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Specialists in FHA, VA, Fannie Mae & Freddie Mac Conforming Loans, Purchase, Refinance, & Reverse Mortgages

American Mortgage Loan Services is a locally owned, Florida Mortgage Broker.  For over 30 years American Mortgage has been providing mortgage assistance to Florida communities.  Our loan officers work with our clients to create a desirable mortgage that will best fit their needs and goals.  Our Daytona Beach, Port Orange, Florida, loan officers can provide you with an affordable Fannie Mae, Freddie Mac, VA, USDA, FHA or Reverse mortgage, for your purchase or refinance needs.

American Mortgage is here to help you achieve the American Dream of owning your own home.  We offer Mortgage Loans for customers with various types of credit records.  Whether you want a fixed rate mortgage, adjustable-rate mortgage, a home equity loan, refinance, purchase, investment, second home, or debt consolidation, we have a loan for you with the lowest rates available.

Thank you for visiting American Mortgage online.  We hope you enjoy your stay today and gain insight into conventional mortgages and other types of lending options.  As a locally owned mortgage broker, we understand things the big banks don't and realize that only two things matter. 

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Mortgage News

Mortgage Apps Eke Out Small Gain Thanks to Purchase Activity

July 23 2025

Mortgage application activity managed a modest increase last week despite slightly higher rates. The Mortgage Bankers Association’s (MBA) weekly survey showed a 0.8% rise in the seasonally adjusted Composite Index for the week ending July 18, 2025. “Mortgage rates moved higher last week, with the 30-year fixed rate edging up to 6.84 percent, the highest level in four weeks,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “Purchase applications finished the week higher, driven by conventional purchase loans, and continue to run ahead of last year’s pace. After reaching $460,000 in March 2025, the average purchase loan amount has fallen to its lowest level since January, at $426,700.” Refinance applications declined 3% from the previous week but remain 22% higher than the same week last year. The refinance share of total applications dipped to 39.6% from 41.1%. Purchase applications rose 3% on a seasonally adjusted basis and are now 22% higher than last year. The unadjusted purchase index was up 4% week over week. The average 30-year fixed rate rose to 6.84%, the highest since mid-June, while rate movements across other loan types were mixed. Jumbo and FHA rates held steady, but points shifted in opposite directions. Mortgage Rate Summary: 30yr Fixed: 6.84% (+0.07) | Points: 0.62 (unch) 15yr Fixed: 6.14% (+0.10) | Points: 0.69 (+0.06) Jumbo 30yr: 6.75% (unch) | Points: 0.70 (+0.04) FHA: 6.52% (unch) | Points: 0.79 (−0.07) 5/1 ARM: 6.01% (unch) | Points: 0.28 (−0.17)

Rising Rates Hit Mortgage Apps, But Pace Remains Better Than 2024

July 18 2025

Mortgage application activity dropped sharply last week as rates moved higher, according to the Mortgage Bankers Association’s (MBA) latest survey. The Composite Index fell 10.0% on a seasonally adjusted basis for the week ending July 11, reversing much of the prior week’s gain. “Mortgage rates rose last week following higher Treasury yields, which weighed on both purchase and refinance demand,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “Refinance activity declined, and purchase applications fell to their lowest level since May.” Refinance applications fell 7% from the previous week but remain roughly 25% higher than the same week one year ago. Purchase applications declined 12% on a seasonally adjusted basis. The unadjusted index increased 11% week-over-week and is still about 13% higher than 2024 levels, reflecting a modest improvement in year-over-year comparisons despite recent volatility. The average 30-year fixed rate rose to 6.82%—up slightly from the prior week—while points held steady or edged lower depending on loan type. Mortgage Rate Summary: Loan Type Rate Change Points Change 30yr Fixed 6.82% +0.03 0.62 0.00 15yr Fixed 6.11% +0.05 0.66 −0.01 Jumbo 30yr 6.81% +0.03 0.39 −0.01 FHA 6.55% +0.02 0.74 −0.02 5/1 ARM 6.01% +0.02 0.58 −0.02

Builder Outlook Ticks Up Despite More Price Cuts and Less Buyer Traffic

July 18 2025

Builders are placing their better days in the future according to the National Association of Homebuilders (NAHB) and Wells Fargo's latest Housing Market Index (HMI). Buoyed by longer-run expectations, the headline builder confidence index rose one point to 33, but remained deep in pessimistic territory, marking the 15th consecutive month below the key threshold of 50. Underlying components of the index were mixed: Current sales conditions rose one point to 36 Sales expectations for the next 6 months climbed 3 points to 43  Buyer traffic slipped one point to 20 High mortgage rates, elevated construction costs, and persistent affordability challenges continue to weigh on builder confidence. In response, many builders are offering concessions to attract hesitant buyers. The share of builders reporting price reductions rose to 38% in July, the highest since NAHB began monthly tracking in 2022. The average price cut remained at 5%. Sales incentives remained widespread as well, with 62% of builders reporting some form of incentive—unchanged from June. While the small uptick in sentiment may reflect cautious optimism in certain segments of the market, the overall outlook remains subdued. Builders continue to face significant headwinds, and buyer traffic is still near post-pandemic lows.

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