best lowest georgia fayette fulton gwinnett county mortgage jumbo fixed arm rates fha va usda home prices bankrate lowermybills lendingtree: What's Ahead For Mortgage Rates This Week : January 31, 2011
- 01/31/11 01:31 AM
What's Ahead For Mortgage Rates This Week : January 31, 2011 Markets improved as positive economic data was overshadowed by geopolitical strife. A flight-to-quality drove buy-side activity in mortgage bond markets, which, in turn, helped conforming rates fall across the state of Georgia. Last week marks the first time this year that mortgage rates fell on a week-over-week basis, and considering why rates fell, it points to the fragile nature of the global economy. By all accounts, last week showed that the U.S. economy is in recovery. Housing data rises to its best levels in 8 months (LA Times) Consumer sentiment (0 comments)
FHA Flipping expiration: FHA flip waiver expires 2/1/2011 – any contract entered into on or after this date, where the seller has been on title for less than 90 days is not eligible for FHA financing There has been no notification from HUD that there are plans to extend this waiver. Most lenders still have a 6 month policy and a documentation requirement to prove any monies spent on the FLIP.I expect most lenders to remain the same regardless of what HUD decides.