Latest on Hoboken Mortgage Rates

Latest on Hoboken Mortgage Rates from the IHRE Mortgage Guy

REVISED July 15th,, 2011---11:00 AM ET
Lock Period = 30 Days

CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)

30 YEAR FIXED ---------------------------- 4.500%/ 4.591% APR

30 YEAR FIXED INTEREST ONLY--- 5.000%/ 5.093% APR

15 YEAR FIXED----------------------------- 3.750%/ 3.821% APR

5 / 1 ARM------------------------------------- 3.125%/ 3.009% APR

7/1 ARM ------------------------------------ 3.500%/ 3.314% APR

*All quotes are with 0 points
*Investment Properties --- ** Add 1.75 points (if 25% down)**
*There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV*



CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS (loans greater than $417,000, but less than $729,500)

30 YEAR FIXED ------------------------- 4.750%/ 4.796% APR

15 YEAR FIXED ------------------------- 4.000%/ 4.095% APR

** Loan amount restrictions based on county and property type. Cash-out refinances over 60% LTV not allowed.

***There is a rate increase for condominiums over 75% LTV***



CONVENTIONAL JUMBO LOANS (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000 up to $1,000,000 loan amount)

30 YEAR FIXED--------------------------- 5.000%/ 5.086% APR

30 YEAR FIXED INTEREST ONLY-- 5.250%/ 5.324% APR
15 YEAR FIXED--------------------------- 4.125%/ 4.236% APR
5 / 1 ARM----------------------------------- 3.500%/ 3.195%APR

7/1 ARM ------------------------------------ 3.875%/ 3.571% APR

** All non-conforming loans need to be discussed in detail

** ARM rates on jumbo products could be lower with a 25% down payment or more

** There may be a rate add-on for condominiums and multi-family homes



**Please call for rates on loans over $1 million or rates on FHA loans**



Total Fees Charged By Pinnacle Mortgage, Inc.


$395.00 -- Application Fee (Includes Appraisal, Lock-in, Credit, Flood & Processing)
$395.00 -- Commitment Fee (Wiring Funds, Attorney Review & Doc Preparation)



Michael Mundy

Senior Vice President, NMLS #208872

Pinnacle Mortgage, Inc.

www.mundymortgages.com

Top 5 Hoboken Real Estate Headlines in 1st Half 2011

Top 5 Hoboken Real Estate Headlines in the 1st Half of 2011

We have reached the midway point of the year. Today, I want to look back over the first six months and give you what I believe were the five items that have had the biggest impact on the Hoboken real estate market so far this year.

Low InventoryWith Hoboken condo inventories down some 30% from traditional levels, it has impacted the market in several ways. Lower days on market for sold properties is chief among them. Bidding wars and contracts for well priced condos is leaving stale inventory in the dust as Hoboken buyers, with limited choice, are acting fast.

Low Interest RatesHistorical lows in interest rates are having an impact on move up buyers. Three bedroom Hoboken condos are selling fast and furious as families with a long term plan are locking in for the long haul.

Short Sales StalledWhile the Hoboken real estate market is not as directly impacted by short sales and foreclosures as other markets, the bank moratorium on foreclosures and the subsequent delays in the short sale process has mitigated most impact that lower sale prices would have on existing sales.

Sales Are StrongThere were 321 Hoboken condos sold in the second half of 2010 as compared to 343 Hoboken condos sold in the first half of 2011. While the second half of 2010 was a low caused by the homebuyer tax incentive, the first half of 2011 had no incentive and thus the second half should not be as negatively impacted from buyers front loading their purchases.

Toll Brothers Is Building And Selling In Hoboken
1450 Washington Street, the latest in Toll Brothers' Hoboken condo offering, is being built at a breakneck pace. The 156 condo structure is on schedule for completion in the first half of 2012 and sales have already begun. Toll does not commit lightly and they are bullish on the sale prospects for the foreseeable future. A great sign for Hoboken real estate!

