West Palm Beach Mortgage Rates Hit an All-Time Low

West Palm Beach, Florida - Were you waiting for low interest rates to buy a West Palm Beach Home, Condo or other Real Estate in Palm Beach County?
Average interest on a 30-year fixed mortgage fell to an all-time low of 4.69 percent this week. These interest rates are down from 4.75 percent a week ago, reports Freddie Mac.

Although rates have held below 5 percent since early May, some Lenders note that demand for purchase loans has fallen in six of the past seven weeks and now is at a 13-year low. Consumers have grown used to low rates, he explains, adding that they balk at buying because they are more concerned about stagnant wages and high unemployment.

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Palm Beach Home Sold for $10.3 million, Owned by James Patterson

PALM BEACH, Florida — A Palm Beach home owned by the best-selling author James Patterson has recently sold for $10.3 million, according to the Palm Beach County Clerk and Comptroller.

James Patterson, who bought the five-bedroom, seven-and-a-half-bathroom home in 1999 for $5.2 million, is moving his family to another Palm Beach oceanfront mansion that he purchased for $17.4 million last year.

The Everglades Island home at 686 Island Drive was bought by Robert Greenhill of Greenwich, Connecticut.

The plantation-style colonial home has about 11,000-square-feet, a terrace surrounding a heated pool and spa, built-in barbecue and a dock with a boat lift.

It was listed for $14.95 million, and has a total market value of $11.83 million according to the property appraiser's office.

Built in 1933, the property also has 136-feet of frontage on the Palm Beach, Florida, Intracoastal Waterway.

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Coming soon for all your Mortgage and Loan needs is Loan Rise.

West Palm Beach Home Insurance Information

5 Things About Florida Homeowners Insurance



This Video is helpful for West Palm Beach Homeowners or for anyone in Palm Beach County, Florida.
If you watch this Video you will find some guidelines to get the best coverage at the best price -- and not get dropped by your insurer. Florida Homeowners Insurance is needed when a Mortgage is in place for a Florida Home.

Florida Homeowners insurance policies are an important aspect of home ownership in Florida. When you are purchasing Florida home, the insurance can protect both you, your family and your home.

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Coming soon for all your Mortgage and Loan needs is Loan Rise.

Florida Existing-Home Sales

West Palm Beach Homes are continuing to sell. News is that existing-home sales remained at elevated levels in May on buyer response to the tax credit. Most Florida real estate consultants characterized this by seeing stabilizing home prices and historically low mortgage interest rates. Gains in the West and South were offset by a decline in the Northeast; the Midwest was steady.

Existing-home sales, which are completed transactions that include single-family homes, townhomes, and condominiums were at a seasonally adjusted annual rate of 5.66 million units in May. That is down 2.2 percent from an upwardly revised surge of 5.79 million units in April. May closings are 19.2 percent above the 4.75 million-unit level in May 2009; April sales were revised to show an 8.0 percent monthly gain.

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Coming soon for all your Mortgage and Loan needs is Loan Rise.