A 30-year fixed-rate mortgage averaged 4.17 percent in the week ending Nov. 11, down from 4.24 percent last week. A 15-year fixed-rate loan averaged 3.57 percent, down from 3.63 percent last week.
Unfortunately, historically low mortgage rates haven’t translated into gains for the residential real estate market — at least not in Central Florida.
Despite a drop in prices, sales of existing single-family homes saw little change in the third quarter in Orlando, according to the latest figures from the Florida Realtors, formerly the Association of Florida Realtors.
Orlando existing home sales rose slightly, to 6,750 single-family home resales in the Orlando area in the three months ended Sept. 30, up from the 6,724 homes sold in third-quarter 2009. The median sales price of a single-family home in Orlando was $130,300, down from $145,800 in third-quarter 2009.
Read more: Mortgage rates fall to new lows | Orlando Business Journal
Unfortunately, historically low mortgage rates haven’t translated into gains for the residential real estate market — at least not in Central Florida.
Despite a drop in prices, sales of existing single-family homes saw little change in the third quarter in Orlando, according to the latest figures from the Florida Realtors, formerly the Association of Florida Realtors.
Orlando existing home sales rose slightly, to 6,750 single-family home resales in the Orlando area in the three months ended Sept. 30, up from the 6,724 homes sold in third-quarter 2009. The median sales price of a single-family home in Orlando was $130,300, down from $145,800 in third-quarter 2009.
Read more: Mortgage rates fall to new lows | Orlando Business Journal
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