Well folks, we’ve seen a rather steep decline in Winter Haven mortgage rates over the past several months and for a while there, it seemed like the downward trend may just keep going.
But as we know all too well… good things do eventually come to an end, or are at least interrupted by tiny reality checks now and again.
Our most recent look at the mortgage rates here in Winter Haven took us on a nice little 11 week ride – with rates improving week to week. However, mortgage rates finally moved a bit higher last week, according to Freddie Mac’s weekly mortgage rate survey. And that’s not all – according to this survey, Fannie and Freddie’s mandatory mortgage fees rose last week as well.
Unfortunately, the bad news for Winter Haven, Florida mortgage rate shoppers doesn’t stop there.
See, Freddie Mac’s rate survey is conducted on Tuesday but its reports aren’t released until Thursday. This means that the published data doesn’t even take into account the previous 48 hours of activity in which mortgage rates and fees have risen higher.
When we compare current mortgage rates to those posted last week, 30-year fixed conforming mortgage rates are up an average of 0.16% across the nation. On a $200,000 home loan, this translates into about $20 extra per month for your mortgage payment, or $7,055 over the life of your 30-year loan.
Once again, folks… I’m no alarmist. I don’t think we’ve reached the absolute end of low mortgage rates here in Winter Haven. However, the realist in me sees the numbers for what they are and wants you to know that now may very well be a good time to get off the fence.
An extra $20.00 per month may not seem like a lot – but that $7,055 is a big number, even if it’s stretched over 30 years!
If you’re in the market for a home loan or refinance here in Winter Haven, consider locking in the best rate you can today. I can help. Give me a call at 863-604-3019 or email me and we’ll get you taken care of.
Click Here to Apply for a Florida Mortgage
|
Kevin Sandridge
The Florida Home Loan Specialist
Signature Home Funding
410 Laurel Cove Way
Winter Haven, FL 33884 |
Mobile: 863-604-3019
Fax: 888-496-0265
kevin.s@sigfunding.com
 |
|
Building effective relationships one step at a time…
          |
|
Catch More Florida Mortgage News and Insights here:
My FHA Mortgage Blog | Florida Homes and Loan Report
I hope you found this post useful! As always, if you or anyone you know is in need of a local Florida mortgage loan originator, I’m your guy. Call me at 888-859-7418 or apply online for your Florida mortgage. We’ll keep you posted and let you know when it’s time to pull the trigger!
No related posts.
Of course this is a nice news for people who was suffering from high mortgage. I hope the Obama government will do the best to wash out this long economic recession as there very first preference. My best wishes to all American citizens for a better future and have nice living standards.
such posts are worth reading as well as add value to visit and have a digg. My sincere appreciations for the subject you selected, which is little hard to handle or should have expert knowledge…. best wishes.
Sherin
The Money Maniac blogger
http://investinternals.blogspot.com
Hope you’re getting some business down there. I’m in NC and about to do a refi at 4.675%
Not much is moving but our appraiser reports she’s been a bit busier the last week or so.