What's your scenario?

When it comes to getting a mortgage, you've got more options than you think. Everyone's situation is different. Tell me your scenario below, and I'll present you with all your options.
Close this form
close

407-704-8729

Questions? Give us a call or chat now!
Ready for your free, no-obligation personalized rate quote?
Get Started Today

Mortgage Rates August 1, 2013

Bonds opened up at a steady level comparable to yesterday, but then dropped significantly. Not good news for mortgage rates, so you might want to think about locking them. On to what you really want to know; what did the Fed finally have to say about their plans? The Fed has stated that they will continue with their current bond program for now. This is more or less what we expected. They have also stated that the Fed Funds Rate will be suitable for a continued modest growth for the economy, even after the asset program is ended. This suggests that the Unemployment threshold will be lowered in order to keep rates from rising too high, but as we said before, the meeting in Sept. is when we’ll really get to find out what their plans are.

The initial Jobless Claims fell by almost 20,000, to the lowest level since 2008. So overall, the economy seems to be continuing to improve. The Fed have also stated that they do not wish to see rates rise any further tomorrow, so we’re hoping bonds will get over this hiccup today and level out.

August 1, 2013 our updated mortgage rates in Florida are:

  • 30 Year Fixed Rate Mortgage – 4.125% (4.361% APR)
  • 15 Year Fixed Rate Mortgage – 3.125% (3.536% APR)

Disclosures

Something to keep in mind when hearing all of these positive reports is that July’s report figures are almost always revised after the fact. This is in order to adjust for market distortions that routinely occur in the summer months. While it still appears there is reason to be optimistic, the market improvements we’re seeing now (small and more significant gains) may be less substantial than they currently appear. As we stated earlier, it would probably be advisable to lock your rates now. If and when bonds really do show improvement (and we are hoping it’ll be tomorrow), we’ll let you know.

Check back tomorrow to get the newest rate updates!

When it comes to getting a mortgage

you have more options than you think

customer_for_life customer_for_life_mobile
  • How much mortgage do I qualify for?

    The #1 question first time home buyers ask is: How much mortgage do I qualify for? This is READ MORE
  • FHA loan requirements 2017 in Florida (Frequently asked questions)

    What is the maximum loan amount/limit 2017? Maximum loan amount vary by county for traditi READ MORE
  • #1 mistake when searching “Mortgage Rates Today”

    #1 mistake when searching “Mortgage Rates Today” The #1 mistake consumers make with th READ MORE
  • First Time Home Buyer Florida Program First Time Home Buyer Florida Program Update

    There is no magical way for a First time home buyer in Florida to get a mortgage loan to b READ MORE
  • No Closing Cost Mortgage Home Loan

    What is a no closing cost mortgage? A no closing cost mortgage is simply an option that is READ MORE
  • Who is Eligible for a Mortgage?

    While most people may think that everyone is at least eligible for a mortgage, this is not READ MORE
  • Why do some mortgage lenders require cash reserves?

    When it comes to mortgages, there are a lot of guidelines that must be followed, all of wh READ MORE
  • Secrets to Getting the Best HARP Program Rates for Your Underwater Mortgage

    Stay away from vultures that try to rob you out of your savings. Learn some of the ins and READ MORE
  • Condo Financing in Florida Condo Financing in Florida

    Purchasing a condo that needs financing is not as easy as purchasing a single family home. READ MORE
  • Jumbo Mortgage When Is a Jumbo Loan Needed?

    Jumbo loans are more common today since building larger homes in residential areas has bec READ MORE
  • Principal Reduction Florida Hardest Hit Fund FAQs

    Florida will distribute about $350 million towards homeowners by way of principal reductio READ MORE
  • Florida VA Loans Florida VA Loans Requirement and Funding Fees

    Florida VA loans are designed to give our military whether active or retired the benefit o READ MORE
  • Why choose a local mortgage broker over large lenders like Quicken Loans or banks?

    For instance, there is no doubt that quicken loans is one of the biggest mortgage lenders READ MORE
  • What you need to know when shopping for a HARP Loan

    Not every lender has the same HARP loan rates and qualifying requirements for homeowners i READ MORE
  • Refinancing

    Interest rates are at a historic low right now, so if you've been thinking about refinanci READ MORE
  • Purchase a Home

    Whether you are a first-time homebuyer, an investor, or someone looking to find the perfec READ MORE
  • Call Today! (407) 704-8729 Hours: 8:30am to 9:00pm EST

  • © 2016 Copyright © 2016 Copyright Florida Home Funding

    Sondi And Associates, Inc. dba Florida Home Funding. NMLS ID: 870878 Location: 390 N Orange Ave #2125, Orlando, FL 32801 | Phone: (407) 704-8729

    Content provided by The information provided on this site is for basic informational purposes only and IS NOT intended as a substitute for professional or legal advice.
  • Explore Florida Home Funding