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Mortgage Rates Dip

Posted on September 27, 2013

iStock_000018477573MediumIf you’ve been thinking of settling into a new home in Northwest Florida sometime soon, now may be the time to contact your lender. Mortgage rates recently saw a small dip.

Due to concerns over the recovery of the economy, the mortgage rates recently decreased from 4.57 percent to 4.50 percent. While it does not feel like much of a dip, every little bit helps and, considering the high rate of increase that has been seen in the last few months, this small amount may be worth locking in your rate. The dip was caused by a slow down in consumer spending. August numbers were half that of July. Couple with mixed job data, the bond-buying program has been extended through mid-December by the Federal Reserve. Mortgage rates previously spiked due to speculation this program would be eliminated.

If you have been waiting for an opportunity to purchase real estate in Fort Walton Beach or surrounding communities, now may be the time. Contact us at Brad Shoults Real Estate to get started today.


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