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Florida Mortgage Rates September 18, 2013

Hallelujah, mortgage rates are low again. Fed’s announced today that they will keep mortgage bond buying intact by not tapering QE3 and sticking to the 85 billion dollars a month in asset purchases.  Now, we should start seeing rates coming back down. The fed recognizes the fact that higher mortgage rates are going to slow down the growth of the economy and will wait for further evidence before creating havoc.

Whether or not we will see 3 in front of 30 year fixed mortgage rates again is yet to be seen.  However, considering the fact the lenders have been padding the mortgage rates with tapering in mind.  We at least hope to start seeing mortgage rates getting much better than in the past few months.

Lower mortgage rates, especially FHA rates and VA rates for first time home buyers in Florida should start to improve tremendously. This will allow a first time home buyer to qualify for higher loan amounts or save more money on their monthly mortgage payment.

Here is a first updated glimpse at how low Florida mortgage rates have gotten just after today’s announcement:

  • 30 Year Fixed Rate Mortgage – 4.00% (4.197% APR)
  • 15 Year Fixed Rate Mortgage – 3.125% (3.466% APR)

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