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.
Beach Haven West NJ Real Estate Mortgage Interest Rates
Rates on home loans continued to increase in the past week. For the week ending February 1, Freddie Mac announced that 30-year fixed rates increased to 4.22% from 4.15% the week before. The average for 15-year loans rose to 3.68% and the average for five-year adjustables climbed slightly to 3.53%. A year ago, 30-year fixed rates averaged 4.22%, virtually the same as today’s level. Attributed to Len Kiefer, Deputy Chief Economist, Freddie Mac — “The Federal Reserve did not hike rates this week, but the market views future hikes as a near certainty. The expectation of future Fed rate hikes and increased borrowing by the U.S. Treasury is putting upward pressure on interest rates. The 30-year fixed rate is up over a quarter of a percentage point (27 basis points) from the first week of the year. Rates on 30-year fixed loans have increased for four consecutive weeks and are now slightly above where they were last year at this time.” 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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