South Tampa Real Estate Report

South Tampa Real Estate Market Report | 8/04/24 - 8/10/24

Rates for a 30 year fixed mortgage are down almost .50% from this time last year but the Federal funds rate has remained unchanged. Many people don't understand the relationship between the Federal funds rate and mortgage interest rates. I found this article that explains the relationship in layman's terms. After you've digested your layer cake (you'll understand after you read the article), consider watching and/or reading The Big Short to gain a better understanding of how mortgage-backed securities work. I promise, it's easy end-of-summer reading/watching. Have a great week! 

Michael Palermo

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