[cherry_row] [cherry_col size_md="12"] HUD announced 1 hour after President Trump was sworn in that the recent reduction of the FHA Mortgage Insurance Premiums(MIP) has been suspended. This falls in line with what I indicated could happen in my blog FHA Drops Mortgage Insurance Rates – But ... » Learn More about Trump Already at Work – Suspends FHA Mortgage Insurance Premium Reduction
housing affordability
FHA Drops Mortgage Insurance Rates – But Will It Stick?
FHA took a bold step into 2017, announcing that they will reduce the annual mortgage insurance premiums most borrowers will pay by a quarter of a percent. What was really bold is they decided to do it a month after HUD Secretary Julian Castro indicated that even though the FHA reserves were at 2.3%, ... » Learn More about FHA Drops Mortgage Insurance Rates – But Will It Stick?
Fed Increases Rate 1/4% – Mortgage Rates Jump
The Federal Reserve increased their overnight Fed Funds rate by .25% to .50-.75%. The bond market seemed more concerned about Fed Chair Janet Yellen's press conference, and if the Fed is behind the curve, and moving too slow. Yellen indicated that they are planning three more rate adjustments in ... » Learn More about Fed Increases Rate 1/4% – Mortgage Rates Jump
Conforming Loan Limit Increased the First Time in 10 Years
The Federal Housing Finance Agency (FHFA) today increased the conforming loan limits for Freddie Mac and Fannie Mae from $417,000 to $424,100. This is the first time the loan limit climbed above $417,000 in 10 years. The baseline loan limit was established by the Housing and Economic Recovery ... » Learn More about Conforming Loan Limit Increased the First Time in 10 Years
California Market at a Glance
October had very solid numbers for California real estate. Over the next couple months the effect of the interest rates jumping substantially after the election will permeate into the affordability index. The rate increase is not reflected in these numbers. It's normal for fence sitters to jump ... » Learn More about California Market at a Glance