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Home Good news, bad news - FHA premiums up - Ra...

Good news, bad news - FHA premiums up - Rates mixed

Nobody likes bad news, but it just keep coming it seems. This week billionaire investor Warren Buffet predicted the economy could be worse in 5 months and Atlanta Fed President Dennis Lockhart said home prices in could fall another 10-15%. Ok then - well what goes up comes down, and vice versa. Even now I see solid cash-on-cash investments, and we don't know where the bottom is. Time to prepare for the inevitable turnaround. Have a good long weekend folks! ... Paul

Fixed rates lower, ARMs up
"Interest rates for fixed-rate mortgages continue to drift down as reports of economic weakness persist. ARM rates, on the other hand, rose slightly after the Federal Reserve's Open Market Committee hinted it might increase the overnight bank lending rate" said Frank Nothaft, Freddie Mac vice president and chief economist. Freddy Mac rate surveys
1-3 week trend: Down 21+ days: Flat Market commentary
Glimmers of good news in US housing reports
While no one is ready to call the bottom of the worst housing collapse in decades, there were glimmers this week that the severity is waning... more
FHA hikes insurance premiums (again)
The Federal Housing Administration said earlier this week that it would hike its upfront mortgage premiums for all purchase money mortgages and full-credit qualifying refinances. It will add 25 basis points to its mortgage premium, bringing the upfront premium charged to most borrowers to 1.75 percent... more
Hollywood condo billed as paprazzi proof
A condo project in LA is promoting itself as the first paparazzi-proof building, complete with "Israeli-trained VIP" security guards... more

5 chances to buy hip-hop mansions
If you’re in the market for a house that lives large, check out the homes of hip-hop stars currently for sale... more
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The future belongs to those who believe
in the beauty of their dreams
(Eleanor Roosevelt)
Posted Thursday Aug 28