Florida mortgage markets improved last week as we received little news of note from economic centers and the Fed’s report was pretty tame, all told.
Apart from some activity among the trading floor, 3 key events helped shape mortgage rate activity last week:
- Housing data suggested improvement
- Jobless data showed softness
- The Fed reported that growth appears on-track
Working together, these factors pushed Florida mortgage rates lower– for just the second time in the last 8 weeks.
Looking ahead to this week’s holiday-shortened trading sessions
Information abounds this week and a ton of information is set to release ahead of this holiday-shortened week. As always, we’ll be peering into the crystal ball to see whether mortgage rates will be getting better or worse. Look for reports to start rolling on tomorrow through Thursday. We’ll see information from the following sources:
- Tuesday: Consumer Confidence and Case-Shiller Index data
- Wednesday: Crude Inventory totals come in
- Thursday: June’s Jobs Report hits
Tuesday’s Information – Consumer Confidence and Home Price Information
The Consumer Confidence and Case-Shiller Index data should arrive around 9:00 AM ET. The Case-Shiller Index provides home price measurement information and always gets a ton of press. Strength in either Consumer Confidence or the Case-Shiller information will push Florida mortgage rates higher. Weakness in either will push them lower.
Wednesday’s News – The Crude Oil Inventory Report
Though I don’t normally watch the Crude Inventory report too closely, I do watch the gas prices at the local pumps with ongoing interest.
Gas prices dropped a bit last week, and information showing rising oil supplies could mean even lower gas prices ahead. This is anti-inflation and a good sign for Florida mortgage rates.
Thursday’s Information – June’s Jobs Report
Finally, Thursday brings us June’s jobs report. This report always gets mortgage rates moving — either up or down. With trading volume low by Thursday, mortgage rates should move on this Jobs report more than they do normally.
As always, if you’re in the market for a Florida mortgage, be ready to lock at a moment’s notice this week. Mortgage rates continue to be volatile and the holiday-shortened week is going to make this as true as ever. If you see Florida mortgage rates trending in your direction, consider locking one in.
I hope you found this post useful! As always, if you or anyone you know is in need of a local Florida mortgage broker, I’m your guy. Call me at 863-604-3019 or apply online for your Florida mortgage. We’ll keep you posted and let you know when it’s time to pull the trigger!
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Great information on Florida mortgage rates, as usual, Kevin. I am sure that your readers really appreciate your constant and easy to read updates. The Florida mortgage rate picture seems to be shifting so quickly. It’s nice to know that we can always come here to your blog for the latest information.
Petra Norris´s last blog ..Lakeland Florida – A Great Place to Live
Good insights… Now a few weeks later your post has proven to be dead on. It is sure to be a bumpy ride but hopefully in the end rates will stay need these historic lows.
Kris´s last blog ..2nd mortgage calculator