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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.
The latest New Home Sales report (released today) shows a slight uptick in June after last month’s sharp drop. The seasonally‑adjusted annual sales pace rose to 627,000. This represents a modest +0.6% gain from May’s revised 623,000, but remains ‑6.6% below the June 2024 level of 671,000. For all practical purposes, the pave of sales has been relentlessly sideways and stable for more than 2 years--even if there's been a bit of volatility at times. Regional Breakdown (Sales, June 2025) South: +5.1% MoM (driving national gain) Midwest: +6.3% MoM Northeast: ‑27.6% MoM West: ‑8.4% MoM Market Inventory & Pricing Homes for sale: 511,000 units (+1.2% from May; +8.5% YoY) Months’ supply: 9.8 months (highest since November 2022) Median sales price: $401,800 (‑4.9% MoM; ‑2.9% YoY) Average sales price: $501,000 (‑2.0% MoM; +1.1% YoY) Big Picture Takeaway New home sales rose modestly in June but remain well below last year’s levels, held back by elevated mortgage rates (~7%) and excess inventory. The housing market shows signs of cooling, with the median price slipping—providing some relief for buyers, though mortgage costs continue to constrain demand.
Two months ago, existing home sales hit a five-month low. Last month’s report showed a minor rebound. This month’s update, released July 23, shows a return to weakness. Sales declined 2.7% in June to a seasonally adjusted annual rate of 3.93 million. That leaves activity just above the recent low and still 25% below long-term norms. Year-over-year, sales were unchanged nationally. As has been and continues to be the case, zooming out on the same chart results in an entirely different impression of the home resale market. Sales levels have hovered near 75% of pre-pandemic norms for three years now. “The record high median home price highlights how American homeowners’ wealth continues to grow—a benefit of homeownership,” said NAR Chief Economist Lawrence Yun. “High mortgage rates are causing home sales to remain stuck at cyclical lows.” Regional Breakdown (Sales and Prices, June 2025) Region Sales (annual rate) MoM Change Median Price YoY Change Northeast 460,000 -8.0% $543,300 +4.2% Midwest 950,000 -4.0% $337,600 +3.4% South 1.81 million -2.2% $374,500 +0.3% West 710,000 +1.4% $636,100 +1.0%
Mortgage application activity managed a modest increase last week despite slightly higher rates. The Mortgage Bankers Association’s (MBA) weekly survey showed a 0.8% rise in the seasonally adjusted Composite Index for the week ending July 18, 2025. “Mortgage rates moved higher last week, with the 30-year fixed rate edging up to 6.84 percent, the highest level in four weeks,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “Purchase applications finished the week higher, driven by conventional purchase loans, and continue to run ahead of last year’s pace. After reaching $460,000 in March 2025, the average purchase loan amount has fallen to its lowest level since January, at $426,700.” Refinance applications declined 3% from the previous week but remain 22% higher than the same week last year. The refinance share of total applications dipped to 39.6% from 41.1%. Purchase applications rose 3% on a seasonally adjusted basis and are now 22% higher than last year. The unadjusted purchase index was up 4% week over week. The average 30-year fixed rate rose to 6.84%, the highest since mid-June, while rate movements across other loan types were mixed. Jumbo and FHA rates held steady, but points shifted in opposite directions. Mortgage Rate Summary: 30yr Fixed: 6.84% (+0.07) | Points: 0.62 (unch) 15yr Fixed: 6.14% (+0.10) | Points: 0.69 (+0.06) Jumbo 30yr: 6.75% (unch) | Points: 0.70 (+0.04) FHA: 6.52% (unch) | Points: 0.79 (−0.07) 5/1 ARM: 6.01% (unch) | Points: 0.28 (−0.17)
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