FHA Loan Limits Increased

We have all been waiting for some relief to our current real estate market conditions, and it arrived today: the new FHA and Fannie Mae- Freddie Mac conforming loan limits have been released by the U.S. Department of Housing and Urban Development (HUD). Read more

President Bush signed into law the economic stimulus package

President George W. Bush today signed into law an economic stimulus package that among others includes raising the limits on conforming mortgages financed by Fannie Mae and Freddie Mac to $729,750 from the current limit of $417,000 through December 31 of 2008. It would also indefinitely raise the limit on Federal Housing Administration-backed mortgages to that same level. Such a move is expected to lower the interest rates on those high-cost loans. Read more

Fed Cuts Interest Rates Again

In an effort to further boost the ailing economy, for a second time in eight days the Federal Reserve cut its federal funds rate (the rate banks charge each other for overnight loans) by a half percentage point Read more

Fed Cuts Interest Rates by 3/4%

Today’s rate cut by the Federal Reserve would mean lower interest rates on home equity loans and also lower rates on mortgage loans for purchasing real estate. Your monthly mortgage payment could now buy you more home than before. Read more

Important Announcement Regarding Bank of America and Countrywide

Just a couple days after receiving an email from Countrywide’s retail division rejecting the bankruptcy rumor, today I received another email, this time from Countrywide’s wholesale division with the following announcement: Read more

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