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The all important Jobs report just recently came out and beat Wall Street’s expectations by a large margin. There were 195,000 new jobs last month and also more positive revisions to the last two months of reports. This has caused the bond markets to react negatively which in turn has raised interest rates. Some experts… Read more »
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Category: Refinance
Affect on Mortgage Rates from Bernanke Announcement
Federal Reserve chairman Ben Bernanke announced today that they may be easing the quantitative easing programs as early as this year. This program includes the purchases of mortgage backed securities (MBS) which are the packaged residential mortgages sold by banks and mortgage companies. The slowing of these purchases would take affect if the unemployment rates… Read more »
What to do After You Get a Low Appraisal on Your Home
Mortgage Basics 101: What Is A Home Appraisal? According to the Appraisal Institute an appraisal is a professional appraisers opinion of value. In today’s mortgage and lending environment a home owner or buyer cannot get through the mortgage process without getting one of these valuable reports unless the homeowner utilizes one of the few specialized refinance… Read more »
HARP Refinancing Reduces Monthly Payments
Refinancing volumes remain high for the Home Affordable Refinance Program (HARP). With media spreading the word to homeowners that are paying high rates, many homeowners are benefiting from the HARP 2.0 program updates. HARP 2.0 Home Affordable Refinancing The Home Affordable Refinance Program (HARP) was announced by the Obama administration near the end of 2009 as way… Read more »
FHFA EXTENDS HARP REFINANCING THROUGH 2015
The Home Affordable Refinance Program (HARP) has been extended again and will no longer expire on the original date of December 31 of 2012. Federal Housing Finance Agency (FHFA) has announced the extension of the program designed for homeowners that have been unable to refinance due to their underwater mortgages. The extension was announced to continue the… Read more »
TIME IS RUNNING OUT ON REDUCED MORTGAGE INSURANCE PREMIUMS
FHA loan are becoming more popular as families deal with the after effects of the major economic depression that we saw only a few years ago. With conventional mortgage being more difficult to qualify for with previous credit issue, FHA has become the go to mortgage program for U.S. Families. The Federal Housing Administration has… Read more »
MSHDA Grant Money Running Low
MSHDA first time home buyer grant money is running low for those looking to purchase homes in Michigan. With the program’s inception only a couple of months ago, funds are already running low for buyers purchases homes using the national mortgage settlement grant funds. The current balance as of March 19th, 2013 is at $4,771,560… Read more »
HARP Refinancing Beat 2012 Estimates
HARP refinancing beat 2012 estimates with nearly 1.1 million loans closed last year. Fannie Mae and Freddie Mac released a report for the Federal Housing Finance Agency confirming last year totaled nearly half of the 2.2 million loans completed since the HARP program was announced in 2009.The majority of homes were primary residences with 1.89 million… Read more »
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