When people hear about FHA loans, the immediate thought is generally – oh no, that’s not for me. That’s what I thought at least. But many people don’t realize there are actually great benefits to getting an FHA loan. There’s a great article published on CNN Money that addresses the reasons people should consider an FHA loan, and here are some highlights from that piece:
The National Association of Realtors announced today that existing home sales in August declined 2.7 % when compared to July 2009. While home sales were down, the inventory of unsold homes also fell 10.8 % to 3.62 million units, an 8.5 month supply.
Treasury prices are slightly lower this morning as the big day has finally arrived. The Fed is expected to keep its target funds rate at 0.25% but investors will be most interested in the post meeting language. Specifically, the market will be looking for any mention of exit strategies from the extraordinary liquidity measures that have been implemented over the past year.
Most people believe mortgage rates are set by the Feds, but this isn’t necessarily accurate. However, the Fed does influence mortgage rates. Here’s how it works:
The Federal Open Market Committee (FOMC) announced today that it will again hold its Fed Funds rate at the 0—0.25 percent range. This is the rate at which banks loan money to one another, and impacts rates for adjustable rate mortgages and home equity lines of credit.
Treasury prices are slightly up this morning ahead of this week’s record bond auctions and Fed policy meeting. During the course of the week, the Treasury is slated to auction a record $112 billion of Treasury notes.
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Quicken Loans Capital Markets Update for September 18, 2009 Yesterday, Treasury prices rose as Philadelphia Fed report showed a drop in an employment index. The [...]
Yesterday, Treasury prices fell as CPI and industrial production both rose more than expected giving further evidence that the recession has ended.
Treasury prices were up for the first time in 3 days this morning. In economic news, U.S. mortgage applications fell 8.6% last week, down from a 3-month high.