mortgages: Home Mortgages: Rates Up, Requirements Easing
- 04/14/17 04:00 AM
Home Mortgages: Rates Up, Requirements Easing The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current 4.1% according to Freddie Mac). However, a less covered aspect of the mortgage market is that requirements to get a mortgage have eased while rates have risen. The Mortgage Bankers Association (MBA) quantifies the availability of mortgage credit each month with their Mortgage Credit Availability Index (MCAI). According to the MBA, the MCAI is: “A summary measure which indicates the availability of mortgage credit at a point in time.” The higher the index, the … (2 comments)
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#ChristianPenner, #MortgageBrokerWestPalmBeach talks about #RealEstateWestPalmBeach. He also serves other Local Areas and provides home #MortgageSolutionsforPalmBeachGardens, #Jupiter, … (0 comments)
mortgages: FHA TO REDUCE ANNUAL INSURANCE PREMIUMS ON MOST MORTGAGES
- 01/11/17 02:55 PM
FHA TO REDUCE ANNUAL INSURANCE PREMIUMS ON MOST MORTGAGESModest reduction expands credit access and reflects improved economic health of FHA WASHINGTON – As the nation’s housing market continues to improve, U.S. Housing and Urban Development Secretary Julián Castro today announced the Federal Housing Administration (FHA) will reduce the annual premiums most borrowers will pay by a quarter of a percent. FHA’s new premium rates are projected to save new FHA-insured homeowners an average of $500 this year. FHA is reducing its annual mortgage insurance premium (MIP) by 25 basis points for most new mortgages with a closing/disbursement date on or after … (1 comments)
mortgages: FHA TO REDUCE ANNUAL INSURANCE PREMIUMS
- 01/11/17 01:12 PM
FHA TO REDUCE ANNUAL INSURANCE PREMIUMS Frequently Asked Questions 1. When will the FHA’s new annual premium rates take effect? The reduction is effective as of January 26, 2015. Borrowers with case numbers assigned on and after January 26, 2015 will be eligible for reduced annual mortgage insurance premiums. 2. What steps do I need to take to take advantage of these new lower premiums? Contact an FHA-approved lender for information regarding FHA’s new annual mortgage insurance premiums. 3. What will the impact of FHA’s new premiums be on my monthly mortgage costs? Future borrowers who qualify for FHA’s new … (0 comments)
mortgages: MMG Weekly: Good News Revives Taper Talk
- 12/10/13 08:06 PM
Questions, Comments or For more information you can email Christian Penner at TheMortgageTeam@ChristianPenner.com or visit us online at www.ChristianPenner.com or you can call us directly at: 561-316-6800 ChristianPenner.com MMG Weekly: Good News Revives Taper Talk http://www.christianpenner.com/mmg-weekly-good-news-revives-taper-talk/ If you find this helpful please let us know, just leave us a comment review. Just click Give A Review. A simple Thank You message means a lot to us.
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mortgages: U.S. seniors lock in reverse mortgages before rules change
- 10/09/13 03:35 PM
By Margaret Chadbourn (Reuters) - American seniors grappling with strained savings following the deepest recession in generations will soon face new hurdles in tapping a tool some have used to help finance retirement: the federal government's reverse mortgage program. An upcoming change in rules will cut the number of borrowers eligible to draw down cash against the value of their homes by 22 percent, according to an estimate from Reverse Market Insight, and some homeowners are rushing to beat the deadline. "I had limited options and was up against a wall. It was grim," said Cheryl Honeyman, a widow living in … (0 comments)
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#Christian Penner, #Mortgage Broker West Palm Beach talks about #Real Estate West Palm Beach. He also serves other Local Areas and provides home #Mortgage Solutions for Palm Beach Gardens, #Jupiter, #Boca Raton, #Wellington and … (0 comments)
mortgages: Housing Crash Fades as Defaults Decline to 2007 Levels
- 05/08/13 12:37 AM
(Bloomberg) - Six years after the start of the foreclosure crisis, American homeowners are paying their mortgages like the housing crash never happened. First-time delinquent home loans fell to 0.84 percent of the 50.2 million mortgages in March, the first month below 1 percent since 2007, before a wave of defaults led to the financial crisis, according to a report today by Lender Processing Services Inc. The rate of first-time defaults, defined as loans that went from performing to at least 60 days delinquent, peaked at 2.89 percent in January 2009. The decline in new problem loans shows that the recovering … (2 comments)
Good Faith Estimates — anyone actively comparing mortgage rates in West Palm Beach receives them. Yet GFEs seem full of the kind of fine print that we don’t necessarily spend time worrying over: a glance at the bottom line would seem to suffice. Sort of like the kind of golf rule (26-1) that just cost Tiger Woods his shot at a 5th green coat. Like Mr. Woods, even if we do everything else right, not paying close attention to the fine details can cost us. But quite unlike Rule 26-1, the details in GFEs aren’t there to limit our … (0 comments)
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