Posted by Jim Hungerford on March 16, 2012 · Leave a Comment
Week in Review: Rates climbed after the Fed announcement. The announcement indicated some degree of improvement within the economay which caused investors to shy away from bond market (causes rate to rise). The statement also confirmed investors concerns about inflation. The PPI and CPI inflation data released this week clearly reflected the impact of higher … Read more
Filed under Mortgage Market Update · Tagged with Conforming loan limits, Construction, construction loans, conventional, credit mortgage, FHA, financing, first time homebuyer, home mortgage, home refinancing, interest rate, loan, Mortage industry, mortgage, mortgage application, oregon, portland
Posted by Jim Hungerford on March 16, 2012 · Leave a Comment
Conforming Limits: 1 unit $417,000; 2 unit $533,850; 3 unit $645,300; 4 unit $801950 These rates do not reference a specific loan program; rather, they reflect general market conditions, which are subject to change at any time. Credit risk pricing and how it impacts your interest rate/discount points (cost to buy rate down): … Read more
Filed under Mortgage Market Update · Tagged with all in one construction, application, Conforming loan limits, credit mortgage, FHA, Finance, first time homebuyer, home refinancing, interest rate, investment property, mortgage, mortgage application, mortgage market, Mortgage Rates, oregon, portland, remodel
Posted by Jim Hungerford on March 16, 2012 · Leave a Comment
FHA introduces higher premiums for case numbers assigned after April 9, 2012 (active loan and subject property has been confirmed). This increase is a result of the Temporary Payroll Tax Continuation Act of 2011. FHA requires Upfront Mortgage insurance (increased from 1% to 1.75%, typically financed into new loan) and annual mortgage insurance (monthly payment) … Read more
Filed under Financial News · Tagged with application, Approval, credit mortgage, FHA, Finance, first time homebuyer, home mortgage, home refinancing, HUD, interest rate, Mortage industry, mortgage, mortgage application, mortgage market, Mortgage Rates, oregon, portland
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 December 13, 2011 · Leave a Comment
Last week there was little economic data in the US that impacted interest rates. Europe was the main focus! This weeks big event will be Tuesday’s Fed meeting. Investors will be watching for hitns of additional stimulus. Events Next Week: Tues 12/13 Fed Meeting Retail Sales 10-year Auction Wed 12/14 30-yr Auction Thur 12/15 PPI … Read more
Posted by Jim Hungerford on December 8, 2011 · Leave a Comment
VA loan limits are calculated differently than any other program. VA doe snot impose a maximum amount that an eligible veran may borrowe using a VA-guaranteed loan; however loan limits do establish the maximum guaranty on a loan. The maximum guarnaty amount (available for loans over $144,000.00) is up to 25 % of the 2012 … Read more
Filed under Mortgage Market Update · Tagged with Conforming loan limits, home loans, interest rate, Mortage industry, mortgage, mortgage application, mortgage market, Mortgage Rates, new home, oregon, veteran
Posted by Jim Hungerford on December 6, 2011 · Leave a Comment
Effective Wednesday, December 7, 2011, new Conditional Commitment requests for a refinance transaction will be issued by the Agency utilizing a 1.5 percent upfront guarantee fee and a 0.3 percent annual fee. The new fee structure for FY12 is as follows: 2 percent upfront guarantee fee for purchase transactions; 1.5 percent upfront guarantee fee for … Read more
Filed under Home Buying · Tagged with guaranteed loan program, home mortgage, home refinancing, Mortage industry, mortgage, mortgage application, mortgage market, Mortgage Rates, oregon, portland, rural housing
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 23, 2011 · Leave a Comment
VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase of a home which must be for their own personal occupancy. To get a loan, a veteran must apply to a lender. If the loan is approved, VA will guarantee a portion … Read more
Filed under Home Buying · Tagged with Approval, Conforming loan limits, Finance, financing, first time homebuyer, home mortgage, home refinancing, HUD, interest rate, interest rates, Mortage industry, mortgage, mortgage market, Mortgage Rates, new home, oregon, portland, VA, Va lending, Veterans
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
