Florida Mortgage Rates October 31, 2013
Happy Halloween! Now that we got through the Feds meeting, it should be business as usual, at least until next week when the October jobs report will be released. It’s scheduled for November 8th. For now, weekly jobless claims dropped by 10,000 to 340,000 which was higher than expectations of 335,000.
Talk about being spooked - Chicago PMI, which is a measure of manufacturing in the Midwest, surged to 65.9 in October, up from 55.7. This was the highest reached since March 2011; also the biggest monthly increase in over 30 years. This was definitely way above what was expected. In fact, this may be an indication that the government shutdown didn't have much of an affect on the economy after all.
Looking at housing, in September, foreclosures were down 39% from a year ago, according to CoreLogic. Foreclosure inventory is down 24% year to date and serious delinquencies are at the lowest level since December 2008.
Both bonds and stocks have had some movement, but not enough to change anything. For today, so far mortgage rates are flat and remain unchanged.
Florida Mortgage Rates October 31, 2013:
30 Year Fixed Rate Mortgage – 3.875% (4.051% APR)
15 Year Fixed Rate Mortgage – 2.875% (3.215% APR)
Check back tomorrow to get the newest rate updates!
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