Posted by Jim Hungerford on January 12, 2012 · Leave a Comment
Lock your interest rates in sooner, rather than later as the Temporary Payroll Tax cut that President Obama signed into law will impact the future of mortgage rates secured by Fannie/Freddie (conventional loans) or insured by FHA. These programs have been choosen to assist in the repayment of the bill. The new law directs the Federal … Read more
Filed under Mortgage Market Update · Tagged with Conforming loan limits, conventional, FHA, financing, first time homebuyer, home mortgage, home refinancing, interest rate, interest rates, Mortage industry, mortgage, mortgage application, mortgage market, Mortgage Rates, oregon, portland
Posted by Jim Hungerford on September 26, 2011 · Leave a Comment
New Fed Programs Help Mortgages last week: Last weeks fed announcement to boost the economy helped mortgage rates hit historic lows mid week. This weeks New Home Sales will be released today, Durable orders will come out on Wednesday, Pending Home Sales on Thursday. Friday could be a big day with Core PCE inflation, Personal … Read more
Filed under Mortgage Market Update · Tagged with Conforming loan limits, Construction, conventional, credit mortgage, FHA, Finance, financing, first time homebuyer, home mortgage, home refinancing, interest rate, interest rates, investment property, Mortage industry, mortgage, mortgage application, mortgage market, Mortgage Rates, new home, oregon, portland
Posted by Jim Hungerford on September 22, 2011 · Leave a Comment
Manufactured homes are affordable homes that are pre-made in a factory. They can either be existing homes (only been moved once) or newly built homes placed on land the homeowner owns or is in the process of purchasing. FHA/HUD loans offer consumers an option to buy these affordable homes with low down payments and affordable interest rates. To … Read more
Filed under Home Buying · Tagged with FHA, FHA Streamline, Finance, financing, first time homebuyer, home mortgage, interest rate, interest rates, Mortage industry, mortgage, mortgage application, Mortgage Rates, oregon, portland
Posted by Jim Hungerford on May 11, 2011 · Leave a Comment
Were you caught up in the meltdown over the last couple of years? Lost your home, your job or some other extenuating circumstances that changed your life? Your not alone! Thousands of individuals/families are in the same situation. If your financial situation improving, then you still may qualify for a home mortgage. Click here for credit … Read more
Filed under Home Buying · Tagged with application, Approval, Conforming loan limits, conventional, credit mortgage, FHA, financing, first time homebuyer, home mortgage, interest rate, mortgage, mortgage application, mortgage market, Mortgage Rates, oregon, portland
Posted by Jim Hungerford on November 22, 2010 · 2 Comments
Oregon Bond is back! Now you can take advantage of the great rate fee combinations they have to offer. The CashAdvantage rate is 3.875% and the RateAdvantage is 4.40% (with 3% cash assistance for down-payment and closing costs). Oregon Bond - Loan applicants (income qualifications) must be a first-time home buyer, which means you have not owned and occupied a primary … Read more
Posted by Jim Hungerford on November 1, 2010 · Leave a Comment
Rising rates early in last week were partially offset by improving rates later in the week. In the end, mortgage rates finished the week just a little higher. On Wednesday, the Fed is expected to announce a new program to purchase Treasury securities (quantitative easing) to boost the economy. Based on comments from Fed officials, investors … Read more
Filed under Mortgage Market Update · Tagged with all in one construction, application, Approval, Conforming loan limits, Construction, construction loans, conventional, credit mortgage, FHA, Finance, financing, first time homebuyer, home mortgage, home refinancing, home repair, interest rates, investment property, Mortage industry, mortgage, mortgage application, mortgage market, oregon, portland, remodel
Posted by Jim Hungerford on October 18, 2010 · Leave a Comment
The economic data released last week continued to show low inflation and modest economic growth. As a result of no real surprises, mortgage rates ended the week with little change. This week, Industrial Production, an important indicator of economic growth, will be released on Monday. Housing Starts will come out on Tuesday. The Fed’s Beige Book, revealing … Read more
Filed under Mortgage Market Update · Tagged with all in one construction, application, Approval, Conforming loan limits, Construction, conventional, credit mortgage, FHA, Finance, financing, first time homebuyer, home mortgage, home refinancing, interest rate, interest rates, investment property, loan, Mortage industry, mortgage application, mortgage market, Mortgage Rates, oregon, portland, remodel
Posted by Jim Hungerford on July 26, 2010 · Leave a Comment
In his semi-annual testimony to Congress, Fed Chief Bernanke described the economic outlook as “unusually uncertain”. According to Bernanke, this is the worst labor market since the Great Depression, and it is recovering more slowly than expected. Still, the Fed forecasts modest economic growth in 2010 with low inflation. Important for mortgage rates, Bernanke … Read more
Filed under Mortgage Market Update · Tagged with all in one construction, application, Approval, Conforming loan limits, construction loans, conventional, credit mortgage, FHA, Finance, home mortgage, home refinancing, interest rate, interest rates, investment property, Mortage industry, mortgage application, mortgage market, Mortgage Rates, portland
Posted by Jim Hungerford on March 10, 2010 · Leave a Comment
FHA announces changes that will hopefully strengthen it position in this unstable market. Federal Housing commissioner has released a letter: 1) The Up-Front mortgage insurance premium will be increased by 50 basis points (from 1.75% to 2.255)on any new case numbers issued April 5th, 2010 and after. Typically the fee is rolled into the loan. … Read more
Posted by Jim Hungerford on January 20, 2010 · Leave a Comment
FHA announced it will raise mortgage insurance premiums and update the combination of FICO scores and down payments for new borrowers. Announced Policy Changes: 1) Mortgage insurance premium (MIP) will be increased. Raise up-front MI (increase the loan amount) Second step would be to increase the annual amount (increase monthly payment) Should go into effect this spring 2) … Read more
Filed under Home Buying · Tagged with application, Conforming loan limits, credit mortgage, FHA, home mortgage, HUD, interest rate, interest rates, Mortage industry, mortgage, mortgage application, mortgage market, new home, portland
