Weekly Condo Update – 3/6/09: Condos for Sale on Singer Island, Florida

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There are 377 condos for resale on Singer Island (9 new listings came on the market over this past week); 0 condos sold in the last 7 days and 15 are currently pending.

Mortgage rates for 30-yr fixed rate rose this week from 5.07% to 5.15% despite falling stock prices; at this time last year, the 30-year, fixed-rate mortgage averaged 6.03 percent. The 15-yr fixed mortgage rate rose from 4.68% to 4.72%; at this time last year, the 15-yr fixed mortgage rate averaged 5.47%.

According to mortgage industry experts polled by Bankrate.com this week, 38% believe there will be no change in mortgage rates over the next 30 to 45 days, while 31% percent thinking they will rise, and the remaining 31% believing the rates will decrease. Experts can’t seem to agree this week.

 

 

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

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