Posted under: General Area in Orlando, Market Conditions in Orlando, Financing in Orlando | April 20, 2011 9:33 AM
* Overall the real estate market continues to slowly improve in Central Florida. Year over year home prices for financed transactions are up 12% for March.
* Loan amounts averaged $160,000 for March 2011 compared with $142,000 for March of 2010, nearly a 13% increase.
* Mortgage payments for borrowers averaged $1250, approximately 9% higher than at this time last year.
* Purchase transactions continue to dominate mortgage transactions; outpacing refinance’s nearly 9 to 1.
* 1st quarter credit scores are up 4% from this time last year averaging 735.
* Average home prices jumped almost 7% compared to last month and were nearly 12% higher year over year.
* Down payments for government loans averaged $7,500 per transaction while conventional borrowers put down nearly $75,000 per transaction, the highest average amount in over 2 years.
If you or someone you know would like more information about the greater Orlando marketplace or a particular home in your neighborhood, please give me a call at 407-923-9313.
Here is a copy of the FBC Mortgage Central Florida Mortgage Report for March 2011. Below are some highlights from the month of March. All data contained in the report is compiled from Orange, Seminole, Volusia, Lake and Osceola counties. All data excludes condo and distressed properties unable to obtain financing. Based on financed transactions population size and sample size we believe the report has a 95% confidence level.
* Overall the real estate market continues to slowly improve in Central Florida. Year over year home prices for financed transactions are up 12% for March.
* Loan amounts averaged $160,000 for March 2011 compared with $142,000 for March of 2010, nearly a 13% increase.
* Mortgage payments for borrowers averaged $1250, approximately 9% higher than at this time last year.
* Purchase transactions continue to dominate mortgage transactions; outpacing refinance’s nearly 9 to 1.
* Mortgage rates tracked up for the 5th consecutive month averaging just over 5% for 30 year fixed rate loans.
* 1st quarter credit scores are up 4% from this time last year averaging 735.
* Average home prices jumped almost 7% compared to last month and were nearly 12% higher year over year.
* Down payments for government loans averaged $7,500 per transaction while conventional borrowers put down nearly $75,000 per transaction, the highest average amount in over 2 years.
If you or someone you know would like more information about the greater Orlando marketplace or a particular home in your neighborhood, please give me a call at 407-923-9313.
The information you have provide about mortgage is really nice. I read all your post and get very good things.
ReplyDeletecalifornia loan modification