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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

Refinance Applications Tick Back Up as Rates Play Ball

February 05 2025

There are two main styles of measurement when it comes to keeping track of mortgage rates: daily and weekly.  Sometimes, the differences in methodologies mean that two reputable sources can convey seemingly incongruent conclusions.  Other times, both the granular and general data agree.  This is one of those times. Whether we're looking at MND's daily averages or MBA's weekly survey, mortgage rates hit their lowest levels in 6 weeks by the end of last week.  The drop wasn't immense, but based on today's release of MBA application data, it was enough for a small bump in refinance demand.  As is constantly the case over the past several months, the scope of the mid-2024 spike in application activity is more easily understood with the benefit of additional historical context. Purchase applications are never as sensitive to rates over short time horizons.  In fact, they moved down a bit last week, but the counterpoint is that the purchase index has been holding near recent highs. Here too, broader context changes the takeaway. Other details from the report: Refinances accounted for 39% of the total vs 37.1% last time FHA loans accounted for 16.2%, down a bit from 16.7% VA loans accounted for 13.3% vs 13.2% MBA recorded 30yr fixed rates at 6.97 for the week with 0.64 discount points Jumbo rates were 7.01 with 0.48 discount points

Pending Home Sales Pull Back From Best Levels Since April 2023

January 30 2025

The National Association of Realtors (NAR) released its Pending Home Sales Index (PHSI) for December this morning.  Pending sales measures the number signed purchase contracts for existing homes. As such, the index is a good early indicator for Existing Home Sales in the coming month. Pending sales dropped 5.5% from last month, which was the highest level for the index since April 2023. Sales had also been on a 4 month winning streak.  In other words, sales activity remains in solid territory, in the upper middle portion of the range over the past year.  As is the case with most housing-related metrics, that range is at historically low levels.  Regional breakdown of monthly and (year-over-year changes): Northeast  -8.1% (-1.3%) Midwest -4.9% (-6.9%) South -2.7% (-5.1%) West -10.3% (-5.1%)

Home Price Appreciation Ran Just Above Expectations in November

January 28 2025

Both S&P Case-Shiller and the FHFA released national home price indices this morning. In both cases, November's prices were slightly higher than expected.  For the Case Shiller data, this meant that prices declined less than expected. Unlike FHFA prices, Case Shiller is NOT seasonally adjusted--something that is immediately apparent when viewing a month-to-month chart. November is frequently near the low point of any given year for price appreciation. This month's 0.1% decline is an improvement from October's 0.2% decline or the 0.3% drop from last November. Regionally, Boston and New York were top performers in November, but only NY and Chicago were over 6% year over year. As seen in the table above and the chart below, prices are easily in positive territory in year-over-year terms.  The same is true for FHFA, which is seeing almost the exact same change as Case Shiller.  In addition, both indices have been fairly flat in the low 4% range recently.

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