HOME SALES
Existing home sales in Florida continued to show a more sustainable pace of sales in February while still-low mortgage rates sparked buyer interest, according to FAR. Statewide sales of single-family existing homes totaled 10,779 last month for a 23 percent decrease compared to February 2006. The statewide existing home median sales price was $235,500.
MORTGAGE RATES
Rates on 30-year mortgages edged up slightly this week to average 6.16 percent, but still remained near the lowest level for the year, according to Freddie Mac’s weekly nationwide survey.
SUBPRIME MORTGAGES
Charges of blame were flying Thursday. Congress wants to do something about the rising number of foreclosures among homeowners unable to meet higher payments, a result of the meltdown in the subprime or high-risk mortgage market.
For additional information on these news items, please contact Glenn Ginsburg, Naples Real Estate Agent.