"Mortgage Rumors"

By
Real Estate Agent with LONG and FOSTER REAL ESTATE, INC.

There's a question of what will happen going forward with Fannie Mae, Freddie Mac, FHA, etc. since it seems that the costs for these these loans may continue to rise.  We've seen some of this over the past few years where the  MIP (Mortgage insurance Protection) have had continued increases on FHA type loans. Also, there have been other changes making it a little more difficult for a buyer to obtain a loan. The question is what is the real long range plan? Will the Government continue to increase costs and pull back from supporting and funding these programs?  We'll see, but it does look like that's what they may be doing. If so, then along with any other factors contributing to increased mortgage rates, it seems that private investors will need to step in.  It seems likely this will cause a continued and definite increase in mortgage rates with the return that investors will be looking to gain.   Rich Salla GRI, ABR

Comments (3)

Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

20% down?

I heard that there will be a time when the minimum downpayment required will be 20% down

Apr 19, 2011 12:36 AM
Chuck Carstensen
RE/MAX Results - Elk River, MN
Minnesota/Wisconsin Real Estate Expert

I have a buyer that thinks 20% down is coming soon. I think there will be other programs there but you never know.

Apr 19, 2011 12:40 AM
Julissa Jumper
Select Properties of Fayetteville, LLC - Fayetteville, NC
Fayetteville, NC Real Estate

There's so much pressure on rates that they are certain to rise. Buyers would be smart to consider purchasing now, when they have historically low rates, a large inventory and willing sellers!

Apr 19, 2011 12:52 AM

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