Real Estate Briefs – 11/11/22
CRE Consultants announces recent real estate transactions
CRE Consultants has announced the following real estate transactions:
∫ Vitas Healthcare of Florida leased a 2,217-square-foot office space in Metro Executive Center at 4415 Metro Parkway, Suite 110, Fort Myers, from Coral Reef Metro, LLC. Randal Mercer of CRE Consultants represented the lessor and Andrew Pearl of Investment Management Associates represented the lessee in negotiating the transaction.
∫ Lifetime Roofing Specialists leased a 1,525-square-foot office building at 1620 Medical Lane, Bldg. 2, Fort Myers, from Ferreira MD Investments, LLC. Enn Luthringer, CCIM of CRE Consultants negotiated the transaction.
CRE Consultants, company that provides a full spectrum of commercial real estate and property management services to property owners, investors, landlords, tenants and developers, is located at 12140 Carissa Commerce Court, Suite 102, Fort Myers. For information, call 29-481-3800 or online visit https://creconsultants.com/
Average long-term U.S. mortgage rate back above 7% this week
WASHINGTON (AP) — The average long-term U.S. mortgage rate returned to the 20-year highs of two weeks ago when rates breached 7% for the first time since 2002.
Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate rose to 7.08% from 6.95% last week. A year ago the average rate was 2.98%.
The rate for a 15-year mortgage, popular with those refinancing their homes, climbed to 6.38% from 6.29% last week. It was 2.27% one year ago.
Last week, the Federal Reserve raised its short-term lending rate by another 0.75 percentage points, three times its usual margin, for a fourth time this year as part of its inflation-fighting strategy. Its key rate now stands in a range of 3.75% to 4%.
More increases are likely coming, though there is some hope that the Fed will dial them down as more evidence comes in that prices have peaked.