interest rates: Is Armegeddon upon us...again?
- 05/28/09 07:51 AM
Hello Everyone - Dave Andrews your RED-headed Mortgage Guy with something notable, Periodically, things happen in the market that need some explainin'. Today is one of those days. If you haven't heard the last 48 hours has not been very kind to interest rates. Two days ago I was quoting 4.875% (5.1% APR) on a 30 year fixed rate conventional loan. Today I'm quoting 5.375% (5.55% APR). As I have said in recent sales meetings, when rates decide to move up it will be quick & ugly. What we've seen the past few days may be the beginning of higher rates. … (4 comments)
interest rates: Hello Higher Loan Limits
- 02/27/09 08:54 AM
Hello, your Red Headed Mortgage Guy, Dave offering some interesting information. NEW FHA Limits have returned. Speaking of FHA, remember that Mortgagee Letter 2009-07 establishes the new FHA loan limits set forth by the American Recovery & Reinvestment Act of 2009. Things to note: new loan limits are for FHA loans that receive approval in calendar year 2009, not farther out; changes apply to the 203b (basic loan), 203h (disaster victims), & 203k (rehab loan); the national FHA floor limit remains at 271,050; the FHA ceiling for high value areas is 729,750; lastly the national reverse mortgage limit increases from 417,000 to … (0 comments)
interest rates: 4.5% interest rates - Myth or Reality - Part II
- 12/10/08 08:28 AM
Hello, your Red Headed Mortgage Guy, Dave offering some interesting information. A few days ago I discussed the story that was in the news about 4.5% interest rates. In my article I forgot to mention that the "original" story was referring to 4.5% interest rates for "purchases" of homes to stimulate the economy. Well, today I was quoting 4.875% on a 30 year fixed rate loan at 1 point + fees (APR @ 5.25%) - of course this rate was for good credit, good equity, and good income and assets to support the new, LOW payment. This is a "real" 30 year fixed … (6 comments)
interest rates: 4.5% Interest Rates - Myth or Reality
- 12/08/08 10:52 AM
Hello, This is Dave, your Red Headed Mortgage Guy offering some interesting information. I'm not sure if it's a rumor or as I read a "leak". however here's my take on the 4.5% interest rates that made the news last week. With what we have seen this year, I will never say something "isn't" possible. I was just glad to see 30 year fixed rate interest rates around 5% for a day and they seemed to have settled a little above 5%. It doesn't mean that can't make their way down into the mid-4% range. Early November I was quoting around 6.5% on … (5 comments)
Hello Everyone - Dave Andrews your RED-headed Mortgage Guy with something notable,;)
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