Thinking of Moving Up or Listing Your Home?

March 10, 2017

NEW YORK – March 9, 2017 – Borrowers are getting spooked by rising mortgage rates and, as a result, rushing to lock in rates before any further increases. That, in turn, is pushing mortgage application volume higher – increasing a seasonally adjusted 3.3 percent week over week, the Mortgage Bankers Association reported Wednesday.

More buyers are also turning to adjustable-rate mortgages (ARMs) to try to get more savings in their monthly payments too.

“Mortgage rates increased last week as remarks by several key Federal Reserve officials strongly signaled a March rate increase,” says Joel Kan, an MBA economist. “This was further supported by a few solid economic data releases, including GDP, inflation and manufacturing gauges.”

The 30-year fixed-rate mortgage increased to 4.36 percent from 4.30 percent the previous week, the MBA reports; and the share of ARMs reached its highest level of mortgage applications since 2014. The average loan size for purchase applications also reached a survey high of $313,000.

Refinance volume was up 5 percent last week. Applications for home purchases rose 2 percent higher for the week and, and they’re about 4 percent higher than a year ago.

The MBA says mortgage volume remains 18 percent lower compared to the same week a year ago. Volume is mostly lower from a year ago due to a significant decrease in refinance applications from a year ago when interest rates were lower. Refinance volume is down 34 percent annually.

Source: “Borrowers Rush to Beat Rising Rates, Pushing Mortgage Volume 3.3% Higher,” CNBC (March 8, 2017)

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Enjoy our “Christmas in Florida: The Mashup” video

December 21, 2013

Hot cocoa? Snow angels? Chestnuts roasting on an open fire?

Overrated!

While your Northern friends and family can brag about how pretty the snow looks on Christmas morning, we Floridians understand: It’s just better down here.

After rushing downstairs to open presents on Dec. 25, we can actually enjoy that new set of golf clubs, that new bicycle and even that new surfboard on Christmas morning.

The holiday season in Florida is just different. We decorate palm trees, sip mojitos by the pool and sometimes blast the air conditioning because it’s still 85 degrees outside.

To celebrate how the Sunshine State does the holiday, view the video the Orlando Sentinel put together with a few of their colleagues ~ a tribute to Christmas in Florida. Central Florida notables in the video include Orlando Mayor Buddy Dyer, Fox 35’s Amy Kaufeldt and Appliance Direct TV star Sam Pak.

Click here to watch the “Christmas in Florida” music video, and let us know what makes the holidays so much better in Florida.

os-christmas-in-florida

And be sure to send the video to your friends and family who live in the ice and snow. It might just warm up their day.

REF: December 18, 2013 Orlando Sentinal, Jon Busdeker