Phew, what a busy couple of days! I’m sure at this point you’ve been inundated with emails from loan officers since yesterday morning, so I probably don’t need to tell you that many buyers are qualifying for 5.5% with no points today. We saw a huge drop yesterday in rates, so, rather than harping
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11/26/2008
I only have a minute to post right now, but I wanted to make sure you're aware that there has been a dramatic shift in mortgage pricing this morning. This morning the Fed announced it was going to buy $600 Billion in mortgage assets. This has had a huge impact on rates, with most mortgage rates
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11/25/2008
Earlier this year, we learned that the Jumbo mortgage was going to be a bit bigger for a time. For a year, the limit for mortgages purchasable by Fannie Mae and Freddie Mac was temporarily increased from $417,000 to as high as $729,750 through the beginning of 2009 as a component of the Economic
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11/24/2008
Many of you who work in Connecticut are familiar with a very effective First-Time Homebuyer mortgage program offered by the Connecticut Housing Finance Authority. The CHFA Homebuyer Mortgage Program follows most FHA guidelines, but is restricted in regards to the buyers' income, and offers subsi
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11/17/2008
Last week, we looked at some of the most significant factors that are considered in condominium approval. Let’s examine the 5 methods allowed for approval of a specific condo. Fannie Mae / FHA Approval Fannie Mae and the Federal Housing Administration used to approve condominiums following an exh
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11/03/2008
