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Now is the Time to Purchase Your Dream NYC Home!

As mortgage rates begin to rise, your NYC Mortgage Company will make your home buying process a breeze! There is no better time than now for First-Time Home Buyers to purchase your dream NYC home or apartment. Contact your NYC Mortgage company for more information about the mortgage process.

Source: Bloomberg.com

Mortgage rates in the U.S. jumped to a two-year high, increasing borrowing costs for homebuyers as sales accelerate.
The average rate for a 30-year fixed mortgage rose to 4.58 percent this week from 4.4 percent, Freddie Mac said in a statement today. The average 15-year rate climbed to 3.6 percent from 3.44 percent, the McLean, Virginia-based mortgage-finance company said. Both were the highest since July 2011.

Homebuyers are rushing to take advantage of historically low borrowing costs before they increase any more. Existing-home sales in July jumped 6.5 percent to the second-highest level in six years, the National Association of Realtors reported yesterday. Those transactions largely reflect closings of contracts signed a month or two earlier, when mortgage rates were just beginning to edge up.

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