Mortgage Updates

July 26, 2011

Is An FHA Mortgage Better Than A Conforming One?

FHA vs Conforming Mortgage Rates 2005-2011

The FHA is insuring a greater percentage of loans than during any time in recent history. In 2006, it insured roughly 5 percent of the purchase mortgage market. Today, it insures one-quarter. ”Going FHA” is more common than ever before — but is it better?

The answer — like most ...

View More
July 18, 2011

What Is Annual Percentage Rate (APR)?

Truth-In-Lending snapshot


More commonly called APR, Annual Percentage Rate is a government-mandated mortgage comparison tool. It measures the total cost of borrowing over the life of a loan into dollars-and-cents.

A loan’s APR is printed in the top-left corner of the Federal Truth-In-Lending Disclosure, as shown above. When quoting an interest rate ...

View More
March 5, 2011

FHA : Monthly Mortgage Insurance Premiums To Rise April 18, 2011

FHA Mortgage Insurance Increase April 18 2011For the third time in 12 months, the FHA is changing its mortgage insurance costs.


Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points.


The change will add $250 to an FHA-insured homeowner’s annual loan costs ...

View More
Jan. 27, 2011

FHA Loans: Opening Your Doorway to Homeownership in the S.F. Bay Area

During the Great Depression, the federal government sought to create a stable platform for economic growth, and that platform was homeownership. Through bolstering the rate of homeownership, the feds felt citizens would be in a better position to give back to the economy.


With that in mind, in 1934, the ...

View More
Nov. 13, 2010

WEEKLY HOT RATES for the week ending 11/9/2010 as provided by Guarantee Mortgage

WEEKLY HOT RATES for the week ending 11/9/2010 as provided by Guarantee Mortgage

Wow!  How low will rates go this year?

This will certainly help buyers get into our pricey S.F. real estate market.

30 Yr Fixed Conforming to $417K     4.000%
"1.000" POINTS     APR ...

View More
Nov. 7, 2010

Better Credit Scores Get Better Mortgage Rates

This week marks the start of the Refi Boom’s 7th month ; rates have been falling since early-April 2010. Whether you’re looking to refinance or buy a home, however, know that not everyone will qualify for today’s low rates.

Mortgage approvals are primarily based on good income, good equity and strong ...

View More
Oct. 22, 2010

Time To Refinance? Mortgage Rates Down 1.00 Percent Since April

Freddie Mac mortgage rates (January - October 2010)


30-year fixed mortgage rates rose last week, marking the first time in a month that rates failed to fall week-to-week.

The data sources from Freddie Mac, one of the government’s major mortgage securitizers and a sister entity to Fannie Mae. Each week, Freddie Mac collects mortgage rate data from more ...

View More
Aug. 13, 2010

WEEKLY HOT RATES for the week of 8/11/2010 as provided by Guarantee Mortgage

WEEKLY HOT RATES for the week of 8/11/2010 as provided by Guarantee Mortgage


30 Yr Fixed Conforming to $417K 4.000%
"1.000" POINTS            APR =    4.225%


30 Yr Fixed Jumbo to $729,750.
4.250%
"1.000" POINTS            APR =    4.568 ...

View More
Aug. 5, 2010

Nervous About Mortgage Rates Rising? Lock Thursday — Ahead Of Friday’s Jobs Report

Non-Farm Payrolls July 2008-July 2010Mortgage rates have been falling since April but that momentum could reverse tomorrow.

The Bureau of Labor Statistics releases the July jobs report at 8:30 A.M. ET Friday. With a stronger-than-expected reading, mortgage rates should rise, harming home affordability. Jobs are a keystone in economic growth and growth ...

View More
July 29, 2010

WEEKLY HOT RATES for the week of 7/28/2010 as provided by Guarantee Mortgage

WEEKLY HOT RATES for the week of 7/28/2010 as provided by Guarantee Mortgage

Wow!  I've never seen rates this low.  It's nice to see jumbo loan rates have come down as well.

Did you think rates would ever go below 5%?

30 Yr Fixed ...

View More