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Orange County, CA — Feb. 24, 2010 (FreeRateUpdate.com) – Warning: A little technical. This is the Whole Wheat 8 Grain Variety of our ongoing commentary on the jumbo mortgage market. As the top chart shows, 30-year fixed rate jumbo mortgage rates are going for a post-crisis low, a rate not seen since 2005. With a few scattered exceptions, the rate you get today is about as low as it has ever been in history. Conforming rates are still very close to all-time lows. As the second… Read more
LOS ANGELES, CA — Feb. 18 (FreeRateUpdate.com) – Standard and Poor’s released an excellent research piece this week detailing the tidal wave of short sale and foreclosed homes that will be coming on the market this year. This is the dirty secret inside the housing industry. This risk is widely known by the people that work in the guts of the mortgage business and that is why lending requirements have been so tight for the last two years. Client’s didn’t understand the need to have 20-30%… Read more
Recently much of the news regarding jumbo mortgages has been about the limited availability of true jumbo loans as well as the strict underwriting of conforming jumbo mortgage products. Conforming jumbo mortgages are backed by Fannie and Freddie and have a loan limit of to to 729k with higher jumbo loan limits coming in some high cost areas. Conforming jumbo loan limits vary from county to county based on median home values. Jumbo Mortgage Rates are Excellent True jumbo mortgages, above… Read more
On April, 05 2010, MI will be boosted to 2.25 and minimum credit scores will be raised. Read about this and other NEW FHA Loan Guidelines.
Delaware Mortgage - DE Mortgage Blog - John Thomas talks Delaware mortgages.
Minnesota Mortgage - MN Mortgage Blog - Josh Manier talks Minnesota mortgage.
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