Altamonte Springs, FL

Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates improved for the 4th consecutive week.

Mortgage rates are now at a 6-week low but probably shouldn't be. It underscores just how important global events can be to U.S. mortgage markets.

For example, corporate earnings continue to improve and key elements of the economy are strengthening. Even the Federal Reserve acknowledges this. In most circumstances, that would be a boon for the stock markets and bond markets would suffer, including mortgage bonds.

Last week, that wasn't the case.

Early in the week, as (1) China tightened its monetary policy, (2) Greece did little to quell lingering default fears, and (3) Spain raised its deficit forecasts, global investors sought to.......

Read the COMPLETE BLOG POST HERE:

What's Ahead For Mortgage Rates This Week : February 8, 2010

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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, the newest contributor to Lenderama and recently featured on Fox35 News.

Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The Pending Home Sales Index rose slightly in December, climbing 1 percent from November.

A Pending Home Sale is a home that is under contract to sell, but not yet sold. It's a figure compiled by the National Association of Realtors® using sales data from over 100 regional listing services and more than 60 large brokerages around the country.

Because each pending sale is a true measure of sales activity, the Pending Home Sales Index is purported to be the most reliable forward-looking indicator for housing.

Recent data supports this hypothesis.

After Pending Home Sales plunged 16 percent in November, Existing Home Sales fell by 17 percent in December. Based on the most recent Pending Sales Index, therefore, we can expect January's closed sales to be similarly level.

For home buyers , this is all a bit of good news. Home prices are based on the supply-and-demand balance that exists between buyers and sellers. When buyers outnumber sellers, like they did through most of 2009, home supplies dip and, in fact,......

Read the COMPLETE BLOG POST HERE:

Pending Home Sales Predicts A Stronger Spring Market

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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, the newest contributor to Lenderama and recently featured on Fox35 News.

Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

Altamonte Springs Real Estate is a wonderfully diverse city located just north of Orlando, in Seminole County, Florida. According to the US Census, the population of Altamonte Springs is 41,200. In Altamonte Springs you will find an array of fine-dining and eclectic restaurants, amazing shopping, and lots more! Altamonte Springs is home to the Altamonte Mall and the upscale shopping, dining and recreation area known as Uptown Altamonte. Uptown is a popular local destination surrounded by a beautiful lake and park. There is a 900-seat amphitheatre and various weekly functions held in this area. Several times a week, performances, concerts, festivals and social events are held at the park and in the Eddie Rose Amphitheatre. Residents from nearby Maitland, Apopka, Casselberry, Longwood, Sanford and Orlando come to visit Uptown Altamonte quite frequently.

Some of Central Florida's best restaurants, like Maison and Jardin, are located in Altamonte Springs, along with other lounges, hip bars and cute cafes. Cranes Roost Park and Lake Lotus Nature Park are also popular with residents and visitors alike, providing a relaxing atmosphere to go fishing, jogging or have a picnic at. Altamonte Springs is also home to Central Florida's Red Hot & Boom July 3rd fireworks display that over 100,000 people attend every year. The city and its magnificent venues host many gorgeous weddings, festivals and city holiday events.

Altamonte Springs is home to some of Central Florida's most visited lakes. The gleaming Bear Lake is famous for its campground, fabulous fishing spots, and canoeing. Lake Brantley is also a popular location with the fishing community; in addition, many local residents picnic and play sports at the park connected to Lake Brantley. Altamonte Springs has gorgeous homes, swanky lofts, a budding entertainment scene, and recreation facilities; the city has fast become a highly desirable location in Central Florida

ALTAMONTE SPRINGS, FL MLS LISTINGS

• Location: Seminole County Florida
• Property Type: Luxury Homes, Single Family Home, Condominimus, Townhomes
• Amenities: Shopping Centers, Movie theaters, Parks, Bike Trails
• Population: 41,200

To see all of The Altamonte Springs, Florida Foreclosures Homes For Sale you can visit Altamonte Springs Foreclosure homes or visit our Bank Owned page and view all of the bank owned lisitngs by city or Community around the Central Florida area.

Conforming and FHA mortgage rates improved last week on the combination of weaker-than-expected economic data and new anti-banking rhetoric from the White House.

The S&P 500 shed nearly 4 percent in its worst weekly showing since October 2009 as all 10 sectors fell. As the money left stock markets, it made its way to bonds -- including the mortgage-backed variety.

As a result, mortgage rates fell for the third straight week.

Since shedding 300 basis points in December, mortgage bond pricing has recovered a bit more than half of those losses. It's helping with home affordability and opening new refinance opportunities around the country.

This week, though, mortgage rates could rise back up. There's a lot going on.

First, on Monday, the December Existing Homes Sales report will be released. The report is expected to be extremely weak as compared to November. This is because of a combination of factors including:.....

Read the COMPLETE BLOG POST HERE:

What’s Ahead For Mortgage Rates This Week : January 25, 2010

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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, the newest contributor to Lenderama and recently featured on Fox35 News.

Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

Very shortly, it is going to be that much harder for people to get an FHA loan. The Federal Housing Administration is rolling out new plans to tighten up on their loan program in order to shore up their accounts in the midst of this recession.

New standards will include:

- A minimum 580 credit score for buyers (presently there is no minimum score requirement). If your score is less than 580, you will need 10% cash to close as opposed to 3.5%.

- Raising the FHA premium from 1.75% to 2.25% of the loan amount (a nearly 30% increase in this fee)

- Decreasing the allowance of seller contribution to buyer's closing costs from 6% down to 3%.

Big changes. I know it will help improve the financial health of the FHA, however at the same time it will make that many more people not be able to qualify for the loan. But it's better than another bailout of a federal agency.

Here is a USA Today article on these changes. Also Announcement by FHA's David Stevens on Activerain.