Florida Mortgage : Learning Center

With our government giving billions and billions of dollars to banks and even lowering the Fed Funds rate a full percentage point in the past month; you would think home buyers could enjoy lower fixed mortgage rates.  Well, as interest rates inch upward the only thing we can count on is next years conforming loan limits.

Last week, the new Federal Housing Finance Agency announced the conforming loan limits will remain $417,000 for 2009 for most areas in the U.S. but specified higher limits in certain cities and counties.  Keep in mind, the conforming loan limit is the maximum size of mortgage loans that Fannie Mae and Freddie Mac purchase.

This is good news I guess, I just wish banks would extend the government’s “bailouts” to the homeowner or home buyer.  We need lower interest rates.  The next Fed meeting in December may bring lower Fed Funds rates again -  the question is – will the banks, then, lower available consumer interest rates.  We must wait and see.  For current fixed Florida mortgage rates and upfront Good Faith Estimate, call our office anytime at 888.399.0520.

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