Florida Mortgage Trends

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.