Singer Island, Florida – Weekly Market Update 05/14/10 – Condos for Sale

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2700 North Ocean

2700 North Ocean - Ultra-Luxury

There are 316 condos for resale on Singer Island; 17 condos are currently pending. One condo sold within the past 7 days at 80.5% of the respective list price after being on the market for 161 days. 

Singer Island Active Listings-051410 

Rates for the 30-yr. fixed mortgage fell below the 5% benchmark to the lowest level this year going from 5.00 percent to 4.93%. This time last year the 30-year average was 4.86 percent. The average 15-year fixed mortgage rate fell as well from 4.36 percent last week to 4.30 percent. 

 The drop came as investors shifted money from risky European debt to safe U.S. securities.  Bond yields fell as a result, and that lowered mortgage rates.  “In times of nervousness, everybody seeks the safe haven,” said Greg McBride, senior financial analyst at Bankrate.com. 

The majority (64 percent) of mortgage industry experts polled by Bankrate.com expect the rates to remain relatively unchanged in the next 30 to 45 days; 29 percent predict an increase while the remaining 7 % expect rates to fall. 

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

 

 

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