Weekly Market Report – 01/02/09: Condos for Sale on Singer Island, Florida

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There are 339 condos for resale on Singer Island; 1 condo sold in the last 7 days and 17 are currently pending. For the sale, “days on market” was 102. The sale price was 75% of list price.

Mortgage rates for 30-yr fixed rates have dropped for the ninth straight week with the average rate for 30-yr fixed mortgages dropping to 5.10%, down from this year’s previous low of 5.19% last week; and the 15-yr fixed mortgage rate averaged 4.83%, compared to 4.91% last week. 

This week, 40 percent of the mortgage experts polled by Bankrate.com believe mortgage rates will fall over the next 35 to 45 days. The rest are evenly split among those who think rates will rise, and those who believe rates will remain relatively unchanged.

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