Is it time to plan your vacation activities? Beach Haven Recreation Department opens parks for various activities, ranging from concerts at Veteran' Park to pickleball at Nelson Avenue
Interest Rates On Long Beach Island NJ
Interest Rates on LBI and the LBI Real Estate Market
Long Beach Island NJ Real EstateUntil recently, interest rates have been shockingly low allowing for many buyers to qualify for the purchase of a second home. With interest rates being so low, the affordable of monthly payments allowed buyers to purchase homes either at a higher price point or allowed some buyers to enter the market who would have otherwise been unable to do so. Interest rates therefore have a major impact on prices. Interest rates can impact LBI real estate pricing in the following ways:
- As the higher interest rates climb, there is a chance that more buyers will be eliminated from the LBI real estate market.
- Higher interest rates create higher monthly payments thereby making it harder to afford an expensive property.
- A higher interest rate makes the long term holding of a house more costly thereby making the investment less appealing.
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