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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 March 5th, 2010
Chico, CA Interest Rates Market Report – Economic Influences – March 5, 2010
Nailed It!
Right on the Button! We watched rates, yesterday, until the afternoon. Gained 19 basis points…had a re-price for the better two times, for a total of .25% and Locked! On a $200,000 loan that would save a client $500 in fees, to get into a loan. Not to mention that it transitioned us into a lower interest rate, by .125%. So, again, saving clients over $5,400 in monthly payments, through the life of a 30 year fixed rate loan. That’s why we watch the market, so closely. I LOVE saving clients money!
Unemployment Rate Holds Steady
The Labor Department reported that the U.S. Economy only lost 36,000 jobs, last month. They expected well over 50,000 loses, however, the bigger surprise was that the unemployment rate held at 9.7%. That was surprising, as there are so many claims for Emergency Unemployment Benefits. So, we’ve dropped over 50 basis points, this morning. That’s $1,000, on a $200,000 loan. A lot of money, for a first time home buyer!
Turning To A Lock Mode
Turning To A Lock Mode
Locking Advice
I’d Lock
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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
