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Specialists in FHA, VA, Fannie Mae & Freddie Mac Conforming Loans, Purchase, Refinance, & Reverse Mortgages

American Mortgage Loan Services is a locally owned, Florida Mortgage Broker.  For over 30 years American Mortgage has been providing mortgage assistance to Florida communities.  Our loan officers work with our clients to create a desirable mortgage that will best fit their needs and goals.  Our Daytona Beach, Port Orange, Florida, loan officers can provide you with an affordable Fannie Mae, Freddie Mac, VA, USDA, FHA or Reverse mortgage, for your purchase or refinance needs.

American Mortgage is here to help you achieve the American Dream of owning your own home.  We offer Mortgage Loans for customers with various types of credit records.  Whether you want a fixed rate mortgage, adjustable-rate mortgage, a home equity loan, refinance, purchase, investment, second home, or debt consolidation, we have a loan for you with the lowest rates available.

Thank you for visiting American Mortgage online.  We hope you enjoy your stay today and gain insight into conventional mortgages and other types of lending options.  As a locally owned mortgage broker, we understand things the big banks don't and realize that only two things matter. 

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Mortgage News

Paradox: Home Prices Face Both Head Winds and Rising Tides

February 27 2024

Despite the upward path of interest rates, both the CoreLogic Case-Shiller indices and the Housing Price Index (HPI) published by the Federal Housing Finance Agency (FHFA) showed continued appreciation in home prices last year, although not at the double-digit rate seen during the pandemic and its immediate aftermath. While all indices showed annual gains, all also indicated a softening of the market in recent months.   The Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, reported a 5.5 percent annual gain in December, a half-point more than the annual gain in November. The 10-City Composite was up 7.0 percent compared to 6.3 percent the prior month and the 20-City Composite posted a year-over-year increase of 6.1 percent, up from 5.4 percent in November. San Diego reported the highest year-over-year gain among the 20 cities, 8.8 percent, It was followed by Los Angeles and Detroit, each at 8.3 percent. Portland showed a 0.3 percent increase this month, holding the lowest rank and reported the smallest year-over-year growth, however, this reversed 11 consecutive monthly losses. Non-seasonally adjusted month-over-month changes were all negative. The U.S. National Index was down 0.4 percent while the 20-City and 10-City Composites dipped 0.3 percent and 0.2 percent, respectively. After seasonal adjustment, all three indices eked out gains of 0.2 percent. “U.S. home prices faced significant headwinds in the fourth quarter of 2023,” says Brian D. Luke, Head of Commodities, Real & Digital Assets at S&P Dow Jones Indices. “However, on a seasonally adjusted basis, the S&P Case-Shiller Home Price Indices continued its streak of seven consecutive record highs in 2023. Ten of 20 markets beat prior records.

New Home Sales Still in Line With 2017-2019 Range

February 26 2024

With the market for existing homes struggling amid a lack of inventory, New Home Sales continue doing the heavy lifting for the housing market.  Rather, New Home Sales are doing more to show a stronger relative performance to the pre-pandemic years.  The market for existing homes is still far bigger, even at its weakest levels. But existing home sales data is so "last week."  Today's release is specific to new homes, so let's zoom in.  When we do, we can see new home sales remaining in the 2017-2019 range for nearly two years now.   In other words, new residential sales continue chugging along without much fanfare since the initial supply glut and demand surge that followed covid-related lockdowns.  There was quite a bit of variation depending on geography, which is often a result of ebbs and flows of weather events at this time of year.  Here's how the chips fell in January by region: The Western region saw a huge 38.7% increase, moving from the lowest levels in 10 months to the highest levels in more than a year The Northeast saw and even larger 72% increase, but that's not saying as much given the vastly smaller unit count in that region The Midwest ticked up 7.7% month over month but remained well under July's peak The South decreased by 15.6%  to the lowest levels in more than a year, but only slightly below November

Green Shoots For Existing Homes Ahead of Spring Market

February 22 2024

Prospects for the spring market look a bit brighter as January numbers show an increase in both the pace of existing home sales and the size of the unsold inventory. The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, townhomes, condominiums, and cooperative apartments were at a seasonally adjusted annual rate of 4.00 million. This was an increase of 3.1 percent from the December rate of 3.88 million and was 1.7 percent below the pace in January 2023.  December sales figures were also revised slightly higher, cutting the previously reported year-over-year decline nearly in half to -3.7 percent. Single-family home sales rose from 3.48 million in December to 3.6 million, a gain of 3.4 percent, and remained lower year-over-year by 1.4 percent. Condo sales were flat at an annual rate of 400,000 and were 4.8 percent lower than one year earlier. Existing home sales beat analysts’ expectations, but not by much. The consensus forecast from Econoday was 3.97 million. “While home sales remain sizably lower than a couple of years ago, January’s monthly gain is the start of more supply and demand,” said NAR Chief Economist Lawrence Yun. “Listings were modestly higher, and home buyers are taking advantage of lower mortgage rates compared to late last year.” Those listings did expand in January, up 2.0 percent to 1.01 million units. This is estimated to be a 3.0-month supply at the current rate of sales, but that estimate is virtually unchanged from that in both December and January 2023. Properties typically remained on the market for 36 days in January, up from 29 days in December and 33 days in January 2023.

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