What’s the Future of Florida Mortgage Rates?

Let’s listen in to a series of mortgage experts as they gauge the state of Florida mortgage rates over the next 30 to 45 days: Will rates rise, fall or remain relatively unchanged?

“Recent economic numbers have suggested a bit of strength. The Beige Book, which shows economic information from each district, demonstrated near-universal positive numbers across the board and producer prices, while sometimes volatile, show producers had the ability to nudge prices higher, showing a strong number two months in a row.

“Rates have traded higher on the news and show the ability to run higher from here if we don’t rise back above technical support levels. I expect rates to rise a bit from here, though not dramatically. Now more than ever, you need to have a Florida mortgage loan professional with his or her finger on the trigger to preserve your best rate.”
- Jim Sahnger, mortgage consultant, Palm Beach Financial Network, Stuart, Fla.
RATE VOTE: Up

“Sentiment clearly is that the economy is doing well. However rates are more about inflation than anything else and the release of PPI andCPI on Jan. 17 and Jan. 18 will set the trend for the next couple of weeks.

“The other event this month is a cosmic conjuncture on Jan. 30 and Jan. 31. The FOMC meets those two days and first release of fourth quarter GDP is on Jan. 31. If you want low rates, hope for a weak GDP.
- Dick Lepre, senior loan officer, Residential Pacific Mortgage, San Francisco
RATE VOTE: Unchanged

“Based on the current economic news, I believe the Fed’s position is wait-and-see mode. Mortgage rates should remain at current levels with the possibility of lower interest rates in the late first quarter to early second quarter.”
- JR Diaz, vice president, Statewide Bancorp, Rancho Cucamonga, Calif.
RATE VOTE: Unchanged

“With inflation remaining the Fed’s focal point, any impetus for a decline in [Florida mortgage ]rates is hard to find.”
- Greg McBride, senior financial analyst, Bankrate.com
RATE VOTE: Unchanged