FHA Changes coming in April to Monthly Mortgage Insurance for FHA loans Mortgagee Letter 11-10 Effective April 18th the Annual Mortgage Insurance will increase 25 basis points. 30 YEAR Term Mortgage LTV 95% and above: Current 90 BPS April 18th 115 BPS LTV 95% and below: Current 85 BPS April 18th 110 BPS 15 YEAR Term Mortgage LTV 90% and above: Current 25 BPS April 18th 50 BPS LTV 90% and below: Current none April 18th 25BPS
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My blog has daily updates with MBS (Mortgage Backed Securities) as this combined with current economic news is what drives interest rates. Good economic news usually is bad for bonds = higher interest rates Bad economic news is normally good for bonds= lower interest rates The bond market and stock market are both active while the markets are open. Investors are either investing in Wall St or running to the safety of bonds depending on market emotion, and current economic news. Economic news that affects both Wall St and MBS (bonds) are jobs reports, manufacturing data, GDP (Gross Domestic Product), housing starts, corporate earnings/ outlook, and inflation to name a few. The higher bonds are = the lower interest rates are. Interest Rates are not included in morning updates due to the factors that affect interest rates, credit scores, location, type of property, loan to value, loan amount, ect. My blog also features changes coming to the Real Estate Market, lending guideline changes, and tips to help address current Real Estate issues. Videos are either hosted via You Tube or at Mortgage Coach’s Utipu account. Let’s make a difference in our world! I hope you enjoy!