Lower Mortgage Rates Lead to a Bona Fide Refinance Boom
That’s right folks, you read that correctly. Right now, as a result of the lowest 30-year fixed-rate mortgage rates since 1971, we are officially in a refinance boom.
According to Marketwatch.com, “The benchmark 30-year fixed-rate mortgage tumbled to a national average 5.17% this week, the lowest level since Freddie Mac began its weekly rate survey in 1971.”
Good news for the economy. Good news for homeowners Read more
Texas FHA Lending Boom
Is the boom in FHA Lending a cause for concern? Nearly 20% of all new mortgages now insured by government agency. The Texas mortgage shakedown of the subprime mortgage industry and its fallout on conventional lenders has led to such a boom in business at the Federal Housing Administration that the agency is now insuring nearly one in five new residential mortgages, helping salvage some neighborhoods in some of the nation’s battered real estate Read more