Long Beach Island Real Estate Mortgage Interest Rates
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Why LBI Interest Rates Fuel the LBI Real Estate Market 
Why LBI Interest Rates Fuel the LBI Real Estate Market 
Why LBI Interest Rates Fuel the LBI Real Estate Market
Long Beach Island Real Estate
Since COVID began to impact our daily lives in March of 2020, prices in the LBI real estate market have been increasing. As prices have risen, demand has soared. While there are many reasons for this, including the simple fact that the Long Beach Island real estate market has been steadily growing even before COVID, interest rates have helped fuel the local and national markets. Indeed, the LBI real estate sales market is not that impacted by interest rates, but in today’s market, rates are so low that it provides a significant incentive to purchase a home on Long Beach Island.
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
Why LBI Interest Rates Fuel the LBI Real Estate Market
Interest rates will vary depending on the borrower, the type of loan, and the bank, but we have steadily been seeing mortgage interest rates in the LBI real estate market well under 3%. With these low rates, buying a home on Long Beach Island can make a lot more sense. Even with rising prices, many buyers are finding their monthly payments to be very manageable. The low cost of borrowing money has also opened out the investment market. Buyers can purchase a home and rent it out in the active LBI rental market. With the cost of borrowing money so low, the returns on these rental investment properties have increased significantly. Additionally, with money being so cheap to borrow, many buyers in the LBI real estate market are opting to borrow money and leave their personal funds invested elsewhere, like the stock market. By keeping money “working” in another investment, the cost of owning a home on Long Beach Island has actually dropped in many cases…and it is all thanks to low interest rates on an LBI mortgage.
Long Beach Island Real Estate Mortgage Interest Rates
Buying a home is a meaningful investment, and you owe it to yourself to explore all options. Generally speaking, the cost of borrowing money is very low right now, but not all borrowers will qualify for a loan to purchase a home on Long Beach Island. Additionally, some loans, for example, an investment loan, will usually carry a higher interest rate. All buyers in the LBI real estate market that are considering financing should discuss their options with a lender to see what makes the most sense for them. If you have any questions about buying, selling or investing in the LBI real estate market, please do not hesitate to contact me.
By : Nathan Colmer |LBI Real Estate Agent | 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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