There are 333 condos for resale on Singer Island; 15 condos are currently pending. Only one condo sold within the past 7 days for a sales price 47% of list; and days on market of 546 days.
Rates for the 30-yr. fixed mortgage climbed for the third straight week up to 5.03 percent from 5.00%. The average 15-year fixed mortgage rate increased as well to 4.46% from 4.43%.
Despite the government’s effort to support the housing market though their purchase of over a trillion dollars of mortgage-backed securities; qualifying for a loan is still difficult. Lenders have tightened their standards dramatically, so the best rates are available to those with solid credit and a 20 percent down-payment.
According to mortgage experts polled by Bankrate.com, 67 percent expect rates to increase over the next 30 to 45 days; while 25 percent foresee no rate change and only 8 percent expect further reduction.
For more information on specific condominium sales activity contact Jeannie at 561-889-6734 or email her at [email protected]