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Tweet Florida Mortgage Update for the Week of February 13, 2012 Florida mortgage markets were mostly unchanged last week as Greece — once again — was front-of-mind for Wall Street investors. The nation-state is attempting to avoid a debt default, and has been attempting to avoid default since May 2010. Early in the week, Greece reached a deal with European Union leaders to secure additional financial aid. By Friday, however, the deal was in doubt, as the EU leaders declared that the Greek... Read Full Story

Tweet HARP 2.0 Provides Unlimited Loan to Value for Borrowers as well as Access to Fantastic Rates The government’s new, revamped HARP 2.0 program is 6 weeks from release. Homeowners in Florida and nationwide are gearing up to refinance. What is HARP 2.0? HARP is an acronym. It stands for Home Affordable Refinance Program. HARP is the government’s loan product for “underwater homeowners”. HARP makes current mortgage rates available to households which would otherwise be unable to... Read Full Story

Tweet Boost Your Credit Score to Get That Loan Approved Why It’s Important to Boost Your Credit Score Credit scores play a huge role in today’s Florida mortgage market — larger than at any time in recent history. Blame it on the high default rates of the last half-decade. Lenders are reserving their lowest rates for the customers most likely to make on-time repayments.  So if you want a low Florida mortgage rate, you need to boost your credit score . Mortgage rates are at an all... Read Full Story

Tweet Falling mortgage rates make owning a home more affordable. Mortgage rates are directly tied to monthly mortgage payment so as mortgage rates drop, so does the cost of home-ownership. It’s a money-saving time to buy a home in Orlando — or to refinance one. Mortgage rates have never been this low in history. According to Freddie Mac, last week, the average 30-year fixed rate mortgage fell to 3.87% nationwide for borrowers willing to pay an accompanying 0.8 discount points plus... Read Full Story

Tweet Florida Mortgage Rates Rise as Economy Shows Improvement Florida mortgage markets worsened last week as domestic job growth surprised Wall Street and the Eurozone moved yet one more step closer to reaching a lasting Greece sovereign debt solution. Conforming mortgage rates in Florida rose on the news, although you wouldn’t know it from looking at Freddie Mac’s weekly mortgage rate survey. Florida Mortgage Rates Bounce Up Post Freddie Mac Announcement According to Freddie Mac... Read Full Story

Tweet Five Year Florida Mortgage Loan Strangle Hold May Be Loosening Florida mortgage loans may now be a bit easier to get, thanks to banks loosening some of their underwriting guidelines. The Federal Reserve conducts a quarterly survey of its member banks and, last quarter, not a single responding bank reported having tightened its mortgage guidelines for prime borrowers. So, What’s a Florida Mortgage Prime Borrower? A “prime borrower” is defined as one with a well-documented... Read Full Story

Tweet All Time Low Florida Mortgage Rates May Increase with Improved Jobs Rate Numbers This week, once more, we find Florida mortgage rates are on a downward trajectory. Conforming mortgage rates have returned to near all-time lows. After Friday morning’s Non-Farm Payrolls report, however, those low rates may come to an end. It’s a risky time for Florida mortgage rate shoppers and potential home buyers and would-be refinancers to be without a locked rate. Why Florida Mortgage Rates... Read Full Story

Tweet Low Florida Mortgage Rates and Affordable Home Prices Boost Housing Market After 3 consecutive months of growth, the housing market appears to have eased a bit in December.  This, of course, is spurred on by low Florida mortgage rates and excellent deals on homes here in our state. According to the National Association of REALTORS®, December’s Pending Home Sales Index slipped 4 percent from the month prior. The index measures the number of homes under contract to sell nationwide... Read Full Story

Tweet Florida Mortgage Rates Fall with FOMC Statement Wednesday, the Federal Reserve’s Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent.  This means things should remain flat or even cause Florida mortgage rates to drop. The Fed Funds Rate has been near zero percent since December 2008. For the third consecutive month, the Fed Funds Rate vote was nearly unanimous. Just one FOMC member dissented in the 9-1... Read Full Story

Tweet Florida Mortgage Rate Increase May Be Ahead The Federal Open Market Committee adjourns from a scheduled 2-day meeting today, its first of  8 scheduled meetings this year .  Depending on how things read, Florida mortgage rates could rise. FOMC Votes Influence Wall Street. Wall Street Influences Florida Mortgage Rates The FOMC is a designated, rotating, 12-person committee within the Federal Reserve, led by Federal Reserve Chairman Ben Bernanke. Members of the FOMC sub-committee... Read Full Story