Monthly Archives: March 2012

FHA about to tighten guidelines regarding credit collections

Beginning April 1st, home buyers with ongoing credit disputes over $1,000 will no longer be approved for a mortgage backed by the Federal Housing Administration. Buyers with collection accounts will either have to pay the debt off or enter into … Continue reading

Posted in Mortgage News | Tagged | Leave a comment

All signs are pointing to increased housing demand

What do you get when you mix an improving economic outlook for the US economy, a healthy supply of housing inventory at record affordability, record low fixed interest rates, immediate passive income opportunities for investment properties, and situations in most … Continue reading

Posted in Mortgage News | Tagged , , , | Leave a comment

Here’s why the 10 yr note (and mortgage rates) shot up over the last two days

Interest rates are hitting a four month high this morning, breaking many technical support levels. The 10 yr and MBSs were hit hard yesterday and so far this morning another spike in rates. For four months the 10 yr traded … Continue reading

Posted in Mortgage News | Tagged , | 1 Comment

My Thoughts for the Week of March 12th, 2012

FOMC meets tomorrow, it’ll be interesting to see how they respond to the market’s interpretation that the economy is doing better than the Fed suggests. Bearish or Bullish, what’s it going to be? Seems like everyone is ready for a … Continue reading

Posted in Mortgage News | Tagged , | Leave a comment

FHA announces decrease in Mortgage Insurance Premiums for certain Streamline Refi’s

This is great news for FHA borrowers who have been unable to participate in Streamline Refinances because the new higher annual MIP eroded any potential savings from a lower interest rate! Tuesday, Acting Federal Housing (FHA) Commissioner Carol Galante announced … Continue reading

Posted in Mortgage News | Tagged , , | Leave a comment

People Are Buying Homes…AND Getting Mortgages

Many believe that very few houses are selling and that almost no one can get a mortgage. We want to let everyone know that neither of these assumptions is true. Recently, the National Association of Realtors (NAR) released their Existing … Continue reading

Posted in Mortgage News | Leave a comment

My Thoughts for the Week of March 5, 2012

The big data coming this week is on Friday with the February unemployment numbers. Expectations are for the unemployment rate to remain unchanged at 8.3%. Look for deviations from this to move the interest rate market. If Jan unemployment numbers … Continue reading

Posted in Mortgage News | Tagged | Leave a comment

The Low Down on the April 9th FHA Mortgage Insurance Increase

Beginning April 9, 2012, the FHA is once again raising mortgage insurance premiums (MIP) on its newly-insured borrowers throughout the country. It’s the FHA’s fourth such increase in the last two years. Beginning April 9, 2012, upfront mortgage insurance premiums … Continue reading

Posted in Mortgage News | Tagged , | Leave a comment