Archive for 'Mortgage Rates'

FHA Streamline Refinancing Saves Money

One of the easiest refinances to do is an FHA streamline refinance and we are well versed in the nuances of the program.  If you already have an FHA Mortgage, a Streamline Refinancing is a quick, low-cost option to lower your interest rate and monthly payments.  Below are some advantages:

  • No appraisal required
  • No income verification (Use income from original application)
  • We pull a mortgage only credit report and exclude all other liabilities
  • We ...

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Mortgage Rates On The Move

As is often the case, good economic news translates to interest rate increases. An upbeat market decreases the demand for less risky investments such bonds which, in turn, drives up the yield on mortgage rates. Declining unemployment (8.3% nationwide) and the future meeting of political leaders to draft a bailout package for Greece appear to be the two main reasons why the stock market and interest rates have been on ...

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Payroll Tax Cut Impact on Rates

Over the holidays, you may have read that Congress passed the Temporary Payroll Tax Cut Continuation Act of 2011. This measure/tax cut of 2% is paid for in part by increasing the fees that FNMA, FHLMC and FHA charge lenders (These fees are called Guarantee Fees or “G-Fees”). The payroll tax cut is a short-term benefit but the impact on G-Fees and FHA insurance costs could last a decade or ...

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It’s Finally Here . . .

Rates:
Rates continue to hit record lows driven by the Fed’s announcement last week that it would load up on purchases of long-term government bonds and mortgage securities. The extra demand was intended to drive down long-term interest rates, including those for home loans — and it seems to have worked temporarily. See latest rates below.

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What We Are Hearing . . .

We are hearing from sources that the Obama Administration has gathered with industry experts and is considering options to help stabilize the housing market and stimulate the economy. The Administration appears to be realizing that major refinancing programs and other incentives are needed to keep homeowners who have either no or negative equity (underwater) in their homes. At this point, some of this information is purely speculative. Some of these ...

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