What do Mickey Mantle, George Costanza, and the Real Estate market have in common?
Answer: the number 7.
Baseball player Mickey Mantle’s number was 7. If George Costanza ever had a kid, he wanted to name it Seven. And the current Real Estate market is the 7th most affordable housing market in the history of our nation.
Thanks to the ridiculously low interest rates for mortgages that we’re experiencing right now, buying a home is as affordable as ever.
Regardless of the rising prices of homes in New Jersey so far in 2020, it is still an incredible time to make a purchase. How is that? One word: affordability.
How can it be that with increased home prices that houses are still affordable? The answer has to do with interest rates. With the low low rates going on right now, it gives the buyers tons of purchasing power.
In order to decipher everything and lay out what it all means to you, I hopped on a quick video call with lender Manny Rizzuto, a Mortgage Consultant at NJ Lenders Corp. The video is very informative, and if you have any further questions for him, he can be reached by phone 908-334-7182 or email mrizzuto@njlenders.com.
Let’s turn your 2020 luck around and take advantage of this #7 to make it your luckiest year ever by getting into your next dream home!
Some additional resources that might help are this article that goes more deeply into how low rates increase your buying power. Click here for a mortgage calculator that you can use to put together your own specific numbers.