Naples Mortgage Rates
Naples is a Gulf-side community that is well-known as a tourist attraction and a great place to live. It’s no shocker that it has made several “Best Places to Live” lists. One of the main attractions of Naples is its real estate. Whether it is a temporary stay in a beachfront residence or a long term retirement home, the community takes great pride in building structures that are functional and awe-inspiring. For the past couple of years, however, the news about the real estate in Naples has been somewhat negative. In 2010, real estate development came to an abrupt halt when its pristine shoreline was marred by the Gulf of Mexico oil spill. There have been other problems, but the worst have already passed. As Naples mortgage rates continue to decline, currently at an all-time low, the “tide” is turning for the community.
What’s causing the dramatic effect on the Naples mortgage rates? There are several factors, but one of them stands out as having the greatest impact: the state of the economy. The economy is undoubtedly on everyone’s mind, and it’s really a global concern. Europe, for example, is currently struggling to secure financial backing for its banks. If a solution isn’t discovered soon, real estate investors may not feel confident enough to invest in markets in any part of the world. This becomes a major catalyst for low Naples mortgage rates because it means that investors are less interested in new construction and there are fewer people buying new homes. Naples real estate continues to see a large amount of foreign national and second home purchases driving home sales.
The news lately does not sound good, but there is a silver lining to the current economic troubles. Naples mortgage rates at all-time lows is actually good news. While no one wants to revel in the negative state of the economy in the U.S. and abroad, there is a spark of good news in the real estate market—particularly, the fact that Naples real estate is turning around. According to numbers published by the U.S. Commerce Department, new home developments in this country are higher now than they have been in four years. The renewed confidence of home builders is exciting and surely a good sign that the Naples real estate market is headed in a good direction.
What’s in the future for the Naples real estate market?
None of us are able to predict the future, but the real estate market in Naples appears to be really good for anyone interested in making a real estate investment in Naples. Of course, timing is important. Now that the Naples mortgage rates are at their lowest, there are several great real estate opportunities available. Which one is right for you? That depends on your specific situation. Are you looking to refinance your current home? Are you interested in buying your first home? Maybe you’re ready to buy a beachfront home to enjoy the beautiful Naples beach during your vacation. You can learn more about the current real estate opportunities in Naples by contacting Core Mortgage Financial. You can expect unrivaled service and experience, and never an application fee.
Call us today at 239-431-5889 or apply online !
Disclaimer: This blog is for informational purposes only. Rates, programs, guidelines are subject to change without notice. NMLS #849597