The last couple of weeks we have seen interest rates for long term loans or 30 year mortgages rising slightly to an average of 5.21%, which was the highest since mid-august. As of this week it went back to 5.07%, a very desirable rate which will of course help buyers. This is according to Freddie Mac. This makes it even more appealing for buyers in Southwest Florida.
The lowest was in December 2009 when we saw rates of 4.87% which was just unthinkable a few months before.
rates for a 15 year fix is as of this week at 4.40%, a drop of .12% compare to last week.
be aware that lenders will make money regardless of the so called " no point loans". On average fees are .6% of the total loan for a 30 year fix and .5% for a 15 year fix.
Good time to buy? Certainly. South West Florida with its affordable homes mixed with appealing interest rates is one of the top three relocating places in the country, specially the Cape Coral and Fort Myers area. Low prices, good rates, and living in paradise is a winning combo.Buying Fort Myers Beach homes, Cape Coral waterfront homes, Fort Myers condos, Sanibel homes or Fort Myers single homes hasn't been so good in a long time.
For these who have been waiting to purchase for example in the gorgeous island of Sanibel for the "right time" or Fort Myers Beach and want to be "close to the beach and enjoy this island life style", contact LLoyd, your local Real estate Agent.
and Happy Hunting!
LLoyd Nichols
Right Choice Realty LLC
239-810-2980
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