Oct 19 2007
Florida Mortgage Rates Improve Again
Since the unexpected 3rd quarter earnings results from BOA were released combined with the Jobless Claims increase a few days ago; the mortgage markets have slowly improved. That is, banks are once again expecting the Federal Reserve to lower the Fed Funds rate at the end of October; thereby, lowering current rates. Here we go again.
This expectation has recently improved available Florida fixed mortgage interest rates. We have seen the Fannie Mae conforming 30 year fixed rate drop from 6.375% to almost 6.125%. All without charging any discount points or origination fees, of course. The greatest move recently in Florida mortgage interest rates is the Jumbo fixed mortgage rates. Our available rate dropped by almost one full point!
It seems the markets may soon be getting back in line with lower interest rate sand more importantly; more mortgage products to assist almost every Florida home mortgage seeker. Need clarity on which mortgag eprogram best suits you? Call your local Florida Mortgage Experts at BeechTree Mortgage.
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