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NATIONAL MARKET OUTLOOK

Mortgage Rates

Mortgage rates have remained relatively steady in 2025, with slight declines driven by strength in the bond market. While these small reductions have been positive, they are marginal and less impactful than many buyers had hoped. The Federal Reserve has kept its target interest rate at 4.25% to 4.5%, and experts predict that further rate cuts won’t come until at least May due to ongoing inflation concerns.

If you’re looking to buy, the market is showing sings of stability and significant rate drops in the short term are unlikely. If you find the right home, now could be a great time to make a move. We recommend exploring different lenders to secure the best deal while keeping in mind the option to refinance for a better rate in the future.

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Recent Reviews

I've owned a rental property in Hoboken for 17 years and I have to say Amber Nugent and the Elizabeth Rakela Team are hands down the best realtors in Hoboken. I've probably rented the unit five or six times. Amber priced and marketed the unit perfectly. I had four offers within days. The signing of the lease was seamless. Amber coordinated a painter, handy man, and a blinds repair person for me. No realtor ever helped me get the unit ready and I am so grateful for Amber’s support.

Amazing Experience with the Rakela Team! I can’t say enough about the incredible service I received from the Rakela Team, especially Amber and Elizabeth, during the sale of my condo in Fort Lee. From start to finish, they made the entire process seamless and stress-free. Amber and Elizabeth went above and beyond to handle everything with expertise and efficiency.

Loved working with Elizabeth and Amber. Their support was constant throughout the entire home buying process. They were patient and understanding with me and ultimately helped me find the condo of my dreams! Fantastic team and great to work with!

I can't say enough good things about Elizabeth! Three years ago she helped me find a beautiful apartment, long-distance, and recently she helped me sell it. She is a consummate professional, a total expert in her field and a great resource for everything real estate-related. She made me feel like I'm her only client, although I know this isn't the case--she is super successful and very busy, yet she responded to my questions in a timely fashion and made sure everything was in place for a successful, stress-free experience.

Amber and the team are incredible and I can’t imagine what this process would have been like without them. As a first time home buyer, I came in with a million questions and concerns, and Amber helped me feel comfortable about every single one. Her professionalism is unmatched and her vibrant personality makes things even better. The team also offered great local referrals from lenders to inspectors to attorneys, making my process smoother than I could have imagined.

I've been working with Elizabeth and Amber on and off since 2020. In 2020, Elizabeth was a rockstar when I was looking for a small condo, and in 2024 both Amber and Elizabeth helped my wife and I score a lovely home in downtown Jersey City. Their knowledge of the Jersey City area is next to none, and they also helped us partner with awesome legal counsel, inspectors, and loan officers. I want to call out specifically their attention to detail across the entire process.

We have rented, bought and sold with Elizabeth Rakela and we highly recommend her and her team! Elizabeth knows the industry well and that is very important when it's time to negotiate on your behalf, know when to take an offer and when to wait and overall provide an excellent experience. We have felt very well taken care of by Elizabeth and her team.

Elizabeth and her team were amazing to work with. We didn’t realize how much hard work is necessary to get a home ready for showing. From strategy to staging to closing they helped us as partners every step of the way. We know who we will be working with next time we are looking for a new home!

We had a great experience and highly recommend working with Amber. As first time buyers in a competitive market, she was seamless in navigating the process with us and was always available to answer our questions. Amber, Elizabeth and the entire team was fantastic!

Elizabeth, Amber and the Rakela team are the PERFECT team! They knocked our simultaneous sale and purchase in Hoboken this summer outta the park! She and team are experts on the Hoboken market. They have incredible communication style, savvy negotiation skills and long-standing rock-solid relationships with every partner you need in the process. We couldn’t have made a better choice in a partner in the home sale and buying adventure! Never thought such a stressful process could be as enjoyable as it was with them!

Nicole and Elizabeth are true professionals. They are kind and patient, but that is not even the half of it. They will work tirelessly and leave no stone unturned until you are settled in a place you are happy with. If you are looking for a rental in the Hoboken area, you need these women in your corner

Elizabeth is phenomenal real estate broker. She is honest and takes great pride in finding the right home for her client. Elizabeth is very patient and showed us properties multiple times - there was never any pressure to “do something”. Elizabeth knows Hoboken real estate and the community extremely well. We couldn’t be happier w/ our experience working w/ Elizabeth and would enthusiastically recommend her to anyone looking for property in Hoboken or Jersey City.

Another amazing experience working with Elizabeth. She is attentive, accessible, knowledgeable and a complete pleasure to work with. Would highly recommend her to anyone looking to buy, sell or rent! Elizabeth was on top of everything throughout the process of selling our condo.

I highly recommend Elizabeth. She is knowledgeable, experienced, and has an excellent network across the board. Her direction/advice was always on point and we are extremely happy with the result of our sale. She definitely added value to our outcome.

Elizabeth was integral to the successful sale of our apartment. She advised at every stage of the process from staging to closing. We got significantly more than asking and I’m confident that it was in very large part due to Elizabeth’s knowledge of the market, expertise and finesse.

In the last seven years, Elizabeth has helped us buy an apartment, sell an apartment and find a rental in Hoboken. She is personable, professional, and incredibly knowledgeable about the Hoboken market. I can’t recommend her highly enough.

