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

Mortgage Banker Association expect home sales to bottom out in 2008

In a recent press release from the Mortgage Banker Association, the Association when addressing the housing situation stated:

"We expect housing starts and home sales to continue to trend down and reach bottom around the end of the 3rd quarter 2008".

Additionally the Association expects mortgage origination to decrease by 18% in 2008.


Related Florida real estate views:

Buyers are choosing fixed rate mortgages

FDIC – Home ownership declines with income levels

Realtors should not write home loans


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