ABBA First Mortgage News

Compare this 2/bedroom apartment rent to a 3/bedroom mortgage payment.

I’m shocked when I read that a two bedroom unit averages a rental cost of $1469 nationally when one can purchase a very nice 3 bedroom/2 bath home in here in Wilmington through ABBA First Mortgage for less than $1295 all inclusive with 3.5% down.  That’s right.  Today, a first time home buyer or buyers waiting for the right home to come along, can buy a home with less than $6900 out of pocket.  Please call ABBA First Mortgage as we have seen 2 or 3 of these homes come on the market within the last week or so.

To justify our request to look at these homes through one of our real estate agent friends that is keeping us up to date on what is available locally, July saw increased rental prices across the US, according to data from Zumper’s new National Rent Report.

The report found that the national one-bedroom rent rose 0.3% to $1,220 in June. Meanwhile, rental price for a two-bedroom unit slightly fell 0.1% to $1,469 nationwide. Both units’ prices came up 0.8% and 1.9% annually.

Demand for rental spaces in San Francisco drove prices up, with the price of a one-bedroom unit rising $20 to $3,720. San Jose followed, and Boston came down at third. Washington, D.C., ranked as the fifth priciest city, surpassing Los Angles, while Oakland slid to the seventh spot.

A one-bedroom rent in New York, on the other hand, dropped after reaching its three-year peak in Zumper’s last rent report. It now costs $2,940 to rent a one-bedroom apartment in NYC and $3,380 for a two-bedroom unit.

Year-over-year, rental prices in the mid- to lower-tier markets cooled off, experiencing larger amounts of double-digit declines.

By far, Raleigh’s annual rent growth was the fastest last month, up 5.1%. Chicago and Bakersfield had the biggest dips, both coming down 5.1% from 2018.  Why rent when you can buy?  Let us help you get there.  Call ABBA First Mortgage at 910-332-0650.

Leave a Reply