Florida Mortgage : Learning Center

In an effort to keep our economy from falling into a recession; the central bank came out this afternoon with Ben Bernanke’s announcement of lowering the Fed Funds rate by .50%.  This will help Florida homeowners  paying interest on their home equity lines of credit.  We should also see an improvement in car loans and credit card rates.

Since many banks and mortgage lending institutions already factored in the expected .50% drop; we may not see a dramatic move in lower fixed interest rates for Florida mortgages.  If rates, however, do improve today or tomorrow; even the slightest improvements; my recommedation is to grab it while it’s there.

Remember last week when the Feds lowered by .75%?  Interest rates available to Florida homeowners and home buyers dropped immediately.  But after a 2 day run , Florida mortgage rates ended up higher than they were the week prior to the surprise rate drop.  

Keep yourself ahead of where rates are and always lock-in when you have the opportunity.  The mortgage mess isn’t over and with conventional tightening of mortgage credit everywhere; I expect volatility to be at an all time high. 

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