MORTGAGE LOCK ADVISORY 

February 29, 2012, 6:30 AM PST

Click for Lock Advice Updated Several Times Daily       

Mortgage Interest Rate lock Advice for locks within 8 days: FLOAT

Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.16.

 

30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT

 

MORTGAGE MARKET INDICATORS 

National Average Fixed Rate Mortgage 3.95%   
MBS (3.5%) - 103.72, High: 103.72, Low: 103.56   
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Asian & European Stock Market Indexes Up 0.429%   
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MORTGAGE NEWS BRIEFS

 

Galante assures Congress FHA 'not broke'
By Jon Prior* February 29,
Federal Housing Administration Commissioner Carole Galante assured lawmakers again the agency would not need a taxpayer-funded bailout.
"The FHA is not broke," Galante said at a house subcommittee hearing Tuesday.
Read More HousingWire

 

FHA to Increase Mortgage Insurance April 1, 2012
The FHA Annual premium, paid monthly will increase by 0.10 to 1.25% below $625,000 and 0.75 above to 1.85%.  The UFMIP will be increased from 1 percent to 1.75 percent of the base loan amount. This increase applies regardless of the amortization term or LTV ratio. FHA will continue to permit financing of this charge into the mortgage. This change is effective for case numbers assigned on or after April 1, 2012.  Mortgagee Letter 12-037 
 

FHA 203k Renovation Loans - All You Need To Know - Nine Minute Video 

Provide Your Clients With Options - Energy Efficient Mortgages - 4 Minute Video

Education is Consumer's Only Real Protection. 

Your FHA GuruBill Ladewig

800.664.7283 (SAVE)

Bill@YourFhaGuru.com

Website

 

 

 

Bill Ladewig is a Mortgage Broker Licensed by the California Department of Real Estate 00968137

NMLS #291249

 

 

 

 

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Bill Ladewig Your FHA Guru - FHA and VA Loans Since 1970

Escondido, CA

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