3 Real Estate Finance Trends

We mention briefly three current trends in the mortgage financing part of the real estate industry:

1. Almost 1 out of 5 homeowners in America now have a mortgage rate of 6% or higher, the highest amount with rates that high since 2016. Here’s a link with more info: https://www.msn.com/en-us/money/realestate/nearly-1-in-5-homeowners-with-a-mortgage-pay-6-or-more-interest/ar-AA1yDaJO?ocid=BingNewsVerp

2. Local banks often have the best 30-year mortgage rates right now. Reach out to us for contacts with these banks if this is the option that most interests you.

3. Private equity is moving heavily into mortgage financing. They are providing mortgage brokers new options that might be especially appealing for investment buyers or buyers who can’t qualify with traditional income sources. For details, we recommend talking to our preferred lender from Prosperity Home Mortgage (also like Long & Foster a part of Berkshire Hathway Home Services) Michael Mento. You can find his info here: https://www.phmloans.com/mortgageconsultant/michaelmento

And as always, find links below for everything listed, put under contract, or sold in Sea Isle, Avalon & Stone Harbor, The Wildwoods, Ocean City, and Upper Township (includes Strathmere) below. To discuss anything real estate related or your plans to buy, sell, or rent, call us at 609-478-0333 or email [email protected].