Florida Mortgage Interest Rates

Interest Rate Quotes

Note: Due to the recent changes in Florida Mortgage Lender licensing laws, Metro Mortgage Company is temporarily suspending our lending activities in the state in order for us to re-organize under the new guidelines. The process is likely to take 60 to 90 days. We apologize for this interruption in our services and look forward to being back up and running very soon.


The following are average market rates available 09/03/2010 for the selected home loan programs.

30 Year Conventional Fixed Loan - 4.34%*

15 Year Conventional Fixed Loan - 3.86%*

5/1 Conventional Arm - 3.39%*


Mortgage Calculator

*Market Rate Data provided from FNMA/FHLMC and is for informational purposes only.

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. 2.75%). 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 2.74. Treasury yields are up big this morning. Traders have moved from the safe haven play to taking profits after the employment report. Investors bailed on the market to take advantage of the upward move in stocks. The stock market is up at the open and mortgage backed securities are mixed. Interest rates have adjusted accordingly.

The 30-Year Mortgage averaged 4.55% last week. For more information on interest rate trends, visit www.MBAA.org.

PRIME RATE: 3.25%
FED FUNDS RATE: 0.25%
DISCOUNT RATE: 0.75%
08/10/2010: The Federal Reserve left rates unchanged.

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In recent Mortgage Industry news:

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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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