Jumbo Mortgage Rates More Affordable; Closer to Conventional Mortgage Rates
The rates for the new jumbo-conforming mortgages created by Congress are being slashed and now envy the typical conventional mortgage rates usually reserved for loans under $417,000.
The Mortgage Bankers Association announced this morning that applications for mortgage loans, on a seasonally adjusted basis, increased 2.9 percent last week when compared to the week prior.
The FHA loan cap has been raised, making FHA loans more attractive. This is just in time, as mortgage rates begin to rise for conventional home loan products, like 30-year fixed mortgages.
For some brokers/smaller lenders, offering popular FHA loans not possible
CNNMoney.com is reporting that mortgage brokers are becoming increasingly frustrated as Americans are turning to the trusty, government-backed FHA loans.
The New York Times ran an article yesterday about how finding a house for sale on the web is becoming easier. Home buyers can find real estate info on numerous websites, taking the control of housing data away from those that traditionally held it - real estate professionals.
Moving or not, regular maintenance and minor improvements from time to time is the key to keeping your home's value intact - especially in a down market.
A mortgage calculator should answer questions, not ask so many that you're left baffled. Find out how a good mortgage payment calculator can tell you exactly how much home you can afford, and help you estimate the costs that you might not be thinking about as you shop for your new home.
After a string of declining weeks, the Mortgage Bankers Association (MBA) announced today that week-over-week mortgage activity surged 15.6 percent for the week ending May 2.
While it may be fun to go on a shopping spree, these ideas may help you set your home finances on a bit more solid foundation. Using economic stimulus money to shore up your budget makes some great long-term sense. Here are 8 smart ways to use your economic stimulus check for long-term budget improvement.