usda rural housing loans: USDA Runs out of funds!! - 03/12/10 03:06 PM
There have been quite a few rumblings about the USDA program over the last few weeks, and I just got some concrete news – USDA is on track to run out of funds by the end of April. Following is a portion of the letter from them:
This message is to notify you that program funding for the Single Family Housing Guaranteed Loan Program will likely be exhausted by the end of April, 2010. Once funding is exhausted, the Agency will not issue Conditional Commitments “subject to receipt of appropriated funds." This is because it is not certain when additional funding will … (5 comments)
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usda rural housing loans: Interest Rates Are Coming Back Down - 07/20/09 04:56 PM
Mortgage rates fell to the lowest level since May as home-loan refinances surged. Rates had reached record lows of 4.5% for a 30yr fixed rate loan in April until the end of May where they spiked over 1½% in two days time.
Since then they've slowly edged back down - Today the average 30-year rate fell to 5.14 percent, down from 5.20 percent. The 15-year rate was 4.63 percent.
Some more technical data: - Overall home loan applications rose 4.3 percent this week: * Purchase applications fell 9.4 percent * Refinance applications rose 18 percent - The global mortgage crisis has cost the world's financial firms almost $1.5 trillion in losses so far. - … (5 comments)
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