Mortgage rates are one among many factors that affect your loan. To obtain a competitive mortgage in New Jersey to purchase New Jersey Real Estate several factors affect the rate and points you receive. Mortgage interest rates are still low and banks and real estate lending institutions have 30 - 40 year stubborn loans for home buyers. With home values in many areas around the country, such as California, plummeting anywhere from 30 . Mortgage foreclosures involve homes that are foreclosed for non payment of mortgage and banks or the government tries to dispose them at cheap rates in order to recover the pending amount on it.