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Refinance

Performance Property Real Estate Question

How Low Will Interest Rates Go In 2024

Q: I want to refinance my home mortgage. Mortgage rates have finally been falling. How low do you think interest rates will go this year? Corey, Parsippany, NJ A: The 2 main drivers of mortgage interest rates are 1) current economic conditions like current inflation and the federal funds rate and 2) a borrower’s personal financial profile. A borrower’s personal financial position has a huge impact on the mortgage interest rate they’ll pay on a mortgage which is why everyone that refinances an existing mortgage or buys a home with mortgage financing at the same time will not get the same interest rate. The Fed raised the federal funds rate 11 times between March 2022 and July 2023 to combat […]

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Real Estate Insight

Owners Of Many Office Properties Are Struggling To Find Buyers

Owners of many office properties are struggling to find buyers due to high interest rates, and declining occupancy & cash flow.

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Real Estate Insight

Hard-To-Refinance Multi-Family Debt Is Coming Due

Many hard-to-refinance multi-family debt is coming due in October and November of this year.

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Performance Property Real Estate Question

Is Now The Best Time To Refinance Your Mortgage

Q: Gerald, mortgage rates are low but I don’t want to miss out on the lowest rates possible. Is now the best time to refinance my mortgage? Gary, Weehawken, NJ A: If your mortgage has a higher interest rate compared to the mortgage rate you can get now given your credit score and income, then refinancing could be a smart financial move.  The truth is that everyone’s personal financial situation is different so it’s best to make decisions based on your personal situation not based on generic advice.  Historically, the rule of thumb is that refinancing is a good idea if you can reduce your interest rate by at least 2%, however, many lenders say a 1% savings is enough […]

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