Congress voted to restore home loan limits

by countyproperties | Nov 3, 2011 | Finance, Latest News, Real Estate news

We have great news to share with you. Last week, Congress voted to restore loan limits and the maximum cap for Federal Housing Authority (FHA) loans. Their action reinstates the loan limit of 125 percent of area median price, up to $729,750. Higher loan limits will...

New changes for HARP to help more homeowners

by countyproperties | Oct 31, 2011 | Finance, Latest News, loan modification, Short Sales

The Federal Housing Finance Agency, along with Fannie Mae and Freddie Mac, on Monday announced changes to the Home Affordable Refinance Program (HARP) to help more borrowers. The program will continue to be available to borrowers with loans sold to Fannie Mae and...

Economy Grows at 2.5 Percent

by countyproperties | Oct 31, 2011 | Finance, Latest News, Real Estate news

The economy grew at an annual rate of 2.5 percent in the three months ending Sept. 30, the government reported, easing fears that the nation would fall into a second recession but still too slow a pace to cut significantly into the high unemployment rate....

What Drives Mortgage Interest Rates

by countyproperties | Oct 21, 2011 | Finance, Latest News, Real Estate news

Mortgage interest rates are not set by banks, lenders or brokers. Mortgage interest rates are based on mortgage-backed securities (MBS), which trade just like regular stocks and bonds. In essence, if MBS selling volume is lower, bond yields and mortgage interest rates...

Jumbo loan limits approved by senate

by countyproperties | Oct 21, 2011 | Finance, Latest News, Real Estate news

The Senate voted 60-38 Thursday night to reinstall the elevated conforming loan limits on mortgages guaranteed by the government. The higher limits expired Sept. 30. Sens. Johnny Isakson (R-Ga.) and Robert Menendez (D-N.J.) introduced an amendment to H.R. 2112, a...

What's the bottom line on a double-dip recession?

by countyproperties | Oct 16, 2011 | Finance, Latest News, Real Estate news

Commentary: U.S. economic picture unchanged despite European crisis Maintain a sense of humor. Most of the following could not be made up. Freddie Mac yesterday announced the lowest mortgage rates ever found in its 40-year survey: 3.94 percent with a 0.8 percent...