Weekly Update – 4/24/09: Condos for sale on Singer Island, Florida

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There are 393 condos for resale on Singer Island (6 new listings came on the market over this past week); 7 condos are currently pending and 1 condo sold within the past 7 days for 84% of list price.

Rates on 30-year mortgages fell slightly from last week but remained just ahead of record lows posted this month; the 4.80 % is down from 4.82% with the recoed low of 4.78% occurring on April 2nd.  Last year at this time the 30-year fixed mortgage rate was 6.03%.  The 15-year fixed mortgage remained unchanged at 4.48%.

Freddie Mac’s sibling company, Fannie Mae, refinanced $77 billion in loans last month, nearly double February’s level and the best month for such activity since 2003.

Frank Nothaft, Freddie Mac’s chief economist, noted that the Federal Housing Finance Agency reported house prices rose for the second straight month in February.

According to mortgage industry experts polled by Bankrate.com this week, 50% believe there will be no change in mortgage rates over the next 30 to 45 days, with 19% percent thinking they will rise, and the remaining 31% believing the rates will decrease.

 

 

For more information on specific condominium sales activity contact Jeannie at 561-889-6734 or email her at [email protected]

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