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Florida Mortgage Rates October 15, 2013

Today we’ve hit Day 15 of the government shutdown and 2 days away from the impending debt ceiling limit. While the Senate is working on a bipartisan deal, the GOP House reported that they intend to pass their own bill, both of which give no guarantees that a deal will be done.

With all of this anticipation, stocks are down and mortgage bonds are more or less flat. The Empire State Index dropped to 1.5 in October, down from 6.3 in September, bringing it to the slowest pace in 5 months.

Good news for mortgage rates – Dallas Federal Reserve member, Richard Fisher, says he does not expect a bond buying taper at the Fed’s October meeting and he will not argue for one. The Fed’s current monetary policy includes buying $80 billion per month of treasuries and mortgage backed securities, a move that has helped keep mortgage rates low for over a year.

Florida Mortgage Rates October 15, 2013:

  • 30 Year Fixed Rate Mortgage – 4.00% (4.197% APR)
  • 15 Year Fixed Rate Mortgage – 3.00% (3.340% APR)

Disclosures

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