Insurance Storms Whip The Sunshine State
Our owner, Cameron Mackie, is in an article in the National Mortgage Professional giving his insights on insurance in Florida. Read for a snippet and then click below for the full article!
Florida’s affordability crisis is escalating, and mortgage loan originators in the state find themselves in a battle against high interest rates, home prices, and homeowners’ insurance premiums, which are nearly triple the national average and are busting borrowers’ budgets.
The challenges, while new, will worsen, says Cameron Mackie, owner and originator at Rateplicity Mortgage Corporation in Naples, who began to observe the impact of elevated insurance costs on originations as far back as three years ago.
“My question is: Are costs ever going to go down?” he asks. “We’re in a peak of inflation and when things normalize, I just see it as they’re going to continue to stabilize and give some excuse that they’re never going to bring it back down. It’s just something we have to really adjust … and prepare for the future.”