Weekly Condo Update 09/11/09 – Condos for Sale on Singer Island, Florida

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Singer Island, Florida

There are 336 condos for resale on Singer Island; 9 condos are currently pending. No condos were sold within the past 7 days.

Rates moved lower for a second straight week remaining near the record lows with the 30-yr fixed mortgage at 5.07% down from 5.08%. The average 15-year fixed mortgage rate also decreased slightly to 4.50% from 4.54%. Despite government efforts to prop up the mortgage market, qualifying for a loan is still tough. Lenders have tightened their standards dramatically over the past year, 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, three fourths of them believe the rates will either rise (38 percent) or remain relatively unchanged (38 percent) over the next 30 to 45 days; the remaining 24 percent of the experts think rates will 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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