FHA Makes Homeownership More Affordable — But Not Until October 1, 2008
Earlier this year — and for the first time in its history — the FHA changed its funding fees and mortgage insurance structure. Effective October 1, 2008, it’s repealing those changes. Partly to keep FHA home loans affordable, and partly to comply with new laws, the FHA is rolling back its...How do Mortgage Rates React to Crude Oil Spikes
(Image courtesy: GasBuddy.com) Crude oil prices jumped $25 at one point Monday, ending the day up by 16 percent. This is an unwelcome development for home buyers because the same market forces that pushed up oil prices had a similar impact on mortgage rates. It all comes down to the U.S. dollar. Because...Week in Review: Week of September 22, 2008
(Image courtesy: Wall Street Journal) In a historic week for American Finance, mortgage rates rose considerably, reversing a 3-week trend through which rates had fallen. The U.S. Treasury is the biggest reason why most conforming mortgage rates increased by a half-percent. Hank...Great New Website
Posted by yourmortgageplanner on Sep 21, 2008 in Credit Crisis TARP, Economy, One Step Ahead | 0 comments
The FDIC launched a new website this last week to help put the Nations worries about their bank deposits to rest. My FDIC http://myfdicinsurance.gov/
Lower Your Mortgage Rate Every Time the Market Dips
Posted by yourmortgageplanner on Sep 19, 2008 in Economy, Mortgage Rates, One Step Ahead | 1 comment
Getting a great, low mortgage rate is often a combination of luck and preparation.
Consider what happened in conforming mortgages this week:
Monday, mortgage rates plunged to their lowest levels of the year
Tuesday, they bounced back in full
Wednesday, they clicked higher by a eighth-percent
Thursday,...
