Boca Raton, FL (PRWEB) June 29, 2013
The record low mortgage rates of a few short months ago (and over the past several years) are a thing of the past according to Scott Osher of Ace Mortgage Loan Corporation and many other mortgage loan professionals across the country.
The past few weeks have seen mortgage rates jump almost a full percentage point to more than 4.5% for a 30-year fixed rate mortgage. Rates haven’t been this high in years and as a result, mortgage loan professionals like Mr. Osher at Ace Mortgage Loan Corporation are urging potential homebuyers to act now, particularly those looking for a home in the Boca Raton, FL area.
This perfect storm of higher rates and increased regulation are causing nothing short of havoc in the market.
"Consumers are scrambling for the doors in an effort to have their loans underwritten quickly to avoid further market deterioration" explains Osher. "Overpromising is rampant, with realtors and consumers demanding contract dates be met".
Having a local lender who is adept to market conditions allows for consumers, both buyers and sellers, as well as realtors and title companies work together to achieve the goal of serving the client. Many real estate transactions have so many working parts. For instance, if someone is selling their house to buy another one, the seller and buyer have other obligations such as the sellers new purchase or the person who is buying the buyers home.
The effects of a late closing or worse, one that is turned down midway through the underwriting process, due to regulation tightening at Fannie Mae or Freddie Mac, can and will cause a trickle down debacle of immense proportions. Finding a firm that understands the market and its potential pitfalls and being able to reach someone at that firm seven days a week is crucial.
According to Mr. Osher, even with home prices rebounding and interest rates going up, it’s still possible to get a good deal on a mortgage when you get help from a professional mortgage loan company.
About Ace Mortgage Loan Corporation:
Founded in 1996 by Scott Osher, Ace Mortgage Loan Corporation is dedicated to helping the people of South Florida reach their dream of home ownership. With their clients best interests at heart, Ace Mortgage Loan Corporation helps people navigate the often confusing world of home mortgage loans in Boca Raton, FL. Ace Mortgage Loan Corporation has a reputation for putting their client’s needs before their own and providing the best quality service and support. Stop by Ace Mortgage Loan Corporation’s office at 10181 W. Sample Road Coral Springs, FL 33065 or reach us by phone: (954) 777-4774 or by email: mail(at)mortgagescoralsprings(dot)com for more information about mortgage loan services. You can see the list of mortgage options on the Ace website by clicking here. Text HOME to 754-333-5941 or download the Ace Mortgage app on your smartphone to stay up to date on your file. http://www.mortgagescoralsprings.com