South Florida Mortgage Rates Looking Up!
While I have been so busy in court defending foreclosures I hardly took notice that our staff at Weston Title have been getting busy! We have now more South Florida real estate closings in the office than we have had in at least 6 months!
In fact, the Wall Street Journal reported that 18 percent of all U.S. households will refinance in 2009. That is a whopping 72 percent increase from last year or almost $2 trillion! Interest on these loans will average about 4.7 percent – rates I have not seen in my entire career nor has anyone since the 1950s!
So let our homeowner self-bailout begin! I always said it would be South Florida’s new home buyers and the folks who had maintained good credit that would lead us back to normalcy. But, don’t kid yourself… without the stimulus package the lenders would still be on life support. Now at least we are all seeing and feeling less of a chill as the spring thaw begins. So start shopping around for what will likely be the best mortgage deal you will likely see in your lifetime!
Interested in buying or selling a home in South Florida? Take advantage of these low South Florida mortgage rates and contact us at Weston Title for more information.