Keep up with the latest in Hoboken Real Estate through my free monthly Hoboken Real Estate reports.

Hoboken Housing Freedom

IN HOBOKEN, July 4, 2011

Tourists decend upon the waterfront like Pennsyltuckians looking for a free cupcake at Carlos. Where is the Hoboken Parking Authority when you need them? Probably too busy resting up to give Hobokenites warnings for legally parking at a meter for more than two hours.

So today I am going to keep it brief. I am going to grill meat, offer libations to the housing gods, and watch America's best fireworks thanks to Mr. Macy & Co. Take that Park Slope and the rest of Brooklyn. If you want to see the fireworks, hop on a train. Haha.

Tomorrow, I am going to get back to exercising my freedom of helping people reach the American Dream....Condo Ownership!



IN CONGRESS, JULY 4, 1776
The unanimous Declaration of the thirteen united States of America
hen in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security. — Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States. To prove this, let Facts be submitted to a candid world.

He has refused his Assent to Laws, the most wholesome and necessary for the public good.

He has forbidden his Governors to pass Laws of immediate and pressing importance, unless suspended in their operation till his Assent should be obtained; and when so suspended, he has utterly neglected to attend to them.

He has refused to pass other Laws for the accommodation of large districts of people, unless those people would relinquish the right of Representation in the Legislature, a right inestimable to them and formidable to tyrants only.

He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their Public Records, for the sole purpose of fatiguing them into compliance with his measures.

He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.

He has refused for a long time, after such dissolutions, to cause others to be elected, whereby the Legislative Powers, incapable of Annihilation, have returned to the People at large for their exercise; the State remaining in the mean time exposed to all the dangers of invasion from without, and convulsions within.

He has endeavoured to prevent the population of these States; for that purpose obstructing the Laws for Naturalization of Foreigners; refusing to pass others to encourage their migrations hither, and raising the conditions of new Appropriations of Lands.

He has obstructed the Administration of Justice by refusing his Assent to Laws for establishing Judiciary Powers.

He has made Judges dependent on his Will alone for the tenure of their offices, and the amount and payment of their salaries.

He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people and eat out their substance.

He has kept among us, in times of peace, Standing Armies without the Consent of our legislatures.

He has affected to render the Military independent of and superior to the Civil Power.

He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his Assent to their Acts of pretended Legislation:

For quartering large bodies of armed troops among us:

For protecting them, by a mock Trial from punishment for any Murders which they should commit on the Inhabitants of these States:

For cutting off our Trade with all parts of the world:

For imposing Taxes on us without our Consent:

For depriving us in many cases, of the benefit of Trial by Jury:

For transporting us beyond Seas to be tried for pretended offences:

For abolishing the free System of English Laws in a neighbouring Province, establishing therein an Arbitrary government, and enlarging its Boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule into these Colonies

For taking away our Charters, abolishing our most valuable Laws and altering fundamentally the Forms of our Governments:

For suspending our own Legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever.

He has abdicated Government here, by declaring us out of his Protection and waging War against us.

He has plundered our seas, ravaged our coasts, burnt our towns, and destroyed the lives of our people.

He is at this time transporting large Armies of foreign Mercenaries to compleat the works of death, desolation, and tyranny, already begun with circumstances of Cruelty & Perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the Head of a civilized nation.

He has constrained our fellow Citizens taken Captive on the high Seas to bear Arms against their Country, to become the executioners of their friends and Brethren, or to fall themselves by their Hands.

He has excited domestic insurrections amongst us, and has endeavoured to bring on the inhabitants of our frontiers, the merciless Indian Savages whose known rule of warfare, is an undistinguished destruction of all ages, sexes and conditions.

In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince, whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people.

Nor have We been wanting in attentions to our British brethren. We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which would inevitably interrupt our connections and correspondence. They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our Separation, and hold them, as we hold the rest of mankind, Enemies in War, in Peace Friends.

