• 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!
Ready for your free, no-obligation personalized rate quote?
Get Started Today

Mortgage Rates August 13, 2013

Bonds dropped lower today after it was projected they continue to climb. Mortgage bond prices have been up, but the number of sellers has soared as everyone gets anxious about the Fed tapering (IF the Fed begins tapering). Stocks have rebounded a bit as well, which is likely weighing on bonds even further. We haven’t lost all of the gains that were made yesterday, but potentially this means we just have a bit of wiggle room before we’re really in trouble. Definitely not the news we were hoping for.

The Retail Sales report is in, and it looks like they’ve risen once again. The report shows a gain of .02% in July. It may not sound like much, but it’s the fourth straight month we’ve seen retail sales go up. If you don’t include the auto industry in the report, the figure goes up to .05%. Modest gains, but welcome ones. In all other respects, it doesn’t appear the figures have had much effect on the market. We’re leaning toward locking rates today, just in case bonds end up falling further.

August 13, 2013 our updated mortgage rates in Florida are:

  • 30 Year Fixed Rate Mortgage – 4.125% (4.338% APR)
  • 15 Year Fixed Rate Mortgage – 3.125% (3.536% APR)

Disclosures

Investors and lenders are definitely getting worried about the Fed tapering (reducing its purchases of mortgage bonds and treasuries) in the fall. Of course, there is an inherent risk to the real estate market, which has otherwise been doing well, and we know we can expect to see an increase in rates. However, we still suspect this will be somewhat offset by the Fed reducing the target Unemployment Rate from 6.5% to 6%. We also suspect that the Fed will not leave us totally stranded. While the number of purchases will be reduced, the Fed has no plans to stop buying all bonds immediately. Rates, while they will go up, shouldn’t be unbearable for most of us. We’ll all have to wait and see, naturally, but there’s no reason to get worked up about anything just yet.

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
  • Call Today! (407) 704-8729 Hours: 8:30am to 9:00pm EST

  • View $1000 Best Rate Guarantee Terms & Conditions | All rights reserved © 2018 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. Notice: My Town Realty (License #: CQ1049127) and Florida Home Funding (NMLS ID: 870878) are both wholly-owned entities of Shahram Sondi (NMLS ID: 186790, License #: BK3225742). Due to this relationship, any referral between these two entities has the potential to financially benefit Shahram Sondi. Under no circumstance are you required to engage the services of one or both of these entities.
  • Florida Home Funding