U.S. long-term mortgage rates declined this week as growing concern over the economic impact of China’s viral outbreak spurred a steep downturn in global stock markets.
The Commerce Department said Wednesday that new homes sold at a seasonally adjusted annual rate of 764,000 last month. That’s the highest sales rate since July 2007, shortly before the U.S. economy slumped into the Great Recession.
The 16,675-square-foot building on .38 acres is 100 percent occupied.
U.S. mortgage rates rose slightly this week but they remain far below year-ago levels, which has provided a boost to home sales. Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year fixed-rate mortgage loan rose to 3.49% from 3.47% last week.
The new store will be Aldi’s seventh Long Island store.
The median price of pending home sales jumped 7.8 percent in Suffolk and 3.9 percent in Nassau.
Billy Joel’s bid to stable a dozen horses on his Long Island estate has some neighbors concerned about smelly manure, and the local government isn’t horsing around as it weighs the issue.
The three highest-priced home sales in Old Bethpage last month ranged from $650,000 to $990,000.
The company bought an 8,540-square-foot building on .69 acres.
The five-story, 22,145-square-foot office building and medical facility is on 1.01 acres.