We, therefore, the Representatives of the united States of America, in General Congress, Assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the Name, and by Authority of the good People of these Colonies, solemnly publish and declare, That these united Colonies are, and of Right ought to be Free and Independent States, that they are Absolved from all Allegiance to the British Crown, and that all political connection between them and the State of Great Britain, is and ought to be totally dissolved; and that as Free and Independent States, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which Independent States may of right do. — And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our Lives, our Fortunes, and our sacred Honor.

— John Hancock

Hoboken Real Estate | The Hoboken Condos Weekly Report

Hoboken Real Estate The Hoboken Condos Weekly Report

The latest run down of Hoboken Real Estate with a focus on Hoboken Condos for the week of May 16-23.

40 new properties, including 35 condos in Hoboken.
11 condos under contract.
24 Sold properties, including 22 Hoboken Condos
31 Price changes of Hoboken real estate

This report includes one big commercial piece for almost $5 million dollars. Is it worth that much? Depends on what the city will let you build. So long to "The world's best coffee".

Think of buying or selling in Hoboken? You need this information and you need it real time. Get my free monthly reports to tract the Hoboken Real Estate market. Get my quarterly and annual reports for the big picture overview. All of my Hoboken Real Estate Reports include a list of Hoboken condos sold, list price to sale price ratios, trend analysis and more. Most importantly get my analysis and insights that come from experience. I am never too busy to work with you and for your referrals.


Brian Murray
RE/MAX Gold Coast Realty
56 Newark St.
Hoboken,NJ 07030
201-795-5200 x441
www.hobokenhomefinder.com
FREE Up To The Minute Market Report for Hoboken or Jersey City
http://www.homeinsight.com/Widget/default.asp?ZUI6YSUSKA06

Hoboken Condos | Mortgage Rates | Open Houses

Looking though the Hoboken Condos for sale? Interested in the open houses? Get all of Hoboken's Open Houses in one place.

Need Mortgage rates? From My Mortgage guy....

**Keep in mind that every borrower's situation is different, and each must be evaluated individually.

Rates could be higher, or lower, depending on each individual scenario!!**

REVISED May 20^th, 2011---- 2:00 PM ET
Lock Period = 30 Days

CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)

30 YEAR FIXED ---------------------------- 4.625%/ 4.733 APR

30 YEAR FIXED INTEREST ONLY--- 5.125%/ 5.361% APR

15 YEAR FIXED----------------------------- 3.750%/ 3.821% APR

5 / 1 ARM------------------------------------- 3.125%/ 3.009% APR

7/1 ARM ------------------------------------ 3.500%/ 3.314% APR

*All quotes are with 0 points
*Investment Properties --- ** Add 1.75 points (if 25% down)**
*There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV* Includes Hoboken condos.

CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS (loans greater than $417,000, but less than $729,500)

30 YEAR FIXED ------------------------- 4.750%/ 4.816% APR

15 YEAR FIXED ------------------------- 4.125%/ 4.241% APR

** Loan amount restrictions based on county and property type. Cash-out refinances over 60% LTV not allowed.

***There is a rate increase for condominiums over 75% LTV***

CONVENTIONAL JUMBO LOANS (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000 up to $1,000,000 loan amount)

30 YEAR FIXED--------------------------- 5.000%/ 5.112% APR

30 YEAR FIXED INTEREST ONLY-- 5.250%/ 5.324% APR
15 YEAR FIXED--------------------------- 4.125%/ 4.236% APR
5 / 1 ARM------------------------------------- 3.625%/ 3.395%APR

7/1 ARM -------------------------------------- 4.000%/ 3.646% APR

** All non-conforming loans need to be discussed in detail

** ARM rates on jumbo products could be lower with a 25% down payment or more

** There may be a rate add-on for condominiums and multi-family homes

*** Special Program 15/ 30 ARM -----4.500% / 4.698% APR - 1.00% Points --- Loans up to $1,000,000!!!

Michael Mundy

Senior Vice President, NMLS #208872

Pinnacle Mortgage, Inc.

