by John McClellan on December 6, 2011
*****HUD Loan Limits have reverted to the higher loan amounts***** This is only good through end of the year, though – then back to the lower limits*************
Barring any congressional action, Federal Housing Administration (FHA) loan limits will revert to loan limits determined under HERA for loans insured by FHA on or after October 1, 2011. This change would affect 669 of the 3,334 counties or county equivalents that are eligible for FHA insurance.
So what does this mean for Central Texas? [click to continue…]
by John McClellan on November 3, 2011
Where are rates headed? This seems to be the question of the year; and, as usual, the direction is not easy to discern.
A related question is this: What is having the most influence on mortgage rates today? I call it the three-headed monster, which is, I believe, an apt descriptor. The three heads are, in no particular order, the Fed; the economy, of course; and Europe. Each head of this three-headed monster is having a notable effect on the Mortgage Backed Securities (MBS) market; and, as we know, MBS yields are how we get our mortgage rates. Let’s take a look at how each of the monster’s heads is having its effect on rates. [click to continue…]
