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Edgar DeJesus

Florida Home Mortgage Market Guide

Monday, April 22, 2013 - Article by: Edgar DeJesus - The DeJesus Group / ABC Lending Solutions, Inc. - Message

Last week Frank Nothaft, vice president and chief economist at Freddie Mac was quoted with "Mortgage rates nudged lower this week as consumer spending showed signs of weakness. Retail sales contracted for the second time in three months, falling 0.4 percent in March. In addition, the University of Michigan reported their Consumer Sentiment Index dropped 6.3 points in April to settle at 72.3, its lowest level since July. The April reading snapped a streak of three consecutive gains."

Friday will bring the biggest economic report this week with the release of first quarter GDP, the broadest measure of economic growth. Prior to that that, Existing Home Sales will come out on Monday and New Home Sales data is expected on Tuesday. Durable Orders, another gauge of economic growth, will be available on Wednesday and Consumer Sentiment will finish up the week. There will also be Treasury auctions taking place on Tuesday, Wednesday, and Thursday.

With Florida mortgage rates still at very low levels, the Florida housing market is beginning to heat up. Now is the best time to meet with your Florida mortgage professional to discuss a mortgage solution to meet your financial goals.

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