It’s still the best time ever to take out a loan on an apartment property – thank in part to the “Brexit” vote in the U.K.
“You could argue that this environment today is the most favorable in history to refinance or close a new loan,” says Will Matthews, vice president and co-founder of the Southeast Multifamily Group for Colliers International.
Interest rates are extremely low and investors from around the world continue to pour money into U.S. apartment properties. That’s how it’s been since the Global Financial Crisis, when central banks around the world cut their interest rates and investors fled to the safest sovereign bonds, driving benchmark interest rates downward. Every time that dynamic seems about to change, some new bad news in the world economy resets the clock, and interest rates sink again. The vote in Britain to leave the EU, held June 23, was just the latest jolt.
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