As was expected with the recent increase in mortgage rates, home buying has slowed 3% from last week according to the Mortgage Bankers Association. Those looking to refinance their mortgage also fell 3% from last week’s numbers. Despite the decrease in home buying, the housing market is still seen as in recovery mode as the purchasing rate is much higher than it was last year at this time.
The Florida housing market, which was one of the hardest hit during the financial crisis a few years ago, is recovering very well in fact. The home price index for Palm Beach, Broward and Miami-Dade are 13% higher than they were last year. It’s always a good thing for homeowners when their home value goes up. Higher home prices and rising interest rates make it seem as though home buying will continue to decline, but that might not be the case. The housing market is the strongest it’s been in a while so it’s unlikely that people will stop buying homes, particularly when you can get a great mortgage loan in Boca Raton, FL from a company like Ace Mortgage Loan Corporation.
When it comes to securing a home loan, working with an experienced mortgage company can make all the difference in the world. Nobody has the time or energy to effectively research the best mortgage loan for their particular situation, so why not let a mortgage loan expert help you out? At Ace Mortgage Loan Corporation, we stay on top of the constantly changing housing market landscape so you don’t have to. We can assess your situation and help you find the right loan to meet your needs.
Ace Mortgage Loan Corporation serves those looking for home loans in Boca Raton, Delray Beach, Pompano Beach, Plantation, Coconut Creek and Davie.
We know all about every kind of loan, including:
- FHA & Harp loans
- Fixed-rate mortgages
- Adjustable-rate mortgages
- Reverse mortgages
- VA home loans
- Balloon mortgages