FloridaHomes Prediction: GettingBack on Track
Despite the headline news coverage of turmoil in themortgage market, mortgage rates have actually been falling for borrowers whotake out prime conforming loans.
Per The national association of REALTORS: Despite theheadline news coverage of turmoil in the mortgage market, mortgage rates haveactually been falling for borrowers who take out prime conforming loans
Because these borrowers account for the majority of homebuyers, affordability conditions for most buyers have improved. FHA loans – thetraditional financing vehicle for low-and-moderate income households – havealso begun to build market interest and momentum. FHA loans offer veryattractive rates nearly comparable to those of conforming loan rates and savehomeowners a bundle – about $180,000 in lower interest payments over a 30-yearloan cycle compared to high-interest rate subprime loans. A near-certainlegislative change that will allow higher FHA loan limits in high cost areaswill further free up the mortgage market to offer safer alternative products(i.e., FHA loans) and away from subprime loans.
Big Pine Key FloridaSeptember 23rd, 2007 – Per Florida Keys and Summerland Key REALTOR, AbbyOglesbee: The fact that Florida isseeing even more people headed our way (over 1000 per day) This is potentiallygreat news for our future residents.
When asked if this could haveany direct effect on Florida Keys Real Estate, Abby also remarked: Withbuilders cutting back, inventory will fall. If you add that to the fact that weare seeing increased pressure for homes due to tourist related job creation andalso the fact that baby boomers still want their piece of Paradise-yes it hasto help.
About Abby Oglesbee
Abby is a Top producing Real Estate agent and the owner of a Florida Keyswebsite located at www.yourkeystoparadise.comdesigned specifically to help people relocating to the lower Florida Keys andthe Key West area.
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