Increasing the minimum down payment required for a Federal Housing Administration (FHA) loan from 3.5 percent to 5 percent could be a double whammy, affecting both potential homebuyers and the economy as a whole according to David H. Stevens, FHA Commissioner. At the same time, a lower loan to value...
The National Association of Realtors (NAR) recently released a very interesting report on housing affordability; one that runs counter to most of the recent studies about this area of the economy. The fourth annual National Housing Opportunity Pulse is conducted by the NAR's Housing Opportunity Program...
Freddie Mac is reporting interest rates of 5.62 percent for a fixed rate 30 year loan and Fannie Mae says it's about the same. So how come your lender just quoted you 7.25 plus 2 points? It's all about risk. A lender wants a certain amount of assurance that, if he lends out 100,000 he is going to eventually...