Interest Rate Update in the Beach Haven West NJ Real Estate Market
Beach Haven West NJ Real Estate
Buying a home in the Beach Haven West real estate market is no small investment! There are many factors to consider when making such a life-changing decision and you want to make sure you understand all aspects of the transaction. Apart from the obvious like home style and location, there are things to consider like flood insurance, bulkhead condition and the current interest rate amounts. Even small changes to the current mortgage rates in the Beach Haven West real estate market can have expensive and long lasting effects on the affordability of your home in Beach Haven West. Beach Haven West NJ Real Estate Mortgage Interest Rates should be understood by all buyers looking for a home in Beach Haven West.
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Beach Haven West NJ Real Estate Mortgage Interest Rates
The rise in rates for home loans slowed in the past week. This is especially helpful for all real estate markets including the real estate market in Beach Haven West and Stafford Township. For the week ending February 22, Freddie Mac announced that 30-year fixed rates increased to 4.40% from 4.38% the week before. The average for 15-year loans rose one tick to 3.85% and the average for five-year adjustables climbed to 3.65%. These loan products are often used as a purchase tool in the Beach Haven West real estate market. A year ago, 30-year fixed rates averaged 4.16%, higher than today’s level. Attributed to Len Kiefer, Deputy Chief Economist, Freddie Mac –“Fixed rates on home loans increased for the seventh consecutive week, with the 30-year fixed rate reaching 4.40 percent in this week’s survey; the highest since April of 2014. Rates on home loans have followed U.S. Treasurys higher in anticipation of higher rates of inflation and further monetary tightening by the Federal Reserve. Following the close of our survey, the release of the FOMC minutes for February 21, 2018 sent the 10-year Treasury above 2.9 percent. If those increases stick, we will likely see rates continue to trend higher.” Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.
Buying a Home in the Beach Haven West Real Estate Market
This information is provided by Len Herbert , Branch Manager Advisors Mortgage Group, LLC. His contact information is 1411 Highway 35 Ocean, NJ 07712 lherbert@advisorsmortgage.com www.lenherbert.com (609) 549-0270 (732) 684-5771 NMLS # 442515. I have worked with Len on several occasions for transactions in the Beach Haven West Real estate market and highly recommend him as trusted professional. It is important that all buyers understand that not all buyers will qualify for a home loan or for certain interest rates. It is best to speak to a lender to see how your individual situation will impact your mortgage options in the Beach Haven West Real estate market or elsewhere. For more information about buying a home in Beach Haven West please do not hesitate to contact us.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
www.beachhavenwestrealestate.com | www.BuyLBI.com
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