AL and FL Mortgage News

Mortgage News for Realtors - April 15th, 2019

April 15th, 2019 10:34 AM by Devin Murray

A Better Way to Lock

All New Custom Rate Locking - Many times a contract closing date calls for locking a loan for longer than what is needed.  This has been the trend in the mortgage industry for many years.  To capture better pricing for our customers we are excited to announce the ability lock the rate only for the time the borrower needs.  If the borrower needs 22 days we can lock for 22 days not 30.  Combined with custom rates and the ability to shop and lock we are really looking forward to tailoring each loan for each customers needs.

Southern Data

The US Median home price in January 2019 was $249,900 and the South was $219,800 according the NAR.  Combined with significantly lower property taxes compared to North and Western regions, the southern states still remain a significant value in terms of affordability in housing.

Nationwide Data

Home Prices: Corelogic notes that the rate of home-price growth as of December 2018 was 4.7% which is the lowest level seen in nearly 7 years.

Inventory: According to NAR Existing homes on the market are up 6.2% as of December 2018 compared to one year ago but shortages still remain in lower-price tiers.  Rising inventory is good when considering new housing starts in the last decade were under 10 million where demand for housing based on population growth is believed to be around 15 million.

Do you want to see how a custom rate quote compares to a standard rate quote?  Email us your questions or have them submit a pre-approval application from any mobile device 24 hours a day.

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