Clearwater Florida home buyers and sellers enjoying a beautiful sunny September day today may not even realize that the Federal Open Market Committee adjourns from its 6th scheduled meeting of the year, and 7th overall.

So even though you may not realize it, when they adjourn, Federal Reserve Chairman Ben Bernanke will release a formal statement to the market that will impact us here in Clearwater real estate market. In it, the Fed is expected to announce “no change” to the Fed Funds Rate – so what does that really mean for Clearwater Florida home buyers and sellers?

Comparing 30-year fixed mortgage rate to Fed Funds Rate since 1990

Currently, the Fed Funds Rate is within a target range of 0.000-0.250 percent. It’s been at this same level since December 2008. Note that the Feds Funds Rate is not “a mortgage rate” — nor is it a a consumer rate of any kind. The Fed Funds Rate is a rate that defines the cost of an overnight loan between banks. And, although the Fed Funds Rate has little direct consequence to everyday Clearwater Florida home owners, it is the basis for Prime Rate, the interest rate on which most consumer cards are based, plus many business loans, too.

Therefore, because the Fed Funds Rate won’t change today, neither will credit card rates. (I know many of us breath a sigh of relief when we hear that)

Tampa Mortgage rates, however, are a different story. Tampa Mortgage rates should change today — regardless of what the Fed does. It’s more about what the Fed says. In its statement, the Federal Reserve will highlight strengths and weaknesses in the economy, and threats to growth over the next few quarters.

Depending on how Wall Street interprets these remarks, mortgage rates may rise or fall. If the Fed’s comments signal better-than-expected growth, bond markets should lose and mortgage rates should rise. Conversely, if the Fed’s comments signal worse-than-expected growth, mortgage rates should fall. If you’re actively shopping for a mortgage, it may be prudent to lock your rate ahead of the Fed’s announcement today. The Fed adjourns at 2:15 PM ET. Call your loan officer to lock your rate. The Fed meets 8 times annually.

Call or email us today if you are thinking of selling your home or condo in Clearwater FL, Dunedin FL, Safety Harbor, Palm Harbor, Largo, Seminole, Tarpon Springs, Clearwater Beach FL, Belleair Beach, Indian Rocks Beach FL, Indian Shores, Redington Shores, North Redington Beach FL, Redington Beach, Madeira Beach, or Treasure Island FL.

Wondering what your Clearwater Home is actually worth today? Just call and ask us for a Market analysis for your house – in this dynamic market home values change day to day.

Thinking of buying while Tampa Mortgage rates are still low and home values are down?

Got any questions, just give us, your local Clearwater Real Estate Agents, a call or talk to your loan officer about locking your rate on the home or beach condo you want to buy.

We’re passionate about being your Clearwater real estate advocate. We’re committed to delivering Results daily based on Integrity, Knowledge & Experience – helping you find the perfect Clearwater FL homes for sale – just call and ask.

We’d like to be YOUR Clearwater Real Estate agents – specializing in luxury waterfront homes and condos! Call Cyndee -727.710.8035 or Jack – 727.710.8036

Warmly,
Cyndee and Jack Haydon
Charles Rutenberg Realty

Clearwater Real Estate Office
1545 S. Belcher Rd
Clearwater Florida 33764
727-710-8035 (Cyndee’s cell)
727-710-8036 (Jack’s cell)

We’d like to be YOUR Clearwater Real Estate agents – specializing in luxury waterfront homes and condos!

See What 20+ Clearwater Home buyers and sellers are saying in Clearwater Neighborhood videos

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2 Comments

  1. Hi Cyndee ~ What a nice comentary on Laurie, beautifully said. No doubt she contributed so much to so many, I’m also one of those…in addition Laurie’s ability to showcase the City of Long Beach, CA was monumental. Seems to me like the Chamber of Commerce should be sending royalities to her estate.

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