Dear Friends,
How’s the current market? Good question!
As this week progressed, and as the World Health Organization classified this new strain of Corona as a pandemic, the reassuring feelings we heard earlier in the week in economic news seemed to wane in proportion to each news item about sporting events, schools, parades and public events being cancelled and quarantines and isolations have beet put in place.
Dear Friends,
How’s the current market? Good question!
As this week progressed, and as the World Health Organization classified this new strain of Corona as a pandemic, the reassuring feelings we heard earlier in the week in economic news seemed to wane in proportion to each news item about sporting events, schools, parades and public events being cancelled and quarantines and isolations have beet put in place.
On Main Street, we had been extremely busy with Spring market activity, in sharp contrast to last year’s Spring market activity, but now everything is on pause.
Monthly report links directly below show sales volume way up in many towns and inventory down across the board year over year, with prices fairly flat — the result of historically low interest rates and our last couple of years’ worth of price declines. Take a look at the graph below for a snapshot of interest rates over the last 28 years.
Meanwhile, if you’re looking for a great getaway, I’m excited to bring you the just listed fabulous beachfront penthouse below.
All the best,
Joni
|
|
|
Beachfront Penthouse
$1,199,000
Modern, Long Island Sound-front compound with gated entry and private elevator access to pristine ‘right-sized’ 2 BR / 2 BTH condo – terraces from every room, all overlooking the endless, private, protected sandy beaches of Fairfield’s Kensie Point.
|
|
A Comparison of 30 Yr. Fixed Vs. 15 Yr. Fixed Rates*
|
|
Looking at interest rates over time, 30-year rates have always trended slightly higher than 15-year rates. This is due to lenders taking slightly higher risks that borrowers will default over a longer period of time. In comparing the rates in this chart, we can see rates continue to be at historic lows.
*Courtesy of Lendingtree
|
|
|
|
|
