My Mind on Mortgages

The Mortgage Banker’s Association is reporting that the FHA Reform Act of 2010 passed the US House of Representatives.  This bill was drawn up in response to many of the solvency issues that the FHA began encountering late last year (see HERE).  One of the most aggressive provisions of the bill is that it will [...]

With so many homebuyers utilizing FHA mortgage financing in the past year I’m guessing many will have questions related to the tax deductibility of mortgage insurance premiums.  Before I jump into detailed tax information let’s do a quick refresher.  I also need to tell you that I am not a licensed tax professional. What is [...]

When a home buyer takes out a new mortgage and has less than 20% down often times they will be required to provide mortgage insurance to the lender (exceptions exist when we’re able to provide “combination loans” which are fairly uncommon these days). Mortgage Insurance (also known as “mi” or “pmi‘) is insurance which covers [...]

You Tube link to see rate update video: http://www.youtube.com/watch?v=uhh_BCCeazg After moving higher yesterday morning mortgage rates appear to have reversed course on technical trading patterns and testimony from Ben Bernanke. Mortgage-backed bond prices touched the 200-day moving average yesterday morning and despite worse than expected inflation data that would ordinarily weigh on bond prices were [...]