We had a complicated Covid home sale, and Elizabeth did a great job getting our house sold quickly and at great price. She was with us every step of the way with sound advice and great service. This was actually the 3rd time we worked with Elizabeth, and every time great.

Elizabeth was a true pleasure to work with on the sale of our apartment. Not only is she extremely knowledgeable about the local market, she has a great eye how to prep for sale. Extremely responsive and navigated us through the sale process flawlessly. We cannot recommend her highly enough!

Elizabeth is great, she makes a big decision easy. She takes the time to understand what your looking for which made the search efficient. I felt from the start she truly wanted me to end up in a home I'd love, and never felt I was being pushed in a direction outside of my zone.

Elizabeth helped us with the sale of our previous home and the purchase of our current one, both within the Hoboken community. Her extensive knowledge of the market, diligence and strong relationships in the area produced positive and timely outcomes - all amid a global pandemic. I strongly recommend Elizabeth.

I've had the pleasure of knowing Elizabeth for years and worked with her for several months to purchase a home. She was an expert in her field, knowledgeable of the area and what the market value of homes were. She was patient and honest with her feedback on the homes we looked at. I would highly recommend her to any buyer.

Elizabeth went above and beyond to list and sell our home during the peak of COVID-19. She was honest, professional and very responsive to all of our inquiries. She has strong knowledge of the real estate market: I would strongly recommend her for any real estate

Elizabeth was an absolute pleasure to work with! She made what is typically a challenging and overwhelming experience extremely pleasant and manageable. Elizabeth offered tips and market insight of a skilled, seasoned professional. I would highly recommend her to anyone

I highly recommend!!! Elizabeth is fabulous to work with and I have done so multiple times. She has such knowledge of Hoboken and has great insight into buying, investing and renting....all of which she has helped me through, making the process as painless as possible.

I have worked with Elizabeth 3 times in the past 5+ years and have had amazing experiences every time. She is thoughtful in how and when to best sell your home, helpful in guiding decision making when making offers and above all else always has your best interests in mind. She is focused on providing the best service her customers can have and a truly genuine person which goes a long way in negotiations

Elizabeth is extremely knowledgeable on the market, professional and responsive to any questions or concerns. She also provided great local referrals.

Elizabeth was recommended to me by a family friend in 2012 when my boyfriend and I were looking to buy a condo in Hoboken. She spent hours with us going over the process as first-time homebuyers, and when we were ready to sell in 2019, she helped us through an incredibly difficult sale. Elizabeth knows the Hoboken and JC market incredibly well and has a very direct, informative style.

Elizabeth is an excellent realtor! She is knowledgeable, always quick to respond, and goes above and beyond on all fronts! She has been a complete pleasure to work with both personally and professionally!

Elizabeth is terrific! When we moved to Hoboken 7 years ago, a family friend recommended Elizabeth to us and she was fantastic getting us situated in our new home. When it came time for us to relocate, Elizabeth was the first call to list our home for us. She helped with staging recommendations, color schemes, and her knowledge of the market is second to none. Our house was priced well and was sold quickly. I'd recommend her any and every time.

Elizabeth is the most outstanding realtor I have ever worked with. She was professional and easily accessible. Furthermore I was happy with the result. I recommend her on the highest regards.

Elizabeth is a well-organized, hard working and responsive real estate associate. She does excellent research on suitable properties, shows flexibility in scheduling visits and follows up very promptly after the visit. She's also very pleasant to work with and is always looking out for her clients.

Elizabeth is the best. I was a first time buyer who did not understand anything about the process and little about the market place. Elizabeth took the time to show me different properties to understand exactly what I was looking for. Her patience and knowledge were invaluable. There were no surprises. It was a great experience.

We have worked with Elizabeth to buy and sell a couple of condos in Jersey City and have found her knowledge and professionalism to be top rate. She was extremely responsive to all our inquiries. We would definitely work with her again. She made the process easy.

Elizabeth's knowledge of the local real estate market was instrumental in our house hunting process. Elizabeth listened to our requirements and suggested properties to fit our very specific needs. Based on current market conditions, Elizabeth advised us on key negotiating strategies. Elizabeth was a pleasure to work with and a professional in every way.

We worked with Elizabeth on the purchase of a home in Hoboken. She was wonderful to work with throughout the whole process. It was our first home purchase and she kept us well informed and explained every step. Elizabeth is a well-respected realtor in Hudson County and we would highly recommend her to anyone!

It was an absolute pleasure working with Elizabeth as we set out to purchase our first home. Elizabeth's around the clock access and knowledge of the market made the process extremely easy and painless for us. She is top notch and we would love to work with her again when the time comes. Needless to say we can not recommend Elizabeth enough.

Elizabeth is the ultimate professional - organized and timely, personable but candid where necessary. She considers the holistic approach when helping one sell their home, leaving no stone unturned and her strategy with our own sale yielded great success.

We highly recommend Elizabeth Rakela! She is extremely hardworking and very knowledgeable when it comes to the market, pricing, and trends. She takes time to cover all bases and acts in a morally responsible manner. She never takes the easy route - she works hard to do the right thing and does successful deals as a result. We feel lucky to work with her!