Rates finally moved downward on the proposed government purchase of $600 billion in “good” mortgage debt.  It seems that action by the Treasury and the Fed have finally had a positive effect on the mortgage market.  The government has been trying to spur credit markets for months.  The biggest of these markets is the mortgage/real estate market.  Will lower rates, combined with lower home prices and lower energy costs combine to increase consumer confidence?  That remains to be seen.  I think that we’ll have to see unemployment come down before people really feel like we’re working through this crisis.  People need to feel like their jobs are secure before they’ll really jump back into the market.  Yet even with all of the bad news as relates to real estate and home sales, there seems to be a slight rebound occuring in the Florida market.  As states in the northeast face down this financial crisis with tax increases of every variety, Florida with it’s “lower” property taxes and no state income tax makes an attractive option.  It will be very interesting to see where things go in the next couple of months.  Cautious optimism is the soup of the day.  

If you have equity in your home, you’re sitting on an adjustable rate mortgage, or you have a rate that’s around a point higher than what we’re advertising, now might be the time to think about refinancing.  Call us today and we’ll discuss your Florida mortgage options.