What can the History of Tampa / Clearwater Mortgage Rates teach us?
So, if you’re looking for the explanation of why recent Tampa /Clearwater mortgage rates rose as suddenly one day as they fell the day prior, this is it. And, in hindsight, Tampa bay mortgage rate shoppers might have seen it coming, if only because we’ve seen the exact pattern 4 other times: • After the Fed’s “surprise” rate cut in January 2008 • After the Fannie Mae and Freddie Mac takeovers in September 2008 • After the Fed announced its first $500 in support in November 2008 • After the Fed zeroed out the Fed Funds Rate in December 2008 Sharp drops in mortgage rate, it seems, are followed by immediate bounce-backs. Unfortunately, not every would-be refinancing Clearwater home owner saw the increase coming. People that locked captured the lowest rates in 6 decades. Everyone else wishes they had. From day-to-day, we don’t know if Tampa mortgage rates will rise or fall. Nobody knows that. But, we do know that Tampa mortgage rates tend to follow patterns and we’ve seen the above pattern
