Recent increases in mortgage interest rates since February have elevated the total cost of homeownership for Long Island buyers. These shifts directly influence monthly debt service for new mortgages in the current…
💡 Five Town Homes & Living — With rates climbing, buyers should immediately recalculate their maximum purchase price to account for the higher interest-to-principal ratio in their monthly mortgage payments. Sellers may need to adjust their pricing strategies to align with the reduced purchasing power of buyers who are now facing higher monthly carrying costs. **We recommend that buyers lock in their rates early in the pre-approval process to protect their budget against further volatility during their search.**
Navigating the changing cost of homeownership.
We help you run the specific math on how these rate fluctuations impact your monthly budget for homes in your target price range. We’re your advocates, not just your agents. No surprises, just honest guidance.
Source: Newsday
Joey Frankel, a native of the Five Towns, Long Island with years of real estate experience is a social media expert, who will get your home the maximum exposure it needs. She is also a dual agent for both Manhattan and Long Island. Joey will bring you young professionals who are seeking the suburban lifestyle. Sandy Carl is a native of the Five Towns Long Island and familiar with the surrounding communities and school districts on Long Island. She brings over 15 years of event sales experience and real estate with a keen eye for design and home renovations. Frankel/Carl Team Five Town Homes at Douglas Elliman | Licensed Real Estate Professionals | 516-342-0056
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