Clearwater Florida Real Estate Tampa Homes

Tampa Mortgage Rates Report: Fed Cuts To Prompt Lower Mortgage Rates - Will Home Buyers benefit in November?

Will Feds Cut rate cut help Clearwater home buyers get lower Tampa Mortgages in November?

Tampa Florida - Brian Brady, America’s #1 Mortgage Broker, always keeps his pulse on the mortgage market for us. Today he shared how the latest Fed Cuts will effect those planning to buy Clearwater Tampa Homes. Today that “we analyze mortgage rates by examining the mortgage-backed securities market and its reaction to economic data and events. Today, the Federal Reserve cut the Fed Funds rate to an historical low of 1%:

The Fed funds rate target is now 1%, the lowest level in more than four years. In announcing its decision, the Federal Open Market Committee cited a drop in spending by consumers and businesses, and predicted that consumption may slow further due to tighter lending standards.

“The pace of economic activity appears to have slowed markedly,” the FOMC said in a statement, “owing importantly to a decline in consumer expenditures.”

Why’s the economy in the tank? You just aren’t spending enough money, Joe the Plumber. Of course, you can’t borrow any either so you’re hesitant about spending. Hence, the Fed cut in rate. Normally, a Fed cut should be followed by a RISE in mortgage rates but it looks like the mortgage-backed securities market anticipated the cut a week ago.

Let’s take a look the crystal ball (market chart):

See what’s happening here? Two weeks ago, we had a six day BIG drop, which caused rates to rise from 5.875% to 6.5%. That drop was followed by a 5 day rally, which brought rates back down to 5.875%. Then, we had a six day BIG drop, driving mortgage rates back up to 6.5% (today)…

…and I think the market overreacted which means I think we’ll see lower mortgage rates into the beginning of November.

What’s this mean for those buying a Home on Tampa Home Mortgages?

This is the kind of volatility we’ve come to expect. Tampa Mortgage rates should drop to 6.25%, pause, then drop again to the 6% level or below. No guarantees but November closings should get a peek at 6% or better rates soon”

Contact us for a FREE quote and to find out your Tampa Home Mortgage options or you can search all Tampa homes for sale.

Originally posted on Millionaire Real Estate Lender by Brian Brady, America’s #1 Mortgage Broker

Call Us Today at (727) 710-8036 to hear more about how we can help you!

Copyright © 2008 Jack and Cyndee Haydon, Clearwater REALTORS and your Clearwater Real Estate Consultants specializing in Clearwater Tampa Real Estate and may not be copied, reproduced, distributed, transmitted, displayed or published.

Tampa Mortgage News: Tampa Mortgage Rates Report: October 27, 2008

Tampa Mortgage - Home Loan Rates Jumped

Tampa Florida - Friday, Tampa mortgage rates jumped from 5.875% to 6.25% as mortgage-backed securities traders joined the world wide sell-off. Global stock markets plunged Friday and the Asian markets were weak for Monday. Investors world wide don’t want to be invested in ANYTHING.

When the world panics, we FLOAT mortgage rates. So, roll the projectors! The movie “Float Club” is playing all week.

Interestingly enough, gold isn’t skyrocketing in price. Long held as a “safe haven” during times of turmoil, investors are opting to hold their portfolios in cash instead:

Bullion is down 15 percent this month as the dollar climbed to a two-year high against the euro and the Standard & Poor’s 500 Index headed for its steepest monthly loss since 1938.

`We’re seeing some consolidation in the market today as investors pause for breath following the roller-coaster we had last week,” Zhu Lv, research manager at Shanghai Tonglian Futures Co., said from Shanghai today.

Gold for immediate delivery gained as much as 1.7 percent to $746.91 an ounce, and traded at $735.33 at 10:29 a.m. in Singapore. The metal fell below $700 on Oct. 24. Silver for immediate delivery was up 1 percent at $9.4575 an ounce.

Gold still benefits from its safe haven properties, although these days, more and more are choosing to hold just cash instead, so it won’t be surprising to see gold below $700 again,” said Zhu.

What’s this mean if you’re in the Market for a Tampa Mortgage?

What’s that mean to home buyers or property investors looking to get a home loan or mortgage in the Tampa Bay area? It means that while investors are cautious, they aren’t completely terrified and that bodes well for mortgage-backed securities. When investors buy mortgage-backed securities, mortgage rates drop; that’s what we think will happen in the next 7-10 days.

I cautioned borrowers to lock in all October closings last week when mortgage rates dipped below 6%. That opportunity had a short-lived window. Like all panics, reason eventually prevails. Central banks world wide are slashing interest rates to avoid an economic recession. This make US dollar denominated investments, especially mortgage-backed securities more attractive.

Hold out for a Tampa mortgage rate below 6% if you’re closing in November. Contact us for a FREE quote and to find out your Tampa Home Mortgage Options

Originally posted on Millionaire Real Estate Lender by Brian Brady, America’s #1 Mortgage Broker

Call us Today at (727) 710-8036 to hear more about how we can help you!

Copyright © 2008 Jack and Cyndee Haydon, Clearwater REALTORS and your Clearwater Real Estate Consultants specializing in Tampa Bay Real Estate and may not be copied, reproduced, distributed, transmitted, displayed or published.

Wall Springs Park - another great Pinellas County Park

Pinellas County Parks, Green Space and Fun Things to Do

Palm Harbor Florida - Recently my family along with some friends took our kids to Wall Springs Park for the day. It’s a great place to hike, bike, fish, bird watch, relax and just have a great time. This is one of Pinellas County’s best kept secrets just of Alt 19 before you get to Tarpon Springs. It extends out to the coast through the thick mangroves that offer a real look at Natural Florida.

The Park is also located along the Pinellas Trail. I took quite a few pictures to give you a sneek peak at this special place - however there’s nothing like seeing it in person. Pinellas County acquired Wall Springs in 1988 with the initial purchase of 63 acres which included the Spring and surrounding area - Here’s an up-close look at Wall Springs Park.

Wall Springs Park - Quite a Local History

In 1927 the Wall family sold it to the Davis family that changed the name from Wall Springs to Health Springs - where they marketed and extolled the health benefits of these waters. Mr. Harry Davis also spread the myth that Spanish explorer Ponce De Leon discovered this spring.

Mr. Davis eventually sold the property to the Cullen family of Palm Harbor in 1949. The Cullen family changed the name back to Wall Springs and operated it as a commercial recreational facility. They added many amenities like horseshoes, volleyball, hiking paths, picnic shelters and more.

Back in the 1950’s this Spring was the site of a freshwater beach where tourists enjoyed lounging and bathing in these pristine waters.

Eventually in 1966 the Cullen family closed the facility due to high insurance premiums and liabilities. which left the door open for Pinellas County to acquire Wall Springs in 1988.

August 20, 2005 the park was officially opened to the public through the use of Penny for Pinellas taxes - after developing fishing piers, observation decks, playground and restrooms for visitors to enjoy this piece of Pinellas Paradise.

If you are looking for information on buying Clearwater Homes for Sale give me a call at (727) 710-8035 - It’s a great place to live with lots of green space and great things to do.