The Florida  mortgage rate(30 yr FRM)  continues to sit  at 4.94, with an average 0.7 points, according to results released by Freddie Mac, for the   week ending March 18,  2010. The national mortgage  rate also remains virtually unchanged  at 4.96.

 *Fees and Points are the total charged by the lender at settlement. One point equals one percent of the loan amount. Primary Mortgage Market Survey® data provided by Freddie Mac

Frank Nothaft, Freddie Mac vice president and chief economist stated that mortgage rates were unaltered amid the turmoil of  recent housing data.

• New construction slowed by 5.9 percent in February to 575,000 homes 
• Home-builder confidence unexpectedly dipped in March according to the NAHB/Wells Fargo Housing Market Index

Lastly Nothaft stated that house prices were starting to stabilize and even rise. According to  the Federal Reserve Board  homeowners on aggregate are slowly building back equity in their homes. 

1.   Homeowners lost almost $7.9 trillion in home equity since the end of 2006
2.  Homeowners regained almost $1.1 trillion over the past three quarters ending in 2009

US Weekly Currency Interbank Exchange Rates 7/01/ 2009

  Our currency expert Charles Purdy stated that one of the explanations behind the US dollar’s comeback against sterling was the whispers flying about, that the Federal Reserve would raise the discount interest rate (the rate at which banks lend to each other).

This  happened several weeks ago and prompted high levels of volatility. The Fed opted not to comment on the rumour. Apart from this,

• inflation data showed no change in prices month on month
• unemployment figures came in more or less as expected.