Weekly Mortgage Update

Inflation was back in the picture this week as the core the consumer price index came in at an annualized rate of 3.6%, which pushed rates up.  Remember, the people who lend their money to Fannie & Freddie need to adjust their rate of return for what inflation takes away.  So, when inflation goes up,…

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Weekly Mortgage Update

It’s the flight to safety effect coming into play again this week as the S&P index has dropped approximately 10% and fears continue over Greek and  Portuguese debt.  The flight to safety occurs when investors become less concerned with a rate of return and more concerned with just keeping what they have.  The US bond…

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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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Shopping Interest Rates

If you are in the real estate market to buy or interested in refinancing your  home loan, shopping interest rates is very important. With rates as low as 4.25% lately, it is a great time to buy or even if you do not want to move, you may think about refinancing you home.  Everyone interested…

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