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Why Southwest Florida Banks & Credit Unions Need To Advertise Now

Jun 30, 2020 8:31:53 AM / by Larry Julius

Based on statistics from the Bureau of Labor Statistics, before the COVID-19 crisis, Southwest Florida households were putting more than $2.9 billion in the bank every year. 

Since February, however, Fort Myers-Naples area banks and credit unions noticed that customers' savings accounts were beginning to swell to record levels.

According to the Federal Reserve, for many years, the personal savings rate has hovered well below 10%.  The PSR is the percentage of personal disposable income that remains after taxes and all other spending.

In April of this year, the PSR hit an all-time high of 33%. The rate remained at stratospheric levels in May, as well. The previous record high was 17.3% in September of 1975 at the tail-end of a deep recession.

There are more than 4547 banks and credit unions in Florida that would love to earn a large share of this infusion of new savings. To compete, though, requires advertising.  By almost any metric, the best way to reach new depositors is by advertising on Fort Myers radio.

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Topics best way to advertise, radio advertising, small business owner, small business, bank, advertise on radio, savings accounts, certificate of deposit, credit unions

Southwest Florida Mortgage Lenders and Brokers Need To Advertise Now

Mar 7, 2020 8:47:58 AM / by Larry Julius

There are 698,000 consumers in the Fort Myers-Naples area who own their own homes. 

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 SWFL homeowners 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 Southwest Florida', 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 Fort Myers radio is the best way to reach area homeowners.

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Topics best way to advertise, radio advertising, small business owner, consumer spending, small business, financial services, financial planner, banking, real estate, mortgage, mortgage brokers, refinance, bank, home owners, home values

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