Buyers seeking to finance a Naples Gulf Access property may be in luck. This week, mortgage rates slid to a record-low: 3.29%. Since Freddie Mac started tracking the interest rates in 1971, this is a record low. Clearly, the Feds are hoping to lift the US housing market. Elsewhere, in Naples Gulf Access, Southwest Florida currently has a strong real estate market, with 30+ % more pending sales than the year before. Marco Island pending sales are up a whopping 47% year over year. The recent cuts in interest rates may further increase what is becoming a sellers’ market. Despite the record low interest rates, Naples Gulf Access has yet to see any significant inflation in home prices over the past couple of years. While the future is anyone’s guess, it may be a historically good time to purchase Naples Gulf Access property, especially if you are purchasing the home or condo with long term debt at the lowest rate ever.
Posted on March 11, 2020 at 3:54 pm by Jared Sugerman