With the next Federal Open Market Committee, FOMC, meeting merely a week away; concerns over Ben Bernanke raising rates has already moved the Florida mortgage market. Fixed rate mortgages have jumped almost a half of one percent over the past week. The question is, where are they going from here.

It’s not that anyone is expecting the Feds to lower or raise interest rates at next weeks meeting.  The real concern is the language they will use regarding the inflationary outlook for the remaining 2008 year.Ben Bernanke has mentioned the Fed stands ready to “strongly resist” any long term inflationary expectations. Will this news and next weeks meeting push current 30 year fixed mortgage rates above 7.00%?  We will soon see…

If you are in the market for a new home in Florida or wish to consider your refinancing options; please contact your Florida Mortgage Professional soon. Interest rates can be protected – but only by locking in quickly. Call our office and ask about today’s low fixed rate conventional or VA Florida mortgage loans. 888.399.0520

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