LBI NJ Real Estate Mortgage Interest Rate Update
Long Beach Island Real Estate Mortgage Rate Update
Long Beach Island Real Estate
For the majority of buyers in the LBI real estate market, a mortgage is necessary to complete the home purchase. 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.
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Long Beach Island Mortgage Update
Rates on home loans moved upwards again in the past week. For the week ending January 25, Freddie Mac announced that 30-year fixed rates increased to 4.15% from 4.04% the week before. The average for 15-year loans rose to 3.62% and the average for five-year adjustables climbed to 3.52%. A year ago, 30-year fixed rates averaged 4.19%, slightly higher than today’s level. Attributed to Len Kiefer, Deputy Chief Economist, Freddie Mac — “Rates keep climbing. The 10-year Treasury yield reached its highest point since 2014 reflecting expectations of broad-based economic growth. Rates on home loans, in turn, followed the surge in Treasury yields. The 30-year fixed rate jumped 11 basis points to 4.15 percent, its highest level since March of last year. 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 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 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 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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