There are 338 condos for resale on Singer Island; 16 condos are currently pending. No condos were sold within the past 7 days.
Rates stayed below 5 percent for the second straight week with the 30-yr fixed mortgage at 4.87% down from 4.94%. The average 15-year fixed mortgage rate decreased as well to 4.33% from 4.36%.
The below 5% rate has kick-started home refinancing activity. Refinance applications are up 18 percent from last week and homeowners considering refinancing should act soon while mortgage rates remain low. They will be going up in time with the Federal Reserve’s recent annnouncement that it is slowing down a program intended to lower mortgage rates and boost the housing market.
According to mortgage experts polled by Bankrate.com, 57 percent expect rates to hold steady over the next 30 to 45 days; while 29 percent foresee an increase and the remaining 14 percent expect further reduction.
For more information on specific condominium sales activity contact Jeannie at 561-889-6734 or email her at [email protected]