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Mortgage Rates July 25, 2013

The market isn’t looking very well today, with both stocks and bonds opening lower this morning than yesterday. The official jobless report was released and the results are a bit worse than everyone expected. 343 thousand people filed for unemployment assistance for the first time last week, which is several thousand more than was originally estimated. It’s possible that a general fear concerning a loss of buyers and new generated gains is having an effect on trading today.

Median housing prices continue to rise but Mortgage bonds continue to plummet, as does the overall market bond trend. This means rates are going to continue rising and the housing sector will continue to be a bit volatile for a while. As we said yesterday, now might be a good time to consider locking both short-term and long term rates.

July 25, 2013 our updated mortgage rates in Florida are:

  • 30 Year Fixed Rate Mortgage – 4.25% (4.373% APR)
  • 15 Year Fixed Rate Mortgage – 3.25% (3.643% APR)

Disclosures

The Treasury is set to release $29 Billion in 7-year notes this afternoon. However, Treasury notes have been performing poorly recently so it will likely only add pressure to the bond market. As a last and final note, European markets suffered a hiccup overnight due to weak earnings from some of their major company players, and it’s likely that many U.S. investors are looking overseas as a means of generating some profit. With any luck, we’ll see general improvements by the end of closing today.

Check back tomorrow to get the newest rate updates!