The Federal Reserve’s decision to reduce interest rates by a half-percentage point to a target range of 1% to 1.25% is creating a rare opportunity to buy a new luxury residence at Merrick Manor and save as much as $10,000 per year in post-tax interest payments.
Tuesday’s rate cut is the first to occur between scheduled Fed policy meetings in 12 years. A new article from Bankrate explains how this directly impacts rates for residential mortgages.
“As long-term mortgage rates hover below 4 percent, many borrowers are in a good position to save money,” according to Bankrate. The publication predicts residential mortgage rates will decline even more in the next few weeks.
These historic interest rate lows will not last forever. The same can be said for Merrick Manor’s limited offering of available residences.
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.