Mortgage Newsletter

Mortgage Newsletter / Updates plus Mortgage Calculator

It is best to use a Local Reputable Mortgage Specialist for advise and accurate information when it comes to anything Mortgage Related, we have many local experts on our Team that we can connect you with.  Just call or text Barry at 239-360-5527 for the list.

Please use this Homebuying Financial Mortgate Calculator provided by Fannie Mae as a Guide for you to know How Much your Repaymnet may be, Just Click Here for Access

Please find the latest Mortgage Updates from Will Dukes & Puja Romera, some of the lenders who we have worked with and recommend to compare with, so as to fully help our Buyers (& Sellers).  (Please compare their rates and terms with other lenders; always compare, and ask questions)

We can send you Will's or Puja's most recent Rate Sheets / other information separately, please email Barry@SWFLLuxury.Com  to request it, thanks.

09 / 29 / 2023 Update from Will Dukes of Summit Mortgage:

Good evening! Below (and attached) please find your weekend ratesheet.


COMMENTARY: The Core PCE (Personal Consumption Expenditures) report in the US, which exclude volatile food and energy, increased by 0.1%month-over-month in August 2023, the least since November 2020 and below market expectations of a 0.2% rise. The annual rate, regarded as the Federal Reserve’s preferred measure of inflation, eased as anticipated to 3.9 percent, the lowest since May 2021. When factoring in food and energy costs, the PCE price index climbed 0.4 percent from the previous month and 3.5 percent from the corresponding period in the previous year. This is a report that mortgage market participants can sink their teeth into as an indication of a reduction in inflation.  More reports like this can lead to lower mortgage rates.


Looking ahead to next week, we can continue this positive mortgage rate trend with a September Jobs report and unemployment rate more in line with a contracting economy.  At this moment, the consensus is that the US has added about 155,000 new jobs in September and the unemployment rate will stay steady at 3.8%.  Numbers that approximate these estimates will help to steady or even slightly reduce rates.  A jobs report in excess of 180,000 new jobs created in September will more than likely urge rates higher.


Have a great weekend!

09 / 27 /2023 Rate Sheet Update from David Wright of Sanibel Captiva Community Bank:

September 27, 2023







Payment Per$100,000 

Single Family, Condominiums

Loan amounts

$726,200 or less








Second Home 30 YEAR FIXED










Single Family, Condominium

Loan amounts greater


than $726,200




 7/6 ARM








Second Home 7/6 JUMBO ARM










Second Home 









Portfolio Lending:


to 80% LTV


 SFR to 89% LTV,



3/1 ARM

8.24% for Primary Residence/ 9.25% All other properties




$750.56/ $822.68

Sanibel Captiva Community Bank 

12 / 02 / 2022 Update from Lauren Maxwell of Maxwell Mortgage / Crosscountry Mortgage:

Helping you navigate the market - Mixed News

It was a packed week for major economic events. The comments from Fed officials and the inflation data were favorable for mortgage markets, while the labor market report was not, and mortgage rates ended the week a little lower.

In a speech on Wednesday, Fed Chair Powell acknowledged that some progress has been made in bringing down inflation but added that a lot more work needs to be done. Given the long lag in the effects of monetary policy changes on the economy, he said that the pace of rate hikes could slow as soon as the next meeting on December 14. Most investors now anticipate a 50 basis point increase, following several larger 75 basis point hikes at recent meetings.

After a string of good news this week for mortgage rates, stronger than expected job gains and wage growth on Friday increased concerns about inflationary pressures. The economy gained 263,000 jobs in November, above the consensus forecast of 200,000. The best performing sectors were leisure, hospitality, and health care. Average hourly earnings, an indicator of wage growth, were 5.1% higher than a year ago, far above the consensus forecast of 4.6%.

The PCE price index is the inflation indicator favored by the Fed because it adjusts for changes in consumer preferences over time. In October, core PCE was up 5.0% from a year ago, slightly below expectations, and down from a peak of 5.4% in February. However, this remains far above the Fed's target level of 2.0%. This is particularly relevant because how quickly aggressive monetary policy tightening will bring down inflation is a widely debated question with enormous implications for financial markets.

Another significant economic report released this week from the Institute of Supply Management (ISM) hinted at slower economic growth. The ISM national manufacturing index dropped to 49.0, below the consensus forecast, and the lowest since May 2020. Levels below 50 indicate that the sector is contracting.

The Federal Housing Finance Agency (FHFA) announced that the baseline conforming loan limit for Fannie Mae and Freddie Mac mortgages in 2023 will increase 12% from $647,200 to $726,200. The new limit for most high-cost areas will be $1,089,300 or 150% of $647,200. This will be the seventh consecutive year of increases

Week ahead

Investors will be hoping for more specific Fed guidance on the pace of future rate hikes and bond portfolio reduction. The biggest economic report next week will be the ISM national services sector index on Monday. After that, attention will turn to the CPI inflation report on December 13 and the next Fed meeting on December 14

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