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Vero Beach market awaits sales impact of lower mortgage rates

Summary by Vero News
Mortgage interest rates have been on a sled over the past year, scooting down nearly 2 points since last October. Rates have dropped more than a point just since May. A buyer putting down 20 percent and getting a 30-year, $800,000 mortgage to purchase a $1 million island home in October 2023 would have been saddled with a $5,759 monthly payment. The same buyer making the same deal this week would owe the bank just $4,900 a month. But despite the…
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