Although the rate on this month’s Pulse shows an average of 6.31% for June, it does not reflect the new rates that we will see in the coming months due to the Feds raising the federal-funds rate by a quarter of a point yesterday. Mortgage interest rates should continue to rise throughout 2004, but only at a modest pace. The feds had not tinkered with the rates in almost four years.

Orange & Seminole Counties*
Avg. Mtg. Rate Inventory New
Listings
Sales
Pending
Back on Market Expired Withdrawn
Sales
Closed
Avg. Days on Market
June.03
5.54%
7,448
2,768
1,847
838
290
647
1,769
58
July.03
5.73%
7,267
3,531
2,598
421
325
779
2,002
60
Aug.03
6.78%
7,213
3,238
2,321
505
365
748
1,903
60
Sept.03
6.64%
7,247
3,095
2,108
305
353
731
1,859
59
Oct.03
6.29%
7,308
3,276
2,151
489
304
761
1,906
59
Nov.03
6.23%
6,973
3,266
2,424
236
269
777
2,254
60
Dec.03
5.38%
6,522
2,280
1,992
307
474
585
2,082
61
Jan.04
5.38%
6,605
3,403
2,619
306
305
682
1,512
66
Feb.04
5.45%
6,182
2,918
2,632
363
326
659
1,405
61
Mar.04
5.25%
5,634
3,444
3,387
372
268
696
2,081
59
Apr.04
6.04%
4,995
3,212
3,403
391
197
696
2,036
57
May.04
6.31%
4,650
3,322
3,348
450
162
626
2,131
53
June.04
6.31%
4,360
3,186
3,142
443
164
690
2,526
47
* Based on Hotsheet reports and have not been purged. Truer figures may be found under Housing Statistics at orlrealtor.com
Membership June 2004 June 2003 Unemployment Rate Orlando MSA
ORRA 7,758 6,141 May 2004 4.1%
CFCRES 298 324 May 2003 4.9%
Affiliates 523 494
Applicants 296 171

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