Minnesota Mortgage Blog - Mortgage and Real Estate News You Can Use

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Mortgage industry news and insights from a 15+ year industry expert. Mortgage and Real Estate News You Can Use



Minneapolis, MN: Currently on Condominiums and attached Townhome units (PUD), Fannie Mae requires insurance coverage of the lesser of 20% of the unit’s appraised value or replacement cost. For applications dated on or after January 1, 2012, 100% replacement insurance coverage of the exterior and...
What does your credit score say about you? Everyday I am looking at credit reports, and making credit decisions. It amazes me sometimes the people who call and say they have good credit, when they don't. It also amazes me the people who have good credit, and fear they can't get a loan. So What’s ...
FHA Extends Waiver of Anti-Flipping Regulations Through 2012. Minneapolis, MN: In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, the Federal Housing Administration (FHA) will extend FHA’s temporary waiver of the anti-fli...
No more excuses. Go buy a home! The housing market has changed dramatically, and everyone should be taking advantage of some of the most affordable home prices, and lowest mortgage rates in history. You may be hearing a lot in the news today that in some markets it is cheaper to own than it is do...
THE FED LEAVES RATES UNCHANGED Minneapolis, MN: Today the FED (Federal Open Market Committee) voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. Mortgage bonds are mostly unchanged since the Fed’s announcement, giving mortgage rates in Minnesota an...
Have mortgage interest rates bottomed out? The most recent Freddie Mac's weekly Primary Mortgage Market Survey (www.FreddieMac.com) has the most recent average 30-year fixed rate mortgage at 4.00%  - about the same as it has been for the past few months. Over recent months, the average 30-year fi...
Adjustable Mortgages Hit New Low Historically in the United States, adjustable rate mortgages have always accounted for a small portion of overall mortgage loan choices. During the boom a few years ago, they jumped up dramatically, but still held just a small portion of the market. Today, they ho...

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