FHA loan limit reductions, effective 10/1/2011, will have a major impact on loan availability and will further depress home values if congress does not extend the loan limits.
The Massachusetts Mortgage Blog
News, Information and Insight into the Mortgage World By David Gaffin, Greenpark MortgageBrowsing Posts in GUIDELINES
A very unusual event is taking place in the mortgage market. FHA rates, which have traditionally be higher than Fannie and Freddie rates, are substantially lower these days. I have priced out loans where the FHA rate is as much as 1/2% lower than Fannie and Freddie. Do not confuse this with the APR. The APR [...]
So, since Nov 3rd when the details of QEII were released, we have seen a very rapid rise in mortgage rates. On a national basis, the Freddie 30 year fixed rate has moved from 4.20% to 5.05% this week. The 10 year Treasury has risen above 3.70% and Inflation seems to be the word of [...]
First Time Home Buyer’s Mortgage Primer
Given that rates are at all time lows, many buyer’s have asked me whether first time home buyer’s can qualify for these rates. So today I want to help buyer’s understand the various programs that are available, what rates might be offered, what down payments they may need and whether mortgage insurnace would be required.