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Ted Rood
Home Mortgage Loan Advisor,  First Bank
1 First Missouri Center
St Louis,  Missouri  63141
"Higher rates/home prices and the expansion of low down payment options has definitely impacted buyers' debt ratios. Increased property tax and insurance costs haven't helped either."    View Comment
"This survey seems pretty meaningless. if you ask me. 3% down payment programs are widely available for the vast majority of homebuyers, and closing costs vary WIDELY by state and locality. If I'm a potential buyer and read I need 26K or more to buy a house, I'm probably renewing my lease."    View Comment
"I have no doubt that rising rates and home prices have slowed home sales, Jim. Higher payments due to increased loan sizes/higher rates means less buyers qualify, decreasing demand, and boosting inventory."    View Comment
"Wow, I feel a LITTLE better about my pipeline after seeing "the worst purchase mortgage demand for a 3rd quarter in the survey's history"! Not a lot better, but a little, at least."    View Comment
"It's true there are downsides as well. Wasn't intending to review both programs in their entirety in one piece, due to length. Yes, there are income limits, Yes, FHA rates "can" be lower, although MND shows best ex for FHA at 4.7% and 4.39% on FHA (so less than 3/8% difference). I was addressing the difference between FHA MIP being cancellable (previously) and NOT cancellable for lifetime of the loan as it is now. Yes, borrowers can ask their servicer to remove conventional PMI..."    View Comment
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