T-Bill’s Way Down – Why Not Florida Mortgage Rates?
by Snets ~ November 21st, 2008. Filed under: Blog.Fixed rates for Florida Mortgages have disconnected from 10 Year T-Bills. It’s not supposed to happen that way and Bernanke and homeowners and not pleased with this development. People with Florida mortgages are acutely aware of this widening spread and it is hampering the plans of those hoping to refinance into fixed rate mortgages. Ironically, those in ARM’s specifically tied to LIBOR are getting some relief. This is just a further example of lack of confidence in the Mortgage Backed Security market.
I just read a quote from Dave Donhoff at NO BULL MORTGAGE. He has this to say and it is especially relevant to Florida mortgage shoppers: “Any company that pays to advertise on Bankrate.Com (or other such listing services) and gives an honest quote, is likely throwing money away. Furthermore, if rates look too good to be true, they are.”
Bayside posts honest rates every day for Florida mortgages and if you would like a Good Faith Estimate as a comparison to what you are being quoted – do not hesitate to call us 800/886-6592.
