MARKET UPDATE – JANUARY 2017

The FHA announced this week they are cutting mortgage insurance premiums for borrowers, a move designed to counter the effects of rising interest rates. The annual fees that the FHA charges to guarantee the mortgages it backs are being lowered by a quarter of a percentage point which, equates to an annual cost of 0.60 [...]

By |2018-09-08T06:28:25+00:00January 13th, 2017|Market Update|0 Comments

Market Update December 2016

It’s official. Low mortgage rates may soon become a distant memory as the FED raised rates a quarter of a point this month. Since November, interest rates of 30-year conforming mortgages have shot up more than 50 basis points which has resulted in the highest mortgage rates in almost two years. This is obviously concerning [...]

By |2018-09-08T06:28:25+00:00December 20th, 2016|Market Update|0 Comments