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Florida Mortgage Rates October 29, 2013

Finally the Fed’s meeting is here, but news of the results won’t be out until tomorrow at 2 pm. Markets are not moving too much while investors await the outcome, although most believe that no changes will be made to the current monetary policy.

September Retail Sales was reported as down 0.1%; but without auto sales, rose 0.4%. The Producer Price Index (PPI) dropped by 0.1% and was in line with expectations. Consumer Confidence for October is 71.2 which is below the expected 73.1 and way below 80.2 that was recorded in September. Current data is showing an impact from the recent government shutdown.

For the good news, the Case-Shiller 20 city index rose to 12.8% in August on a year-over-year basis, above expectations of 12.4%. Further double digit increases are not expected since the slight rise in mortgage rates has slowed home price appreciation in some parts of the country.

Despite these released economic reports, mortgage bonds remain more or less flat while stocks are slightly up. For today, mortgage rates remain unchanged again.

 

Florida Mortgage Rates October 29, 2013:

30 Year Fixed Rate Mortgage – 3.75% (3.954% APR)
15 Year Fixed Rate Mortgage – 2.75% (3.106% APR)
Disclosures

Check back tomorrow to get the newest rate updates!