It’s hard to tell how the U.K. leaving the European Union will affect all facets of the global economy, but there’s a bright side of Brexit for Sanibel real estate and real estate across the country.
In the wake of the Brexit vote, the average 30-year fixed mortgage dropped even lower, to 3.48%. A year ago, it was 4.08%. The average 15-year fixed mortgage rate also decreased to 2.78% from 2.83% the week prior.
According to CNN Money, “The drop in home loan rates can provide some breathing room for wanna-be buyers in the U.S. who have been facing rising home prices and tighter lending requirements.” Some experts also expect a boost in U.S. real estate with foreign buyers looking for a “safe haven to park their cash.”
If you’re interested in Sanibel real estate–whether you’re buying, selling, or just looking–contact one of our knowledgable Sanibel realtors, search our MLS for available properties, or get in touch with our office at 239-272-2411 for general inquiries. We’re also more than happy to help you find the Sanibel realtor that’s the right fit for you.
Source: Why Brexit is great news for U.S. homebuyers
RELATED ARTICLES:
This article is provided by John R Wood Properties, a full service Sanibel Island real estate agency made of people who love where they live as much as what they do. With local knowledge and decades of combined experience, our Sanibel and Captiva Island realtors are passionate and dedicated to exceeding your real estate needs.
About the author: Nina Rogers is a writer, designer, and illustrator who grew up on Sanibel Island. As a Communications Content Manager for John R Wood Properties, Nina enjoys keeping people updated with the latest in local news and Sanibel real estate.
