The average rate on the 30-year fixed mortgage held steady this week, staying slightly above the lowest level on record. Low mortgage rates have aided a modest housing recovery.
From the first to second quarter of 2012, the nation experienced a dip in the number of vacant homes for sale. In New Jersey, though, the number increased. Empty for-sale units can be good news for some New Jersey residents, and bad news for others, depending on one's current living situation.
Sales of new homes in the United States rose 3.6 percent in July to match a two-year high reached in May, the latest sign of a steady recovery in the housing market.
Housing, that so very crucial component of the economy, is making a recovery. But affordability remains an issue, especially for many New Jersey families.