“It’s a small world after all…” That notion was especially evident last week, with both the news in Japan and the Middle East impacting our markets. Here’s what happened, and what the impact was on home loan rates. The first thing to understand is the concept of “safe haven trading.” At times of global [...]
ShareThis morning, mortgage interest rates dropped about 1/8% on the back of the fall of the US Stock Market. Stocks opened today down about 250 points and this caused the Mortgage Backed Securities, or MBS to open up over 60 bps, this is a huge improvement from yesterday. Since this morning’s lows, the stock market [...]
ShareAre you currently paying around $900 a month for rent? Would you like to own a home? With as little at 3.5% down payment and a FHA loan, you can buy a $125,000 home and have your total payment at $900 month. The down payment is only $4375 and in many cases sellers will pay [...]
ShareOn April 18th FHA will increase the monthly mortgage insurance premium for all FHA loans by 25 bps. This means for a typical $200,000 purchase with 3.5% down payment using a FHA loan, the monthly mortgage insurance will increase $39.85 monthly from 143.72 before the change to $183.72 after April 18th. Over the last 4 [...]
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