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Banks and Credit Unions Reach ReFi Customers On Tampa Radio

Sep 11, 2020 4:24:04 PM / by Larry Julius

There are approximately 394,000 households in the Tampa Bay area with existing mortgages, according to the US Census Bureau, American Housing Survey. The median amount owed on these homes is $115,000.

Yesterday, there was extraordinary news for many of these borrowers and for Tampa area banks, credit unions, and mortgage companies

According to The Federal Home Loan Mortgage Corporation (Freddie Mac), mortgage rates have hit an all-time low of 2.86%.

 
With interest rates at this new level, 20 million American homeowners can now refinance their existing mortgage, according to Black Knight, a data analytics company specializing in homeownership life cycles. 
 
By refinancing an existing mortgage, a Tampa Bay homeowner could considerably reduce the length of their loan or lower the amount 
of their monthly payments.
 
Local banks, credit unions, and mortgage companies create a great deal of revenue from refinancing. 
 
Generally, a lender can expect to earn two to five percent of the loan principal amount in closing costs, according to BankRate.com. For a $200,000 mortgage refinance, for example, closing costs could generate between $4000 and $10,000.
 
For local financial companies to claim a significant share of the expanding refi market requires advertising. By any metric, advertising on Tampa radio is the most effective way to reach homeowners.
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Topics best way to advertise, radio advertising, advertise on tampa radio, refinance, mortgage broker, mortgage, bank, home owners, home value, advertise on radio, mortgage rates, credit unions

Real Estate Advertising in Tampa Bay: Starter Home Sales Are Thriving

Jun 26, 2020 6:55:30 AM / by Larry Julius

From Carrollwood to Brandon (and every point in between), Tampa Bay real estate agents see a robust, post-pandemic market shaping up. Home sales are being driven by record low-interest rates.

The average rate for a 30-year fixed rate in June is 3.17%, according to Freddie Mac. This is down from 3.99% June of last year. That difference could save a Tampa area home buyer close to $30,000 over the term of a loan.

Data from the Federal Reserve indicates that one of the fast-growing segments of the current real estate market is starter homes. Sales in May for these modest price houses have risen above pre-COVID-19 levels and have hit a three year high.

Feuling the starter home market is demand from millennials. This generation now comprises 37% of all home buyers, says the National Association of Realtors Research Group.

To claim a large share of the market for starter homes, local real estate agents will need to advertise to attract these buyers.  By almost any metric, advertising on Tampa radio is the best way to reach millennials planning to buy a house, condo, or co-op over the next year.

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Topics Real Estate, small business, small business owner, best way to advertise, radio advertising, mortgage, home sellers, advertise on radio, home buyers, real estate agent, mortgage rates

Why Tampa Bay Mortgage Lenders And Brokers Need To Advertise Now

Mar 6, 2020 2:47:57 PM / by Larry Julius

There are 1.5 million consumers in Tampa Bay who own their own home. 

According to Zillow, more than 60% of homeowners carry a mortgage. A record number of owners are considering refinancing  now, which means millions of dollars in fees for local lenders and brokers are up for grabs.

Why the sudden urgency for Tampa Bay consumers to refinance their mortgages?

According to The Federal Home Loan Mortgage Corporation (aka, Freddie Mac), "The average 30-year fixed-rate mortgage hit a record 3.29% this week, the lowest level in its nearly 50-year history."

"Meanwhile, mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down. Given these strong indicators in rates and sales, as well as recent increases in new construction, it’s clear the housing market continues to be a positive force for the broader economy."

If a consumer Googles 'refinance my mortgage in Tampa Bay', more than 6.2 million results come back, So, to set themselves apart, lenders and brokers will need to advertise.  By, any key metric, advertising on Tampa radio is the best way to reach area homeowners.

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Topics Real Estate, small business, small business owner, best way to advertise, radio advertising, consumer spending, financial services, refinance, mortgage broker, mortgage, bank, home owners, home value

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