Northwest Indiana Real Estate - Mortgage Daily
Some quick glimpses into the markets this morning:
- Stocks opened lower by more than 100 points right away, typically a good indicator for mortgage rates going lower
- Treasuries opened with higher prices, resulting in lower rates, again good news.
- Government statistics again showed a slow or even benign recovery, with inflation numbers almost flat, good news for mortgage rates
- The Scott Brown win for United States Senate last nite may portend better fiscal restraint by the United States government. If this is the case we most certainly will see rates stay low.
- On a negative side:
FHA changing rules for loans, making it even harder to get a loan for first time home buyers. One change will have little to no effect, that being the requirement that to get the 3.5% down payment you have to have a credit score of 580 ... most lenders are requiring 620 or better already anyway. The other though is an increase in the Mortgage Insurance Premium from 1.75% to 2.25% ... this will cost buyers more every month. - Remember that in Northwest Indiana we have a much higher FHA loan limit, allowing a lot more buyers to make use of this program. Call me if you need details.
Posts
4 comments:
I had my mortgage as a heloc and my bank account and it was a dream.No fees,and interest calculated daily.I used it to fund the DP on the presale and then when I assigned, it was so easy to just throw the money back against the amount outstanding.
west virginia foreclosures
Many investors are confused, scared and lost confidence in investing in real estate and who can blame them? The truth is that many investors know only one way to acquire a property, and now the banks do not lend to someone other than your own home, and loan programs are not viable for investors.
I used it to finance the RFP in advance and then when I assigned it was so easy to just throw money to the unpaid amount.
The smallest patch of green to arrest the monotony of asphalt and concrete is as important to the value of real estate as streets, sewers and convenient shopping.
Post a Comment