HARPII and FHA Streamlines:
Well, if you have neighbors that are struggling with the refinance of their home, because the values
have gone down (even though they have owned the home for 3-5 years!), FHA Streamlines and HARP II loans are a great help!
Typical Loan To Values on HARP loans : 125% - if property is acceptable for a "Property Fieldwork Waiver" value(no appraisal).
Loan To Value on FHA Streamlines are "case by case".
RATES:
Well, let's take a Look at "why" Rates are going UP:
- new home construction is up (highest since October 2008)
- Germany is backing the ECB's approach to dealing with the Euro crisis
- signs of an improving economy (really?)
MBS has been going down (the FNMA 3.0 was at 102.19 last I checked) and the 10 year yield up to 1.83-1.86 range
Worldview:
What will be interesting is what happens when all those folks in Europe come back from their August vacations and there is more scrutiny on what is really going on with the ECB and the Euro and struggling countries that are part of the Euro crisis. And let's not forget that demand in India and China is not sustainable and has been slowing down.
Hang on to your hats...the rest of the year could be a wild ride.
- Al Rodenburg, NMLS# 272775
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