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The massive program that is focused on purchasing of Mortgage backed securities is coming to a close.  What does this mean, well unfortunately it means that home loan rates are likely to be on the rise in the short term.

The program is set to end by March 1^st, but the amount of securities already being purchased has dwindled significantly already.  What’s left of the FED’s funds appear to be rationed.

Last week the Fed purchased Mortgage Backed Securities totaling $11 billion, leaving the remaining funds of $66 billion out of the original $1.25 trillion set aside for the program.  That means 95% of the original allotment has already been spent which represents around 3 out of every 4 loans from last year.

The fear is now with such a massive buyer leaving the market that the costs associated with home loans are going rise.

The Fed’s ability to buy these securities and keep rates low is now coming to an end. Those who are in a position and who are currently looking to purchase a home now should not wait unless of course, they don’t mind paying more in the future than they are now for a loan on a new home.

David Wrenn

Halliburton Homes

t. 201.420.7766

e. dwrenn@halliburtonhomes.com

w. www.crystalpointagent.com

w. www.thewrennreport.wordpress.com

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         The Wrenn Report: South Pointe condos on first street

The South Pointe condos are a brand new construction boutique community located at 662 First Street, Hoboken, NJ 07030.  This building is an easy walk to the light rail and has a corner placement allowing for a greater number of windows and light within the homes.  South Pointe is a rebuilt, rehabbed, and remodeled historic tire shop that was in operation for over 30 years.

The South Pointe condos are all 3 bedroom residences which include one parking spot with every purchase.

Homes sizes range from 1780–1795 Sq. Ft.

      South Pointe condos include the following in each home…..

• Three full-size bedrooms
• Two full bathrooms
• High ceilings
• Laundry room
• Large living room/dining room
• Walk-in closets
• Large windows

      South Pointe condos kitchens include…..

• Espresso finish, Shaker-style maple cabinetry
• Caesarstone® quartz countertops
• GE Café Series™ stainless steel appliances
• Stainless steel under-mounted sink with Kohler Forte® pullout spray faucet in polished chrome
• Recessed lighting

South Pointe condos Master Baths include…..

• Single vanity
• Mirabelle fixtures in polished chrome
• Glass-enclosed shower with glass mosaic tiles
• Limestone flooring in champagne
• Single-handle vessel faucets

South Pointe condos additional features…..

• Laundry room with full-size GE Profile™ Energy Star®washer and dryer
• Central heat and air
• Continuous hot water heater
• Elevator building
• One parking space included with every home
• Large Energy Star® rated bay windows
• Solid-core birch doors

The South Pointe condos start in price in the upper $600k range.

To view the floor plans please follow the link below… http://southpointehoboken.com/availability.php

For more and up to date information please call the sales office at 201.575.5658

Pros: Close to Light Rail, big windows, parking spot included, pricing, size for price

Cons: A little far, but walkable to the Path train

Written by

David Wrenn

Halliburton Homes

t. 201.420.7766

e. dwrenn@halliburtonhomes.com

w. www.crystalpointagent.com

Comments(0)