Interest Rate Update in the Beach Haven West NJ Real Estate Market

Interest Rate Update in the Beach Haven West NJ Real Estate Market

Interest Rate Update in the Beach Haven West NJ Real Estate Market

Interest Rate Update in the Beach Haven West NJ Real Estate Market
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

Rates fell sharply in the past week. Generally speaking this is good news for buyers as it will make the cost of owning a home in the Beach Haven West NJ real estate market less. For the week ending May 31, Freddie Mac announced that 30-year fixed rates decreased to 4.56% from 4.66% the week before. The average for 15-year loans fell to 4.06% and the average for five-year adjustables decreased to 3.80%. A year ago, 30-year fixed rates averaged 3.94%. This drop in interest rates can literally save thousands of dollars on a home loan in the Beach Haven West real estate market.Attributed to Sam Khater, Chief Economist, Freddie Mac –“The decline was driven by recent trade and geopolitical issues, which led to a sudden decrease in long-term Treasury yields. Meanwhile, confident American consumers shrugged off the market volatility, as purchase applications continued to trend higher from a year ago. Extremely low inventory conditions in most markets are preventing sales from breaking out, while also keeping price growth elevated. These low inventory levels are very common in Beach Haven West as well as other markets like Long Beach Island. Even if rates climb closer to 5 percent, sales have room to grow more, but only if current supply levels start increasing more meaningfully.” 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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