Florida Mortgage : Learning Center

With the release of minutes from a December 11th meeting; the FOMC, Federal Open Market Committee, expects the economy to grow “noticeably below its potential in 2008″.  Today’s $100 targeted oil market, lower homeowner incomes, and the housing mortgage market mess have squeezed the lending industry almost dry.

This all sounds bad and is; however, this should encourage the Federal Reserve board members from making moves behind the curve and actually lower interest rates immediately.  It seems the Fed is always reacting to the market when I believe they should set the tone for market and economic improvement. 

Florida mortgage loans are still available for the few that can actually qualify.  More restrictive qualifying terms and increased credit score requirements can only be eased with mortgage rate cuts from the Fed.  2008 is going to be a year of very low fixed mortgage rates; wait and see.  If you are having trouble qualifying for a new home purchase mortgage or a refinance mortgage; please call your Florida mortgage professional. 

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