Weekly Market Update-12/12/08: Condo Sales on Singer Island, Florida

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There are 350 condos for resale on Singer Island; no condos have sold in the last 7 days and 17 are currently pending. Mortgage rates for 30-yr fixed rates have dropped to their lowest levels in 4 years (March 25, 2004 at 5.4%) with the average rate for 30-yr fixed mortgages dropping to 5.47%, down from 5.53% last week; and the 15-yr …