Danny Salas
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Update:
Temporary Loan Limits Return for all FHA Loans in High Cost Areas
Recently, the President signed into law a new bill H.R. 2112, called the Consolidated and Further Continuing Appropriations Act of 2012. In response to this new legislation, HUD has issued Mortgagee Letter 2011-39 detailing the acceptance and timing of the return to higher FHA loan limits.
Visit HUD's FHA Mortgage Limits webpage for a simple way to find out your loan limits
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Archive for August, 2009
Chico, CA Interest Rates Market Report – Economic Influences – Aug 17, 2009
Stocks lost 250 Points this last week...but are due for a reversal
Locking Seems Prudent
I think we’re going to experience a short term increase in rates. Right now, rates are great. Stocks have been suffering due to fears of a slower than expected world economyic rebound. But I think stocks are going to take an upswing, later today. Couple of things I’m looking at. The Federal Reserve is set to announce, this Thursday, that they will have a bond sale. Since the Mortgage Credit Crisis, every time the Fed annouces a bond sale, interest rates don’t like the news. If history tells us anything…we’d better learn from it.
How Much Time do You Have?
We have had a couple of fantastic days, bringing interest rates down to 5.125% with an APR of 5.417%, so again, in a short escrow, with 30 days or less, you might want to lock in. If you’re in a 60 day escrow, I still think that we are ready for rates to come down, when the third quarter earnings reports are released.
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Daniel C. Salas
CA DRE License #: 01167493
NMLS #: 232306
Access Real Estate Lending is a dba of
American Pacific Mortgage Corporation
CA DRE License #: 01215943
NMLS #: 1850
Licensed by the Department of Corporations under the California Residential Mortgage Lending Act
An Equal Housing Lender
