INTEREST RATES DROP BELOW 6.0% FOR HATTERAS ISLAND BUYERS !!!
Prospective buyers of Cape Hatteras real estate received an early Christmas present today when interest rates dropped below 6.0 percent!
Interest rates on conventional 30-year fixed rate loans (those below $417,000) offered by a major lender are 5.875 percent with no points and 5.625 percent with the payment of one point (one percent of the loan amount). The interest rate on Jumbo loans, those with loan amounts in excess of $417,000, is 6.375 percent with the payment of one point.
This is good news for buyers since the interest rate reductions make properties more affordable. The interest rates on home mortgages track closely with the yields on 10-year Treasury notes. The yield on the 10-year Treasury notes have been falling recently as nervous investors shifted funds out of stocks into more conservative investments.
The current real estate market on Hatteras Island offers a wide choice of very attractive properties. The supply of homes significantly exceeds demand, and sellers are receptive to reasonable offers. When you combine this environment with lower interest rates, the inescapable conclusion is that it is great time to be a buyer on Hatteras Island.
We invite you to contact us by phone at 252.305.1556 or by e-mail at hranicka@hatterasisland.com to learn how easy it can be to make your dream of owning a place at the beach come true.