Interest rates have been creeping up all year. Although they remain well below the 50 year average, the opportunity to own a vacation beach house gets slimmer as rates go up. Vacation and rental property loans typically have a bit of a hit to rate on top of the upward movement we have seen since the dawn of 2018.
The Long Beach Peninsula remains a wonderful value for coastal property. I have gone on about this for years daringly close to ad nauseam indeed. I will not belabor the point further today but will suggest that those considering a vacation or rental home anywhere and certainly at the coast, should be most aware of the lending rate trends under way.
Living on SW Washington's coast can be fantastic and it remains shockingly affordable. Check out my Retire to Washington blog to see why Washington State can be a very desirable location to retire and the coast is certainly an additional reason.
Tomorrow is the 4th of July and that means big 'ole beach party on Long Beach! Check out the Long Beach website for information here.