Florida Mortgage : Learning Center

We have been handling a higher volume of Florida mortgage related phone calls and emails lately.  As expected the surprise drop in interest rates made yesterday when the Federal Reserve lowered the Fed Funds rate and the Discount Rate by thee quarters each; has improved Florida consumer interest rates.

Of course the credit card, home equity line and auto loan rates improved but I am referring to the Florida mortgage market rates.  Whether you are seeking a 30 year fixed, 20 year fixed or 15 year fixed rate mortgage; rates have dropped like a rock overnight.  In fact part of the drop is due to the market expectations the Feds will lower again at the next FOMC announcement set for January 30th.

If you are anxious and are considering refinancing; call your Mortgage Professional now and take advantage of these great interest rates.  Make sure you receive upfront Good Faith Estimates and always compare closing costs as well of course the interest rate.   Remember too that rates are low today because of the expectations for next week.  If the Feds mention anything adverse to the markets expectations of the economy; rates mat again tighten and go up a bit.

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