Coconut Creek

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Home Buying Slows This Week

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…
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Check Out Our Latest Mortgage Loan Video!

  Ace Mortgage Loan Corporation is dedicated to helping our clients achieve their dream of home ownership. First time home buyers are obviously hesitant to jump right into the often confusing housing market, but thanks to the professional home loan experts at Ace Mortgage Loan Corporation, a first time home buyer has nothing to worry about. Here at Ace we go out of our way to ensure that our clients fully understand the details of their new mortgage so the isn't any room for confusion. We work closely with our clients throughout the process of obtaining a mortgage loan in South Florida. Ace Mortgage proudly serves the people of: Coral Springs Boca Raton Delray Beach Margate Pompano Beach Davie Coconut Creek Check out our latest video about mortgages and home…
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Mortgage Loan Refinancing May Be Winding Down

  The interest rate for 30-year fixed-rate mortgages has steadily rose over the past few weeks, reaching %4 for the first time in a year. As the rates continue to climb, many people are scrambling to refinance their mortgage before rates climb even higher. Since the subprime mortgage crisis is nearly over and the housing market is rebounding, it’s easier for people to refinance because their homes are worth more. Many are refinancing away from adjustable-rate mortgages and into fix-rate mortgages. People worrying about inflation is the most common reason for the switch. When it comes time to refinancing your mortgage in the greater Boca Raton area, your first stop should be the mortgage loan professionals at Ace Mortgage Loan Corporation. Refinancing a mortgage isn’t rocket science, but having the…
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Higher Interest Rates and Potential Homeowners

  With national mortgage rates reaching 4% recently, the refinancing boom of the past few years is about to be over. Big banks have done very well thanks to the huge number of people who refinanced their mortgage. Higher interest rates means less refinancing and the question is how will banks respond to the drop in revenue? Many banks opened up whole new offices to handle the number of refinancing mortgages, but those offices won’t have much to do with interest rates where they are. If rates remain at 4% and above, some banks may have to lay off the extra staff to save some money. Another interesting side effect of higher interest rates is that many lenders will open up to a wide base of potential homeowners. Approving mortgages…

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