Florida Mortgage Trends

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.