Weekly Condo Update: 5/29/09 – Condos for Sale on Singer Island, Florida

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There are 368 condos for resale on Singer Island; 9 condos are currently pending and 3 condos sold within the past 7 days. The condos that sold closed for an average 89% of list price.

Rates on 30-year mortgages rose this week from 4.82% to a 4.91% average. Rates have been below 5% for more than two months. The average 15-year fixed mortgage rate also rose slightly from 4.50% to 4.53%.

Rates are starting to climb.  According to mortgage experts polled by Bankrate.com, 64% predict that mortgage rates will rise over the next 35 to 45 days, the remaining 36% think they 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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