Weekly Mortgage Update

There is an old curse my mother once taught me:  May you live in interesting times.  Honestly, I don’t think it’s a curse because I’d rather have an  interesting time than a boring one.  But markets don’t always like interesting and so we continue to see the push pull dynamic between world uncertainty and economic…

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Find out more on FHA raising the MIP

Did you know that FHA is raising the Mortgage Insurance Premium, MIP, on all loans filed after October 4th, 2010? FHA will raise the MIP on all FHA case numbers assigned on or after October 4th.  This is a value added proposition for any one out there that is on the fence about buying a house. …

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Rates still at an all time low!

Mortgage bonds traded yesterday afternoon at an all time low yield.  Below is 2-year history, which covers the current refinance cycle which started in late November, 2008. Let me know if you want to go shopping for a home!?! These rates enable you to buy a bigger/more expensive home at a lower price!

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Sales have slowed down, but still remain above last year.

Excerpt from Realtor.com Daily Real Estate News  | July 22, 2010  | Sales Slow But Remain Above Last Year With the scheduled closing deadline for the home buyer tax credits, existing-home sales slowed in June but remained at relatively elevated levels, according to the National Association of REALTORS®. Existing-home sales, which are completed transactions that include single-family,…

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