelevant. Prices certainly seemed to have stabilized and are even on an upward trend in parts of New Jersey. However, one thing that is almost certain is that mortgage interest rates hit their low during the summer of 2010 and have been headed up since then. Most economists agree that mortgage rates are likely to increase in the near future. Even if home prices do fall further, the higher mortgage interest rates can increase your payments significantly more than if you buy a more expensive home today at lower interest rates. Visit my website at www.RealCentralNJ.com for more real estate videos, Central New Jersey homes for sale and more.
