CNN has researched 384 housing markets throughout the U.S. to assess their current status and set predictions in place for the next few years.
Long Island, NY has a positive outlook by 2012. It’s encouraging news for first time home buyers looking for affordable mortgage rates in Long Island. Here’s what the next few years entail:
- The median home price is expected to drop 13.4% from first quarter of 2010 to the first quarter of 2011 is expected.
- The first quarter of 2011 to the first quarter of 2011 should see a 0.6% increase.
- The median family income
If you are looking to find top mortgage rates while the market is still low, now is the time. An increase in the median home price will stabilize the market, but it will mean longer term loans and higher down payments.
Use Long Island Banking Rates to find the most affordable interest rates on mortgages.