Mortgage news and helpful tips

Welcome back, I have prepared a brief summary of mortgage rates for the most common loan programs. As you know, rates can vary greatly based on credit.

After rising for two weeks, mortgage rates moved a little lower this week. Slower than average economic growth and low inflation persuaded investors to.

Though mortgage defaults have been falling for several months, bank repossessions (where borrowers actually lose their homes) have been climbing ever higher.

The Department of Housing and Urban Development (HUD) and the Department of the Treasury (DOT) announced improvements to the existing Making Home Affordable.

After announcing last week that it was lowering upfront insurance premiums
from 2.25% to 1.0% on Sept. 7, the Federal Housing Administration said it’s pushing back implementation until October

Rates are now the lowest that they have been in more than 40 years!. While there are many complicated factors that go into determining rates.

While there is both good news and bad news for FHA mortgage applicants, this premium restructuring will help to keep FHA stable in the long run.

Fannie Mae has announced stiffer penalties to consider if you decide to walk away from a mortgage that you can afford to pay. Starting in the fall, Fannie Mae will disqualify borrowers for a period of seven years if they choose to default on their mortgage even though they have the ability to pay.

Here's our Weekly Rate Summary! Don't forget to come back and see what's new and if you can comment on our articles

With minimal economic news during our holiday week, mortgage rates have continued at the lowest they have been for decades. Last week ended with mortgage rates slightly lower while the volatility in mortgage markets and other financial markets stayed pretty high. Without major changes in the financial markets, sudden movements in rates were known to stir during the holiday week.