Naples Real Estate News - 05/30/07

May 31, 2007 Posted in Real Estate News 

FLORIDA CONSUMER CONFIDENCE

Florida residents aren’t feeling as optimistic these days, according to the latest survey from University of Florida’s Bureau of Economic and Business Research. Record-high gas prices and a soft housing market caused consumer confidence in Florida to fall three points in May to 82, its lowest level since October 2005.

MORTGAGES

Bank of American’s new “no-fee mortgage†isn’t really new, industry watchers say. Instead, it’s similar to “no-cost†home loans from other residential lenders like Countrywide and E-Loan: Bank of America will pay some, but not all, of the costs involved and the borrower will pay a higher interest rate.

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