Fort Lauderdale is a city in the state of Florida. It’s situated in the southern area of the state, and is a part of the county of Broward. It is also known as the “Venice of America,” and was founded in 1911. Fort Lauderdale has a city wide population of roughly 190,000 people.
The area residents are showing a bit of interest in the Ft Lauderdale mortgage markets these days. Web traffic trends are pointing to interest in mortgage products again, for the first time in some years since the real estate market in this state’s crashed. Many home owners are looking to Ft Lauderdale refinance their homes, after years of not being able to due to a frozen credit market, in which banks absolutely refused to lend to other banks, as well as to consumers and home owners and buyers. Those credit markets are starting to thaw however, and we’re beginning to see some signs of life in the Ft Lauderdale home loans sector. The problem still is that many borrowers are finding mortgage rates are way higher than they ought to be, based on the near 0% interest rate’s the Federal Reserve’s charging member banks for borrowing.
Still, interest is picking up, but by no means is this a sign that the area’s economy is going to be back to a state in which it was just 3 or 4 years ago, when it was super active, and super vibrant. Many economist, in fact, are pretty much together in saying that not all of the speculators have been processed out of the system, so to speak, so we still have a bit to go yet, before the entire situation’s bottomed, there in the area. Some of the problem is that all of the Ft Lauderdale jumbo loans that were taken out just a few years ago, will take another year or two to really get the full momentum of the bulk of the debts that were taken out then. So, unfortunately, the market for real estate will be a sort of buyer’s market, if you can afford to buy at this point.
First Nationwide Lending is currently offering a variety of Fort Lauderdale mortgage products for residents and individuals looking to relocate to the Fort Lauderdale Florida area.