The Beverly Hills Real Estate blog Friday 7-17-09
Good morning and welcome. It's finally Friday! Another warm one for the southland much like yesterday. Friday means, I go to the MS rehab center at UCLA for the day. Tomorrow we poat the open house guide for you.
Today sunny and warm like yesterday.
From Car this news note The appeal of 3.5% Down: FHA mortgages increase in popularity
A recent survey by Zillow.com found that more than one-third of buyers do not plan to make down payments larger than 10 percent, while nearly one-fifth do not plan to issue a down payment. Since loans insured by the Federal Housing Administration (FHA) only require a 3.5 percent down payment, these loans have risen in popularity among buyers.
Last month, the share of applications for government-insured mortgages rose to its highest level since November 1990, accounting for nearly 36 percent of all mortgage applications, according to the Mortgage Bankers Association. In 2005, the share of government-insured mortgages stood at less than 6 percent.
To read the full story, please click here
That's it, have a great today!
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