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Low Mortgage Rates are Enticing Potential Homebuyers

For many people who have been recently considering purchasing a home they are just one step closer to making a decision to purchase a home because of another recent drop in mortgage rates.  Low mortgage rates are driving potential homebuyers to purchase the homes that they have been considering and with the housing tax credit this may just be the thing to push a lot of people who were undecided off of the fence. 

Making a decision to purchase a home is something that many people are considering with the home prices as low as they are, foreclosures and short sales as high as they are and mortgage rates as low as they are.  Currently 30 year fixed mortgages have dropped for the 5th straight week in a row to 4.71% (Freddie Mac). 

The cause for the recent drop of mortgage rates is two fold. 

• The Federal Reserve has indicated their intents to extend the period of time that they will be offering short-term interest rates.  
• Strong demand for government issued funds
  

If you would like more information about purchasing a home or have legal questions concerning purchasing a home your best move is to contact a real estate attorney.  A real estate attorney will be able to explain the process you need to go through to purchase a home from beginning to end.  Understanding the importance of a contact of sale, getting your mortgage committment, having a clear title and closing title are all things that can be explained by an experienced real estate attorney. 

If you would like to speak with a real estate attorney regarding the purchase of a home in New York or New Jersey contact Steven T. Decker Staten Island real estate lawyer.  Steven T. Decker will be able to assist you with understanding the legal side of purchasing a home and will also be able to represent you throughout the entire real estate purchasing process.  To speak with Steven Decker you can either call 718.979.4300 or 800.976.4904 or fill out our web form. 

Also, if you are considering using our Staten Island real estate law firm for your real estate transaction and closing of title we recommend that you read Steven T. Decker's book "5 Myths that Can Ruin the Purchase of Your Home".  If you would like a copy we are currently offering this real estate book at no cost and no obligation to those considering purchasing property in New York or New Jersey.