FHA Drops Upfront Mortgage Insurance Premium To 0.01% For Qualified Borrowers

The FHA is making more changes to its flagship FHA Streamline Refinance program.

Beginning mid-June 2012, certain current, FHA-backed homeowners will be able to refinance their existing FHA mortgage into a new one, without having to pay the government-backed group’s new, costly mortgage insurance premium schedule. Continue reading

What Mortgage Rates Are Doing This Week : March 5, 2012

Net Non-Farm Payrolls (2010-2012)Mortgage markets worsened last week as the U.S. economy continued to show that it’s in recovery, and as Federal Reserve Chairman Ben Bernanke publicly hinted at the same.

In a congressional testimony Wednesday, Chairman Bernanke suggested that new, Fed-led stimulus may not be imminent, surprising Wall Street analysts and market traders who, for months, have expected a third round of quantitative easing from the Fed. Continue reading

FHA To Raise Mortgage Insurance Premiums April 1, 2012

Beginning April 1, 2012, the FHA is once again raising mortgage insurance premiums (MIP) on its newly insured borrowers throughout Sacramento and the country.

It’s the FHA’s fourth such increase in the last two years. Continue reading