The stars are aligning for a one-of-a-kind opportunity to purchase a brand-new luxury condominium at Merrick Manor and take advantage of historic low interest rates and Treasury yields.
Last week’s decision by the Federal Reserve’s to reduce interest rates by a half-percentage point to a target range of 1% to 1.25% can result in savings of as much as $10,000 per year in post-tax interest payments. Additionally, the 10-year Treasury yield – a critical metric used to determine 30-year fixed mortgage rates – just plunged to an all-time low of 0.318%. These shifts translate into substantial interest rate bargains for adjustable and fixed-rate mortgages.
These historic interest rate lows will not last forever. The same can be said for Merrick Manor’s limited offering of available residences.
Beyond interest rates, a new report from NerdWallet dispels the misconception that buyers must have enough money set aside to cover a 20% downpayment and realize the dream of homeownership. However, some lenders frequently approve mortgages with as little as 3% down. First-time homebuyers can obtain various forms of downpayment assistance in the form of grants or loans to cover some of all of downpayment expenses.
Merrick Manor is the only brand-new, move-in ready condominium offering in Coral Gables. Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor also has a Zillow Walk Score of 77, making it “very walkable.”
Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative for Merrick Manor.
For more information about the residences at Merrick Manor, visit the Sales Gallery on the ground floor of the building – or contact the Berkshire Hathaway HomeServices EWM Realty team by calling (305) 779-6870. The Sales Gallery is open from 10 a.m. to 6 p.m. on Monday through Friday and from 11 a.m. to 5 p.m. on Saturday and Sunday.