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Morristown NJ Home Buyers, How Much Home Can You Afford Now??

photo James Boyer

Morristown NJ Home Buyers, Did you know, the Federal Reserve has cut the interest rate they charge banks 1.25% over the past few weeks? This could have a huge effect on the home you can now afford to purchase in Morristown NJ or other surrounding towns.

Have you talked with your mortgage person lately?   With every 1% mortgage interest rate reduction the typical mortgage payment drops 9%. This can make a huge difference in the home you can afford. For example, if you thought that the highest home price you could afford was $600,000 you could move that number up to $654,000 with a 1% mortgage interest rate cut, and still have approximately the same mortgage payment.  I have a feeling that interest rates are not going to be staying down at these levels for… Read Full Post

Posted: 1 year ago, Comments: 0, Average Rating: Views: 799

About James Boyer

photo James Boyer

James Boyer, Morristown Real Estate   I am a REALTOR with Keller Williams Realty, We are a full service Morristown Real Estate company serving Morristown and the surrounding cities of Morris Township, Madison, Chatham, Florham Park, Summit, Short Hills, Millburn, Springfield, Maplewood, South Orange and surrounding areas.  James Boyer and family are residents of Morris Townships Convent Station section.   James Boyer strives to stay abreast of current market conditions and real estate trends focusing primarily on the area of Morris County and the cities of Morristown, Morris Township, Madison, Chatham and Florham Park.  James Boyer is a member of the National Association of Realtors, and the New Jersey board of Realtors. When not practicing real… Read Full Post

Posted: 2 years ago, Comments: 1, Average Rating: Views: 737
James Boyer

James Boyer James Boyer, is a resident of Morris Township in Morris County New Jersey and Specializes in listing and selling homes in Morristown, Morris Township, Madison, Florham Park, Chatham, Summit, Short Hills, Millburn, Maplewood, & South Orange New Jersey and Morris Essex & Union County Real Estate. Read More

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