Font Boxes (Resizing) in Upfront

I have a text box near the bottom of my webpage. Inside I have 1 word (FIX.) and sized it to 50px. Now, I want to resize the box so I can have the text box below it come closer to the name (FIX.). I grab the yellow arrow at the corner of the text box and drag it up, but then it just snaps back to the original size and does this every time. The dotted line around this single word is huge. Is there any way for me to make this text box smaller?