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Broward FHA Mortgage rates hit record low

Broward FHA Mortgage rates hit record low. Will Broward buyers take the plunge?

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Broward County FHA mortgage Rates for 30-year mortgages broke another record for the week ending today, dropping to an average 4.27% from 4.32% a week ago, according to Freddie Mac. That marks the lowest rate since 1971, when the mortgage-finance giant started tracking such data. The Broward FHA mortgage rates sank far below last year's 4.87%.Similarly, 15-year fixed-rate loans tumbled, to an average

3.72%, down from 3.75% last week. Does that mean Broward county Florida home buyers will finally head back to the Broward housing market? Probably not in a significant way, experts say, mainly because the weak jobs market and fears of a still

economy will continue to keep them on the sidelines. The jobless rate currently is at 9.6%. And qualifying for a loan even if your ducks are lined up -- still is a challenge with so many people out of work..

So far, low rates have barely spurred Broward home seekers searching Broward Homes For sale.

"Broward homes Buyers don't want to jump into the cold water right now," says G.U. Krueger, an economist and president

of HousingEcon.com in Broward County Florida. "It looks risky, prices might drop again, and the general feeling about the future of the country isn't good at this point."

Broward home buyers also are in a bad mood, says Krueger.

"When consumers are cranky, they don't buy. But they will again when jobs are growing, the economy is improving, confidence goes up, and they stop hearing about that pesky double-dip recession."

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