Weekly Market Update: Condo Sales on Singer Island, Florida

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There are 343 condos for resale on Singer Island; no condos have sold in the last 7 days and 13 are currently pending.

Mortgage rates dropped for a third straight week, reflecting the impact the weakening economy is having on financial markets.  Rates for 30-yr fixed mortgages averaged 6.04%, down from 6.14% last week;  and the 15-yr fixed mortgage rate averaged  5.73%, compared to 5.81%  last week.

Mortgage experts polled by Bankrate.com this week don’t know what to expect over the next 30 to 45 days. While 38 percent predict an increase in mortgage rates, an equal number foresee a decline. The remaining 24 percent expect no change.

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