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Florida Mortgage Rates
|Unlock Bank||2.375||5 Year ARM||Jumbo||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||2.5||5 Year ARM||FHA||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||3.25||30 Year Fixed||FHA||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||3||15 Year Fixed||Jumbo||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||2.25||5 Year ARM||Conforming||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||2.75||15 Year Fixed||FHA||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||4||30 Year Fixed||Jumbo||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||3.75||30 Year Fixed||Conforming||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||2.75||15 Year Fixed||Conforming||0.7 to 1||Show Phone Number||Learn More|
By: Lisa Burden | September 28th, 2012
The Home Affordable Refinance Program continues to account for a substantial portion of total refinance volume in many states. In July 2012, HARP refinances for Florida represented 60 percent of total refinances, compared to 27 percent of total refinances nationwide. Indeed, HARP refinances for the Sunshine State were among the highest with only a few states reporting higher numbers.
On a nationwide basis, lenders refinanced 423,000 mortgages through Fannie Mae and Freddie Mac under the HARP program in the first six months of 2012 — more than all of last year — according to the Federal Housing Finance Agency (FHFA), the regulator for Fannie Mae and Freddie Mac.
Increased affordability from historically low mortgage rates and lower housing prices has spurred more demand in the mid- to higher-end markets this year in Florida, according to DataQuick. In the lower price ranges, demand among first-time buyers, investors and vacation-home buyers has been robust, and it has reportedly depleted the supply of homes on the market to the point where it’s limited the sales volume – that is, if there were more homes on the market, then sales would be higher. Why aren’t more homes hitting the market to meet the higher demand? Many who would like to sell can’t because they owe more than their homes are worth, according to DataQuick.
HARP was launched in 2009 to help homeowners who are underwater on their mortgages refinance their home loans. The program has been tweaked several times since its inception as a result of criticism from both lenders and borrowers. In an earlier version of HARP, there was a 125 percent loan-to-value ceiling. That ceiling, which was proving to be a detriment to homeowners who wanted to refinance under the program, was eliminated this summer.
To qualify, a mortgage must be owned by Fannie Mae or Freddie Mac and it must have closed before June 1, 2009. An appraisal is not required under the program. In addition, you are not eligible if you missed any mortgage payments by more than 30 days in the last six months; however, after you make enough payments on time, you can become eligible.
FreeRateUpdate.com surveys more than two dozen wholesale and direct lenders’ rate sheets to determine the most accurate mortgage rates available to well qualified consumers at a standard 0.7 to 1% origination fee.
Latest HARP Mortgage News March 31st, 2014
FHA Purchase Loans Decrease in Florida in June, But FHA Streamline Refinance Still Available
By: Lisa Burden | September 28th, 2012
The Florida real estate market is showing strength on a year-over-year basis, but weak areas are still present. Miami-area June 2012 home sales bucked the new norm of increased home sales reported on a nationwide basis and fell from May. … Continue reading
Florida Mortgage Rates: After Recent Increases, Mortgage Rates Finally Steady
By: Vanessa Rodriguez | January 19th, 2011
Florida mortgage rates increased slightly this week by 0.125 percent over last week. The conforming mortgage rate currently in Florida for a 30-year fixed rate mortgage is 4.625 percent and 4.000 percent for a 15-year fixed rate conforming mortgage loan. An 5/1 adjustable rate mortgage in Florida has a mortgage rate at 3.125 percent. Florida borrowers who are well qualified can obtain a mortgage loan with these low rates at only 0.7 to 1.0 origination points. Continue reading
Florida Mortgage And Real Estate: If I Only Had A Crystal Ball…
By: Jim Eggers | March 3rd, 2010
FLORIDA — March. 03 (FreeRateUpdate.com) – This morning I was reading the just released Mortgage Bankers Application Index, now called “The Weekly Mortgage Applications Survey.” Whatever, it’s “The Market Composite Index” that measures the mortgage loan application volume for the … Continue reading
Florida Real Estate and Mortgage: Get Your HUD Out Of The Way…
By: Jim Eggers | February 19th, 2010
FLORIDA — Feb. 19 (FreeRateUpdate.com) – I wrote in an article a few weeks back about how I think regulation has a purpose and that it’s now time for government to get out of the way and let the markets … Continue reading