Orlando Mortgage Lender FBC Releases Central Florida Mortgage Report for June
Orlando, FL – August 2, 2011 – (RealEstateRama) — Orlando mortgage lender FBC recently released their Central Florida Mortgage Report for June 2011. All of the data contained in the report is compiled from financed properties located in Orange, Seminole, Volusia, Osceola and Lake Counties and excludes condos and distressed properties unable to obtain financing.
- The average purchase price increased slightly in June 2011, after two months of decreases.
- Average Loan Amounts stayed steady from May to June even with the slight increase seen in the purchase prices
- Refinance transactions have remained just under 10% for the last three months. We have seen a steady decrease in refinance activity since a high of around 30% at the end of 2010.
- Rates are continuing to decrease from the high’s we saw in March 2011.
- We are seeing the average income of first time home buyers remain steady with a slight increase; however, non-first time home buyers income is on a decline.
- We saw a slight increase in quarterly loan volume from Q1to Q2.
“Until the employment situation stabilizes in Central Florida, we are going to be in for a bumpy ride” said Joe Nunziata, Co-CEO/Chairman of FBC Mortgage, LLC.
Based on financed transactions, FBC population size and sample size, FBC Mortgage, LLC believes the report has a 95% confidence level.
About FBC Mortgage
FBC Mortgage, LLC is an employee and community owned retail mortgage banker affiliated with the Florida Bank of Commerce. Headquartered in Orlando, Florida, with branches across the State of Florida and Mississippi, FBC Mortgage lender provides low rates on home loans (FHA, VA, Conventional, USDA), construction and 203k rehab loans. The award-winning company also specializes in refinancing home loans. Visit us on the web at www.fbchomeloans.com or call us at 1-866-413-2563 to schedule your free mortgage consultation.
