September 12, 2010 (Shirley Allen) Effective October 4th, FHA loans will see an increase in the monthly mortgage insurance premium. However, perspective borrowers will see a decrease in the Upfront Mortgage Insurance from 2.25 to 1.00 (100 basis points) on most FHA insured loans except Home Equity Conversion (HECM – “reverse mortgage”). Read more...
September 3, 2010 (Shirley Allen) The Federal Housing Administration’s (FHA) refinance program aimed specifically at homeowners who are “upside-down” begins on Monday September 7th. Participation and effectiveness remains to be seen, because like some of the other ‘bailout” programs qualifications and requirements could disqualify many who could benefit from the program. Read more...
September 3, 2010 (Chris Moore) Average mortgage rates in the United States continued to hover at historic lows. Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), and for yet another week, fixed-rate mortgages reached record lows, as did the 5-year adjustable rate in this survey. Read more...
September 1, 2010 (Jeff Alan) Freddie Mac reported on August 30th that there was a slight increase in home prices in the 2nd quarter of 2010. The Conventional Mortgage Home Price Index (CMHPI) Purchase-Only Series for the United States registered a 3.1 percent (13.2 percent annualized) increase in the second quarter relative to the first [...]
August 23, 2010 (Chris Moore) The sales of new homes fell last month fell to the lowest level on record. It was the latest indication that home sales are stagnating after the expiration of a homebuyer tax credit this spring. Read more...
July 31, 2010 (Chris Moore) Mortgage rates are the most affordable in decades for those who can qualify for a loan. For many, the opportunity to buy a home or refinance at this time is lost because of the tough economy and tight credit standards. But those who have secure jobs, superior credit and strong [...]
July 30, 2010 (Jeff Alan) Although economists have grown increasingly concerned that the real estate market may slip into a "double-dip" recession, today's consumers are being handed a tempting incentive to buy property or refinance their home loans: ultra-low mortgage rates. Rates on 30-year fixed mortgages fell to 4.57 percent for the week ending July [...]
