The Real Deal Miami

A boom for Florida home loans

September 01, 2011 10:04AM

Florida mortgages are seeing a mini-boom thanks to record-low interest
rates and bargain home prices, according to a national survey. There
were an additional 34,250 loans on Florida homes in the second quarter
of this year compared to the first quarter, according to the Mortgage
Bankers Association. “I think this is the biggest sign of improvement in
Florida,” said Jay Brinkman, the MBA’s chief economist. The dwindling
number of delinquent loans is also helping banks feel more comfortable
in approving loans, said Rich Helber, CEO of Tropical Financial Credit
Union of South Florida. “There is a lot more stability,” he said. “We
don’t have the charge-offs, the loan losses we did a year ago.” [Sun