Toll Free (877) 768-8800 x777

mmundy@pinnaclemortgage.biz

www.mundymortgages.com

Hoboken Real Estate | Top 3 Facts About The Spring Market

Hoboken Real Estate Top 3 Facts About The Spring Market

For those looking for Hoboken Condos or looking to unload their Hoboken Real Estate here are the top 3 facts from my April 2011 Hoboken Real Estate Report.

1. The upper middle of the market is coming back. While the million dollar plus Eli Manning Hoboken condos are always in demand for their outlandish size and commanding views, the $600k-$800k segment of the Hoboken Real Estate market has suffered recently. It's back. Only 12 condos over $500k sold in February and 12 over $600k sold in April.

2. The 4% discount. Average sale price to list price of Hoboken condos is holding at 96.1%. This percent is from the final price after price reductions so results may vary but it is a good starting point in your discussions.

3. No Tax Credit Spike: The total number of Hoboken condos under contract remained steady at 78 for the second month in a row. Likely the June and July contracts will not fall as sharply as last year.

Do you like my reports? My analysis. Sign up and get the info first. The people in my client appreciation program always get the info on Hoboken Real Estate before the rest of the market. It's free and you get monthly data, analysis and practical tips. Not some canned reports.

Hoboken Condos | Mortgage Rates

Hoboken Condos latest mortgage rates....

REVISED May 13th, 2011---- 3:00 PM ET
Lock Period = 30 Days

CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)

30 YEAR FIXED ---------------------------- 4.750%/ 4.868 APR

30 YEAR FIXED INTEREST ONLY--- 5.125%/ 5.361% APR

15 YEAR FIXED----------------------------- 3.750%/ 3.821% APR

5 / 1 ARM------------------------------------- 3.125%/ 3.009% APR

7/1 ARM ------------------------------------ 3.500%/ 3.314% APR

*All quotes are with 0 points
*Investment Properties --- ** Add 1.75 points (if 25% down)**
*There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV*



CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS (loans greater than $417,000, but less than $729,500)

30 YEAR FIXED ------------------------- 4.875%/ 4.981% APR

15 YEAR FIXED ------------------------- 4.125%/ 4.241% APR

** Loan amount restrictions based on county and property type. Cash-out refinances over 60% LTV not allowed.

***There is a rate increase for condominiums over 75% LTV***


CONVENTIONAL JUMBO LOANS for Hoboken Condos (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000 up to $1,000,000 loan amount)

30 YEAR FIXED--------------------------- 5.000%/ 5.112% APR

30 YEAR FIXED INTEREST ONLY-- 5.250%/ 5.324% APR
15 YEAR FIXED--------------------------- 4.125%/ 4.236% APR
5 / 1 ARM------------------------------------- 3.625%/ 3.395%APR

7/1 ARM -------------------------------------- 4.000%/ 3.646% APR

** All non-conforming loans need to be discussed in detail

** ARM rates on jumbo products could be lower with a 25% down payment or more

** There may be a rate add-on for condominiums and multi-family homes



*** Special Program 15/ 30 ARM -----4.500% / 4.698% APR – 1.00% Points --- Loans up to $1,000,000!!!



**Please call for rates on loans over $1 million or rates on FHA loans**



Total Fees Charged By Pinnacle Mortgage, Inc.


$395.00 -- Application Fee (Includes Appraisal, Lock-in, Credit, Flood & Processing)
$395.00 -- Commitment Fee (Wiring Funds, Attorney Review & Doc Preparation)





Michael Mundy

Senior Vice President, NMLS #208872

Pinnacle Mortgage, Inc.

mmundy@pinnaclemortgage.biz

www.mundymortgages.com