There are 322 condos for resale on Singer Island; 15 condos are currently pending. One condo sold within the past 7 days with a sale price 90% of list price and 202 days on market.
Rates for the 30-yr. fixed mortgage remained above 5% but are down slightly from last week’s 5.09 percent to 5.06 percent. This time last year the 30-year average was 4.96 percent. The average 15-year fixed mortgage rate fell to 4.45 percent from 4.50 percent the previous week.
“Interest rates for fixed-rate mortgages eased a little further this week, while ARM rates were mixed,” said Frank Nothaft, Freddie Mac vice president and chief economist. “With fixed mortgage rates staying near a record low, many homeowners are taking the opportunity to refinance. For instance, over the past three-and-a-half months, on average more than 75 percent of conventional mortgage applications were for refinance transactions, according to the Mortgage Bankers Association.
Do not expect much fluctuation over the next 30 to 45 days with 48 percent of the industry experts predicting minimal change according to Bankrate.com; 36 percent expect an increase and the remaining 18 percent call for a decrease.
For more information on specific condominium sales activity contact Jeannie at 561-889-6734 or email her at [email protected]