Florida's Existing Home Sales Rose!

Florida's existing home sales rose!

Florida's existing home sales rose 24 percent in January, making it the fifth month in a row that sales activity increased year-to-year, according to the latest housing data from FAR. Florida Realtors also reported a 13 percent gain in statewide sales of existing condos last month. NAR reported that nationwide sales of existing homes - all housing types - fell 5.3 percent last month; at the same time, inventories fell to a two-year low.

Mortgage news!! Good News!!

Today's rates are:

Conforming loans up to $417,000
30 year fixed 5.375%
15 year fixed 4.875%

Jumbo ARMS up to $650,000:
5/1 ARM @ 4.875%*
7/1 ARM @ 5.125%*

*Add .125% to rate for jumbo loans up to $3mmMortgage rates hold below 5.5 percent