Weekly Market Update-11/28/08: Condo Sales on Singer Island, Florida

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There are 344 condos for resale on Singer Island; one condo has sold in the last 7 days and 14 are currently pending. 

Mortgage rates plunged dramatically this week.  Rates for the 30-yr fixed mortgages averaged 5.97%, down from 6.04% last week; and the 15-yr fixed mortgage rate averages 5.75%.

Mortgage experts polled by Bankrate.com this week believe rates will fall over the next 35 to 45 days.  While 25 percent predict an increase, the remaining believe rates will remain relatively unchanged.

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