We’re likely to see the rally move into this week as well, especially after a  60 Minutes interview with “Uncle” Ben Bernanke in which he pledged to save big banks from failure and that the recovery will likely begin later this year.  An interesting aside: This was the first interview with a sitting Federal Reserve Chairman in history.

Eyes on the Fed This Week

Wall Street will fix its focus on the Federal Reserve this week as it wraps up a two-day meeting Wednesday after which the Fed will issue its standard, post-meeting press release at 2:15 P.M.  No Fed Funds rate is expected.  However, the markets will surely watch Fed’s language for clues about the next phase of monetary policy.

As a rule, when the Fed hints that inflationary pressures may build, mortgage rates rise.  Perhaps as a sign of what’s to come, in the above interview, Bernanke alluded to inflation and the need to control it in the future.

Low Florida Mortgage Rates Still Attainable

Even with last week’s small increase, mortgage rates remain low and favorable for high-credit scoring borrowers.  We’re still in a volitlie market, so if you’re nervous about rates rising, it may be best to lock early in the week — before the Fed’s Wednesday announcement.

Apply for a Florida  Mortgage Today

Kevin Sandridge The Florida Mortgage Pro Signature Home Funding 410 Laurel Cove Way Winter Haven, FL 33884	Mobile: 863-604-3019 Fax: 888-496-0265 Email: kevin.s@sigfunding.com http://www.floridahomeloanspecialist.com
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