Florida Mortgage Trends

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The Federal Open Market Committee (FOMC) on March 20, 2019 released a statement that they left interest rates unchanged and will not being raising interest rates the rest of the year. 

This is great news for everyone buying or refinancing a home in 2019!  Rates have are currently the Best of the Year and if you are in the market to buy or refinance the window of opportunity is wide open!

Please call our team of mortgage experts to help you save on your next Florida home mortgage.  We are here 7 days a week at (321) 777-7277.  We wish you the best of 2019 has to offer! 
Posted by Scott Bray on March 21st, 2019 5:08 PM

As of the writing of this blog, the US Economy is all steam ahead and each month this year the economy is adding jobs to the labor force as well as controlling inflation to date.  To keep inflation in check, the FOMC (Federal Open Market Committee) has telegraphed that they plan to raise the Prime Rate (projected) a + .25% rise in December 2018.  Also they have telegraphed the desire to raise rates 3 or more times in 2019.  

Recently the Stock market has had a normal correction led by a correction in the strongest sector Tech.  This safe heaven within the stock market drop & with the rise of interest rates has shaken the Housing market.  

We feel the current rates are still in all time historic lows even with the rise in interest rates so far this year.  Buying a house is rewarding in many ways through ownership pride, mortgage interest tax deduction possibilities & other deductions that may be available to you.  

We feel that the stock market may move sideways for the next 3-6 months and believe the best opportunity is buying a home and locking into today's still low interest rates before the FOMC continues to raise them in the coming months and into 2019.

AmeriBest Mortgage continues to make mortgage lending easy & all Conventional Mortgages through Fannie Mae or Freddie Mac will have the appraisal cost reimbursed to all our clients at closing up to $525 in cost.  

Please call Scott or Donna at (321) 777-7277.  Our team looks forward to helping you buy or refinance a home anywhere in Florida.  
Posted in:General
Posted by Scott Bray on November 4th, 2018 8:21 PM

I predict the US Gov't through the Federal Open Market Committee (FOMC) will raise interest rates at least .25%.  They raised rates last year at this time in December of 2015 a .25% as well.  The economy is stronger by all recent economic reports and typically it shows stronger in the Holiday season which is the perfect time for the Gov't to raise interest rates.  Someone won't notice a shot of alcohol in our eggnog.  The shot will be welcome news by the banks industry to finally be able to see higher interest rates to earn more interest income.  This rise in interest rates will affect credit cards, auto loans, mortgage rates or any products offered by banks although most say the mortgage rates already have the .25% raise to come baked into the cake and the stock market doesn't seem to mind as they are going gangbusters every since Pres-elect Trump was elected.  

We have seen rates rise about .500% in 30 year fixed rates over the last month 11/9/2016 - 12/9/2016.  One of the most historic rise in rates in history.  Speaking of History, morgage interest rates are still among the lowest rates in the last few decades so please don't let this stop you from buying a home.  We at AmeriBest Mortgage, work daily to help you get into the homes of your dreams.  We can finance Conventional (Fannie Mae & Freddie Mac), FHA & VA loans.  All of our loans offer closing costs assistance and we have lower mortgage costs than the local competitors.  

We're here to answer all of your questions for free, call us at the office during business hours at (321) 777-7277 we look forward to making you a client for life.

For FREE daily commentary on the direction of mortgage rates, Click Here.    

Happy Holidays! & Happy New Year 2017!

Scott Bray
Branch Mgr. 
Posted by Scott Bray on December 11th, 2016 10:28 PM
On 4/19/2016, Fannie Mae's Chief Economist says he expects mortgage interest rates to stay low during 2016.  

Currently this year at AmeriBest Mortgage we have seen rates drop to local mortgage interest rate level not seen since November 2012.  If your in the hunt for a new home or refinance of a current home now would be the time to do it.  You may be able to get a lower interest rate than most people got on their mortgages in the last 3 years depending on the type of mortgage your get and credit scores, etc.

We're here to help you each step of the way at AmeriBest Mortgage.  Call us at (321) 777-7277 for a free consultation.  

Click Here to see where Rates are trending.  You can click on this daily for Free.
Posted in:General and tagged: 2016 interest rates
Posted by Scott Bray on April 22nd, 2016 2:19 PM


Rates Drop to Start 2016 with a Bang

With Stock market in turmoil a surprise has happened in the Home Interest rates available to home buyers and refinance candidates in home ownership.  Current Interest Rates are the lowest today than they have been in the last 3 months.  This month has set-up what will be a strong buying season in Florida that will start with the great weather in Brevard County in March of 2016.  We at AmeriBest Mortgage don't charge any Bank or Mortgage Broker fees saving our clients up to $1,600 in local competitors mortgage fees.  

So if your in the market for a new Home anywhere in Florida, call AmeriBest Mortgage today at (321) 777-7277!


US Home Purchases Rebound in 2015

U.S. home sales rebounded in December after new regulations had delayed the completion of purchases in November.  New Mortgage rules nationwide called TRID started and is designed to slow down the mortgage process for borrowers giving them more time to shop for a mortgage and review their closing costs days before the closing date.  Total sales sold in 2015 were the most in the last 9 years.   

The National Association of Realtors said recently that sales of existing homes climbed 14.7 percent last month to a seasonally adjusted annual rate of 5.46 million. Sales had previously plummeted as the industry adapted to new mortgage disclosure rules – a temporary downturn before delayed sales were finalized in December.

December’s rebound concluded a year that produced the highest annual sales total since 2006. Steady job growth and low mortgages drew more buyers into the market, causing both sales and prices to climb.

Americans bought roughly 5.26 million homes in 2015, a 6.5 percent increase over 2014. 

Posted by Scott Bray on February 4th, 2016 1:17 PM


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