Mortgage giant, Freddie Mac collects mortgage rates, on a weekly basis, from lenders across the nation. Last weeks figures hit a high not seen in a couple months, setting the average rates at 5.05%! As mortgage rates are tied in closely with long-term government debt yields, the rates are rising along with the yields.

A FED program constructed to purchase $1.25 trillion in mortgage backed securities has been keeping the rates on 30 year mortgages at around 5% during 2009; however the program is set to expire in the spring of 2010. Florida's median sales price for existing homes was $139,000 last month, according to the National Association of Realtors (NAR).

With the extremely low home prices, the new expansion and extension of the tax credit and the low mortgage rates, purchasing your Dream home in Florida doesn't have to be a dream anymore!