Mortgage Discussion for the Panhandle area

Interest rates have moved up a little but still at historic low marks. The interest rates have been acting like our Northwest Florida weather lately. Cold to freezing one day to hot the very next day. The economy has forced rates to these low margins but what can we expect? Considering the latest data out the unemployment rate keeps climbing and prices on goods and services continue to fall. That means the need for low rates will continue and we have no inflationary pressure to push rates higher. Good news for rates and people who need to refinance or buy a new home.

The market is starting to show signs of some recovery. Home sales have inched upward with the lower rates. Will it hold for a while? That is the million dollar question.

On this historic inauguration day, I remember the words of FDR's inauguration speech. Roosevelt's inauguration speech was the shortest in history lasting about 15 minutes. That was the speech where FDR said "The only thing to fear is fear itself". It is that fear that keeps our current economy from moving forward. I wish our new President all the best and hope the excitement surrounding our nation is contagious and sparks a new growth for the economy and the housing market.

Currently we are still closing 100% loans with low 5% rates and FHA loans are going crazy. Our commitment to all customers is our experience. We simply close the loans we start. If you are having any trouble closing loans in this market call our expert team to make your loans close easier.