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fannie mae: The Best Borrowers Now Feel Interest Rate Pain - 03/06/08 10:48 AM

Bloomberg.com on 3/5/08 reported that the economic stress from both sub-prime mortgage loan failings and decreasing housing values is now being felt by all borrowers. The people taking out mortgages who have excellent credit and qualifications, the best borrowers, now feel interest rate pain due to investors requirements for yield on mortgage-backed securities.
 "...[the] yield that investors demand to own agency mortgage-backed securities over 10-year U.S. Treasuries reached the highest [spread] since 1986, boosting the cost of loans for homebuyers considered the least likely to default.
The difference in yields on the Bloomberg index for Fannie Mae's current-coupon, 30-year fixed-rate mortgage bonds and … (0 comments)

fannie mae: 7 Mortgage Related Details in the Economic Stimulus Bill You Should Know - 02/13/08 12:47 AM
 
1)  The new loan limits go into effect on CONVENTIONAL mortgage loans originated beginning on July 1, 2007 and ending on December 31, 2008
2)  Conventional Loans can be made to the HIGHER of the current conventional loan limit ($417,000) or 125% of the area median home price as determined by HUD Secretary. So unless the area median home price in your area is greater than $333,600 you will see no increase to the conventional loan limits.
3)  FHA loan limits are available for loans "for which the mortgagee (lender) has issued credit approval for the borrower on or before December 31, 2008. … (13 comments)

 
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Ken Stampe iBrandPlan

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