Clearwater Home Buyers get more Good News

Clearwater Florida – Everything going on at the national level also effects people buying real estate in Clearwater Florida – and right now especially Clearwater first-time home buyers. Tuesday the American Recovery and Reinvestment Act of 2009 was signed into law in Denver, Colorado. Also Tuesday, stock markets fell near their November 2008 lows.

The two moves are related.

With each new stimulus; with each potential jumpstart of the economy, Wall Street questions whether the federal push will be enough to make an impact.

Traders ended undecided on that issue today, but resolute in something else — that whatever change the stimulus bill will bring, it’s not going to come fast enough to help.

The sell-off in equities was a boon to Clearwater home buyers. For the first time since early-December, mortgage markets gave a sustained rally, extending gains from the 8:30 AM market open through the 4:00 PM market close.

Conforming Tampa mortgage rates were down on the day. Longer-term, though, this pattern won’t likely last. Not only will the stock market regain its balance and draw dollars back, but, more importantly, the stimulus bill contained verbiage increasing the national debt ceiling by 53.4 percent.

Government debt is often financed by printing more money and this leads to inflation, the enemy of mortgage rates.

For now, the stimulus plan is helping Clearwater Florida home buyers because it’s helping the Tampa mortgage markets, albeit indirectly. If you’re shopping for home loan, consider locking quickly. When markets flip — and they always do — it figures to be sudden.

Thinking of Buying or Selling Property in Clearwater Florida – We can help

If you have been thinking about buying or selling a home in the Clearwater St Petersburg Tampa area…

Contact us for a FREE quote and to find out your Tampa Mortgage options and you can search all Tampa St Petersburg and Clearwater homes for sale right now..

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

Copyright © 2009 Jack and Cyndee Haydon, Clearwater REALTORS and your Clearwater Real Estate Consultants specializing in Clearwater St Petersburg Tampa Real Estate and may not be copied, reproduced, distributed, transmitted, displayed or published.

(Image courtesy: Recovery.gov)

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4 Comments

  1. My view on this is it will help some and also hurt some, we will just have to wait and see. The rich get richer and the poor get poorer.
    ….Tidal, as far as the home loans go i agree if a person could not afford the home with the amount of money they make then they should not have been given the loan. But what about the people who had a steady job with a good income when they bought their home only to have the company they work for go belly up, or as many Americans be laid off or fired. My husband and his entire crew were laid off/fired due to lack of work with no recall date. He has been actively looking for another job for about 6 months with no luck. I am one of the lucky ones whos’ home is already paid for, but we went from about $4,500 a month take home pay to $1,280 unemployment a month. If we still had a house payment I believe we would not be able to make that payment as many familys in this country. So I ask what about the people who were making a good living? Say sorry you can’t make your payment anymore and we are not going to bail out go live on the street with your wife and kids.NO. We as a country need to step in and take care of our people and if possible help them keep their homes.

    Regards,
    Michael McLaughlin, Cary real estate

  2. Great info, Cyndee! Rates on Conventional and FHA loans are phenomenal right now. This said, I’ve counseled folks of late to save up a bit more before moving into a loan – as they’d be hard pressed if they hit even the most minor financial “bump in the road.”

    Responsibility for our fellow Americans starts with being honest with them. As a mortgage broker, I may lose today’s business, but I’m sure to gain tomorrow’s!

  3. I am one of the lucky ones whos’ home is already paid for, but we went from about $4,500 a month take home pay to $1,280 unemployment a month.

  4. I agree with Cary real estate …..The rich get richer and the poor get poorer. The Clearwater Florida Home BStimulus Package has definitely changed lives and helped people etch a new beginning in this recession

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