by kramoltz@hotmail.com | Feb 28, 2015 | Mortgages + Lending
Freddie Mac reported that mortgage rates set new record lows the first week of September. Rates on 30-year fixed-rate mortgages averaged 4.12%; the lowest since 1971. That’s down from 4.22% the week before, and from a 2011 high of 5.05% in February of this year. Rates...
by kramoltz@hotmail.com | Feb 28, 2015 | Mortgages + Lending
Rumblings from the loan industry are that loans could be much harder to get in the future. Restrictions are being imposed upon government related loans, which are big part of current financing. Nationally, Fannie Mae, Freddie Mac, and the Federal Housing...
by kramoltz@hotmail.com | Feb 28, 2015 | Home Buying, Mortgages + Lending, Selling Your Home
There is good news from the Federal Housing Administration (“FHA”) for real estate investors. Late last month Commissioner David H. Stevens extended FHA’s temporary waiver of the agency’s “anti-flipping rule.” Flipping is the practice of selling a home in a relatively...
by kramoltz@hotmail.com | Feb 28, 2015 | Mortgages + Lending
Mortgage rates in 2010 were the lowest in six decades. Will they stay low, or will they rise, making the purchase of a home more expensive in 2011? In November of 2010, the 4.17% interest rate was the lowest since Freddie Mac began tracking rates in 1971, and the...
by kramoltz@hotmail.com | Feb 28, 2015 | Mortgages + Lending
A reverse mortgage usually pays a lump sum and is not used to acquire a property. Because these characteristics differ from the type of loan used to buy a home that we are all used to, it has been given the “reverse” moniker. Typically a reverse mortgage borrower uses...
by kramoltz@hotmail.com | Feb 28, 2015 | Mortgages + Lending, Real Estate Facts & Figures
First, the good news. Rates on 30 year mortgages matched the lowest level in decades by falling to 4.32%. According to Freddie Mac, this is the lowest rate since 1971. The rate on 15-year fixed loans fell to 3.75%, the lowest since records began in 1991. The 15-year...
