Mortgage Interest Rates climbed a whole point over the past 60 days, says top Florida Mortgage provider

LAKE MARY, Fla. --- Mortgage loan rates have risen a full point over the past 60 days, leading to a big change in the business for Integrity Home Loan of Central Florida, the state’s largest privately-owned mortgage company. Matt Malloy, president of Integrity Home Loan, said his firm has shifted to a greater focus on home sales. “In the past we have seen significant growth in mortgage refinancing,” Malloy said. “Now it appears that side of the business has slowed as interest rates have risen.” Six months ago, about half the mortgage loans Integrity Home Loan provided refinanced existing mortgages. Today, about three-fourths of Integrity’s mortgage business is for the purchase of new or existing homes, Malloy said. Malloy said rising mortgage rates and fewer applications for mortgage refinancing are both signs of a healthier economy. “The U.S. economy is coming back and we can all feel good about that,” Malloy said. Integrity Home Loan is Florida’s largest fully integrated privately owned mortgage company with 11 branches including the headquarters in Lake Mary and locations in Coral Springs, West Palm Beach, Jacksonville, Orlando, Tampa and in the Detroit suburb of Southfield, Mich.