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Orlando Mortgage Lender FBC Releases Central Florida Mortgage Report for September 2011
Orlando, Florida – Orlando mortgage lender FBC recently released their Central Florida Mortgage Report for September 2011.
• Refinance activity doubled and accounted for nearly 20% of mortgage transactions in September 2011.
• Home price trend line has moved in a slight upward direction for past 24 months
• Rates continued to fall in September averaging close to 4% on a 30 Year Fixed Rate
• Income for Central Florida home buyers continued to increase. First time home buyers income averaged $4K per month while non-first time buyers income averaged close to $9K per month.
• Average credit score for buyers was close to 730.
“Finally Florida saw refinance activity pick up, doubling from the previous month. While existing homeowners are taking advantage of the low rates, new buyers get to take advantage of affordable prices coupled with the low rates. The home price trend line has been tilted slightly upward for the past two years. Comparing data for the past 24 months on financed properties shows that the worst of Florida’s Real Estate may be behind us” stated Rob Nunziata, President and Co-CEO.
* 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.
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.