The Florida mortgage loan market is currently experiencing a 20-year low interest rate trend. The existent estate rates are at an all clip high while the interest rates are at an all clip low, providing a very good chance for people to obtain mortgage loans. Mortgage loan companies are vying with each other to supply competitory rates, services and options to attract customers. People who have got always been considering investing in existent estate are now taking the plunge.

The mortgage rate is the rate of interest that is to be paid to the lender for taking the loan. Mortgage rates and fluctuate over a clip period of time depending on the market conditions. A lower mortgage rate can intend lower monthly payments and even lower terms for the property. The mortgage loan rates in Florida are typically 6.125% for a 30-year Fixed (6.173% APR), 6.0% for a 20-year Fixed (6.063% APR), 5.750% for a 15-year Fixed (5.828% APR), 5.00% for a 1 twelvemonth LIBOR arm (5.070% APR), 5.625% for a three twelvemonth LIBOR arm (5.698% APR), 5.750% for a five twelvemonth LIBOR arm (5.824% APR), 6.375% for a 30-year Elephantine fixed (6.400% APR) and 6.250% for a Virginia 30-year Fixed (6.469% APR). These loan rates are based on loan amounts ranging from $125,000 to $400,000 while the Elephantine loan rates are based on loan amounts ranging from $400,001 to $650,000. (These rates are applicable as on 5th November, 2005.)

The Internet have 100s of land sites that offer information about low rate Florida mortgage loans. These land sites are often hosted by mortgage loan lenders and mortgage loan agents. They incorporate comprehensive information about the current rates, mortgage loan interest rate calculators, assorted loan options, and also particular packages that are usage designed as per individual requirements. Realtors would also be able to supply information about good low rate Florida mortgage companies. Friends and household members are another dependable source.