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Mortgage Rates Reach All Time Low-Tampa, Fl

Just a quick update on the lowest mortgage rates we’ve seen in a long time! I was sent this today:

Conforming 30 yr fixed : 5.25%

Conforming 30 yr fixed: 5.0%

30 yr FHA rates: 5.125%

30 yr VA rates: 5.375%

JUMBO 5 YR ARM: 5.5%

JUMBO 7YR ARM: 5.75%

Here is what happened that caused mortgage rates to drop:

The mortgage industry just received a nice boost!  The Fed is going to buy Mortgage Bonds.  The Federal Reserve just announced that it would purchase $600B of Mortgage-Backed Securities (MBS) backed by Fannie Mae, Freddie Mac, and Ginnie Mae.  This brilliant move by the Fed is designed to help increase the availability of credit, while lowering fixed mortgage rates.  And this move is already lowering mortgage rates so far today as Mortgage Bonds are up a whopping 128bp and appear destined to retest the price highs of 2008.

In addition to purchasing debt  backed by Fannie and Freddie, the Fed will set up a $200B program to support consumer and small-business loans.  The Fed looks for the plan to create liquidity in the auto, student and small business loan market.

If you’ve been waiting to buy a home; now is the time!
Search homes for sale in Tampa at

www.TampaBayDwellings.com

or contact Rae at Prudential Tropical Realty 813 784 7744 for more information!

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Written by Rae Catanese, Realtor

Licensed Realtor since 2002, Tampa Bay’s own Rae Catanese regularly gives expert advice and insider tips about the Tampa Bay real estate market via her blog, The Tampa Real Estate Insider. If you are thinking of buying or selling a home in the Tampa, St. Petersburg or Clearwater areas-then this blog is for you. I typically post articles once a week. To make sure you don’t miss my newest posts, you can subscribe here! Have a real estate question? Email me here!

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2 Comments

  1. realtyrae

    Thanks so much! How are things in the UK? I’m noticing activity from overseas investors wanting to take advantage of the buyers market in the Tampa, Fl area.

  2. Insurance Guide

    Nice bog you have here. I pretty much lurk the internet when I’m bored and read all I can about the organic lifestyle, but I really liked you view on things. I’ll bookmark the site and subscribe to
    the feed!

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