LBI NJ Real Estate Mortgage Interest Rate Update
Long Beach Island NJ Real Estate Mortgage Interest Rate Update: For the majority of buyers in the LBI real estate market, a mortgage is necessary to complete the home purchase. One of the most common loans seen for buyers in the Long Beach Island real estate market is the 30 year fixed rate loan which saw a slight drop this past week. Therefore, understanding Long Beach Island mortgage rates is an essential stop to buying a second home or investment property on LBI. This Long Beach Island Mortgage Update can help you to understand how the current real estate market and mortgage market are performing.
Long Beach Island Mortgage Update
Rates on 30-year fixed home loans were stable again in the past week. This is always good news for home buyers in the LBI NJ real estate market. For the week ending March 29, Freddie Mac announced that 30-year fixed rates fell one tick to 4.44% from 4.45% the week before. The average for 15-year loans also decreased slightly to 3.90% and the average for five-year adjustables fell to 3.66%. A year ago, 30-year fixed rates averaged 4.14%, higher than today’s level. Attributed to Len Kiefer, Deputy Chief Economist, Freddie Mac — “Treasury yields fell from a week ago helping to drive rates on home loans slightly lower. The general rule of thumb is that a lower interest rate will only help buyer activity on LBI and elsewhere. While it is true that small movements in the interest rate are unlikely to determine if a buyer can or cannot afford a home on Long Beach Island, any decrease in ownership costs is a good thing! The yield on the 10-year Treasury dipped below 2.8 percent for the first time since early February of this year. The decline in Treasury yields comes as investors move into safer assets amid increased trade tensions. Following Treasurys, rates on home loans fell slightly. The U.S. weekly average 30-year fixed rate fell 1 basis point to 4.44 percent in this week’s survey.” 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 LBI 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 firstname.lastname@example.org www.lenherbert.com (609) 549-0270 (732) 684-5771 NMLS # 442515. I have worked with Len on several occasions for transactions in the LBI 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 on Long Beach Island or elsewhere. For more information about buying a home in the LBI real estate market please do not hesitate to contact me.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | email@example.com
You May Also Like: