On the outset of 2009, the financial pundits made a good number of predictions about the U.S. economy and what to look for in 2009.
- Some suggested that housing would rise
- Others suggested that housing would fall
- Some suggested that mortgage rates would rise
- Others said mortgage rates would fall
News Flash: Not one of them predicted just how big the government’s stimulus package would be.
Mid Year 2009 Review
We’re now at June 30th, marking the year’s official midway point – time to remember that people are a whole heck of a lot better at interpreting the financial arena’s past than they are at predicting its future.
Economists can make educated guesses about the future, but at the end of the day – a guess is a guess.
It sort of reminds me of watching Tom Terry, Chief Meteorologist over at Orlando’s News Channel WFTV (ABC Affiliate). Tom – who is great at his job, by the way, can look at the data and say it’s going to rain next week, but his forecast can never be 100% accurate.
Thus far through the first part of 2009, Florida mortgage rates have moved up and down, credit availability has been higher and lower, and home prices have varied widely from neighborhood to neighborhood.
Funny, I don’t recall hearing about this sort of volatility from the pundits.
We’ve another 6 months to go until 2010, and there’s no reason to expect the current Florida mortgage and housing trends to change.
The world of the day – kids – is unpredictable, and you can “predict” hearing more of this word as we make it through the coming months. Therefore, consider making your personal finance decisions based on the information at hand today instead of on an educated guess about the future.
After all, the weatherman’s been wrong before.
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!
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