Florida Mortgage Interest Rates

Interest Rate Quotes

The following interest rates are available 11/06/2009 for the selected Florida home loan programs and are offered by Metro Mortgage Company of SW Florida, Inc.

Please call to obtain actual rate quotes - 888-617-3674. The following are examples of rates available at today's market opening only.

30 Year Conventional Loan - 4.75% + 1 Point

FHA/VA 30 Year Loan - 4.875% + 1 Point

15 Year Fixed Loan - 4.25% + 1 Point

5/1 Arm 3.50% + 1 Point

Jumbo 5/1 Arm 4.75% + 1 Point

All Rate Quotes Subject to Loan Amount, FICO Scores, LTV Ratio Adjustments and Program Availability
and May Change Without Notice. You Must Call to Confirm Rate Examples: 888-617-3674.


Mortgage Calculator

The break point between a Conventional loan versus a Jumbo loan amount is currently $417,000. In addition, maximum loan amounts for government loans are designated on a county by county basis.

New FHA and HUD County Conforming Loan Limits for 2009

We have many other home loan programs and interest rates available. We'll provide you with a good faith estimate for any program that fits your needs. Just contact us at Metro Mortgage Company for more information.

Understanding Home Loan Rates

Mortgage interest rates change daily, Monday through Friday, and may change during the day if market events justify their movement. Although interest rates are tied directly to the mortgage backed securities market, a easy indicator for their movement is the 10-Year Treasury bond. The bond information is readily available on cable news programs and in daily newspapers. Usually what you will see posted is the bond yield in a percentage form (i.e. 3.75%). When the yield goes up, rates go up and vice versa. While interest rate movements are not strictly tied to such movements in the bond, you can use it as an indicator of what also may be happening to home loan rates.

Besides numerous outside influences which can effect the mortgage market just like the stock market (i.e. world events), there are other direct influences which may make interest rates change. We are providing examples of these weekly influences below and you can follow their results here.

Economic News - Market Update

The 10-Year Treasury Bond is at 3.49%. Treasury yields are down this morning as traders and investors responded positively to the poor employment report. Stocks are down at the open and mortgage backed securities remain mixed. Interest rates have adjusted accordingly.

The 30-Year Mortgage averaged 4.97% last week. For more information on interest rate trends, visit www.MBAA.org.

PRIME RATE: 3.25%
FED FUNDS RATE: 0.25%
DISCOUNT RATE: 0.50%
9/23/2009: FOMC Federal Funds and Discount Rates Both Left Unchanged.

Mortgage Industry News

In recent Mortgage Industry news:

More Florida Mortgage Loan Information

For information on other Florida home loan related topics, please use our Florida Mortgage Library or feel free to contact us directly. We'll be glad to help.

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