A meeting of The Federal Open Market Committee held today, and while any changes to short-term interest rates are light-years away, many have the question in their minds that if the Fed will further target long-term interest rates.

In Treasury yields an early June spike had the 10-year note touching 4 percent and conforming 30-year, zero-point fixed rates reaching up to 6 percent. In treasury approximately $1 trillion are left, GSE debt buybacks and mortgage-backed over the balance of 2009, now with this it become possible to stop mortgage rate from rising further.

But in the Mortgage Bankers Association Applications Survey Refinance Index from May 20 through June 17 of this year there has been a fall of 58 percent which shows that to stop the mortgage rates from rising further and to push mortgage rates down to such levels that generate a frenzy of refinancing and home buying activity are two different things. And there difference is too big than what we think.

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With the entire nation’s eyes on the real estate market, the analysts and the media these days are keeping a very close eye on how the mortgage and sales market is faring in every region of the country.

For the sixth consecutive month in February, home sales in Florida showed an upward trend, compared to the same period a year ago, according to the data released by the Florida Association of Realtors® (FAR). And what’s more is that the February figures outranked those of January even, in both home and condo sales.

It has been noted that 9,858 homes were sold statewide last month, compared to 8,181 in February 2008 – an increase of 20 percent. Even on a monthly comparison, February’s statewide sales soared by 16.7 percent, compared to January 2009.

As far as condos are concerned, according to Florida Realtors, a 15 percent gain has been recorded in condo sales. This reflects the continuing trend of higher sales of both existing homes and existing condos, compared to the figures of the same time period in 2008. A jump of 25.1 percent was recorded for statewide condo sales over the number of condos sold in January alone. Read the full story