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The 30-year fixed mortgage rate averaged 2.88 percent for the week ending Oct. 1 — down slightly from 2.90 percent last week

The U.S. mortgage rate has reached its lowest level since tracking began in 1971. The U.S. mortgage rate dropped down to 2.86 percent in early September and the 30-year fixed mortgage rate averaged 2.88 percent for the week ending Oct. 1. Economists expect that the low mortgage rate below three percent would propel the home sales and refinance the real estate market hit by the unexpected pandemic. DBJ Staff, U.S. mortgage rates nudge down near historic low mark,

Tags: 30-year fixed mortgage, home buyer, home sales, low mortgage rates, nyc real estate, refinance

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Projections in New York Real Estate Post-COVID 19

Here is an article outlining expert predictions on what will happen to real estate in New York City. The New York Times interviewed nearly 50 people, including former senior city officials, real estate executives, affordable housing advocates, urban planners and brokers to get different perspectives regarding New York real estate David W. Chen, What Will New York Real Estate Look Like Next Year?, (Oct. 23, 2020)....

Tags: expert predictions, New York, New York real estate, NY real estate prediction, NYC, nyc real estate, real estate recovery, suburban migration, working from home

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Beach Real Estate prices in the Hamptons break records despite COVID-19

The average sales price in the Hamptons soared 46% in the quarter to just over $2 million, according to a report from Douglas Elliman and Miller Samuel. The median sales price jumped 40% to $1.2 million, which is now higher than Manhattan’s median sales price of $1.1 million. This is the result of wealthy families spending more time away from their lives in Manhattan. The beach home in many cases is no longer just a secondary home for vacationing, Robert Frank, Hamptons real estate prices b...

Tags: beach homes, beach property, Hamptons, Hamptons real estate, record real estate prices, soaring sales prices

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