Buyers are choosing fixed rate mortgages

The Mortgage Bankers Association reports that consumers increasingly chose fixed rate mortgage products during the last part of 2007.

Fixed rate loans accounted for 63.6 percent of loans in the second half of 2007.

The survey also noted that the first time purchaser's average loan amount was $215,185 during the last half of 2007.

Related Florida real estate views:

Make sure you review an estimated proceeds document before signing an offer to buy your home

FDIC – Home ownership declines with income levels

Do you want to buy a house but are short on cash for a down payment?

- Greg Staker Watson Realty Corp. 407-304-0255