The Federal Reserve just reduced the benchmark interest rate by 1% to move borrowing costs closer to zero. This unprecedented emergency move was understandably made in an effort to put anxious Americans at ease about the impact of COVID-19 on the broader economy.
A further reduction into a negative benchmark interest rate could be coming next. As USA Today reports, the recent Fed rate cuts and record low Treasury yields do provide a “silver lining” for the concerns about where the economy is heading: the cost of borrowing money for everything from mortgages to student loans should drop in lockstep with the rates and bond yields.
“Experts say borrowers are poised to benefit from a combination of lower rates and a drop in bond yields in the coming months,” according to USA Today. Click here to read the full article.
Translation: residential buyers have a once-in-a-lifetime window to purchase a new residence and lock in a historically low interest rate.
Like everyone else, the team at Merrick Manor is focusing on doing our part to keep our residents and loved ones healthy by following the recommended guidelines to help prevent the spread of COVID-19. Safety is our top priority during these challenging times.
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.