ufmip: Zillow Sees New Record Lows for Mortgage Rates - 01/11/12 09:50 AM
 
 MORTGAGE LOCK ADVISORY 
January 11, 2012, 6:45 AM PST
Click for Lock Advice Updated Several Times Daily  
   
Mortgage Interest Rate lock Advice for locks within 7 days:  LOCK
Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.01 point.  The 0.34 decrease in MBS prices from yesterday to today was due to the MBS market moving from a January to a February coupon and does not effect points.
 
30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT with Caution
There is not conclusive evidence to lock but, In this uncertain market the best advice is to … (0 comments)

ufmip: No Excuses... Just Appointments - 01/10/12 09:50 AM
 
MORTGAGE LOCK ADVISORY 
January 10, 2012, 6:30 AM PST
Click for Lock Advice Updated Several Times Daily  
   
Mortgage Interest Rate lock Advice for locks within 7 days:  LOCK
Mortgage Points based on 3.5% Mortgage Backed Securities are the up 0.03 point.  MBS are seriously overbought and the market could reverse in the next couple of days.
 
30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT with Caution
There is not conclusive evidence to lock but, In this uncertain market the best advice is to lock at historic low rates.
 
MORTGAGE MARKET INDICATORS
National Average Fixed Rate … (0 comments)

ufmip: RATE LOCK & MARKET ADVISORY - January 9, 2012 - 01/09/12 06:20 PM
 MORTGAGE LOCK ADVISORY 
January 9, 2012, 3:00 PM PST
Click for Lock Advice Updated Several Times Daily  
   
Mortgage Interest Rate lock Advice for locks within 7 days:  LOCK
Mortgage Points based on 3.5% Mortgage Backed Securities closed down 0.07 point.  MBS are seriously overbought and the market could reverse in the next couple of days.
 
30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT with Caution
There is not conclusive evidence to lock but, In this uncertain market the best advice is to lock at historic low rates.
 
MORTGAGE MARKET INDICATORS 
National Average Fixed Rate Mortgage 3.91% … (0 comments)

ufmip: AM RATE LOCK & MARKET ADVISORY - January 6, 2012 - 01/06/12 10:00 AM
 
 MORTGAGE LOCK ADVISORY 
January 6, 2012, 6:45 AM PST
Click for Lock Advice Updated Several Times Daily  
   
Mortgage Interest Rate lock Advice for locks within 7 days:  LOCK
Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.01 point. 
 
30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT with Caution
There is not conclusive evidence to lock but, In this uncertain market the best advice is to lock at historic low rates.
 
MORTGAGE MARKET INDICATORSNational Average Fixed Rate Mortgage 3.95%   MBS (3.5%) - 102.92, High: 103, Low: 102.72   DJI Stocks currently $12,372.41,  Down $-43.29, Change -0.35%   Asian & … (0 comments)

ufmip: Bernanke calls for nationwide REO rental program - 01/05/12 11:27 AM
MORTGAGE LOCK ADVISORY 
January 5, 2012, 8:00 AM PST
Click for Lock Advice Updated Several Times Daily  
   
Mortgage Interest Rate lock Advice for locks within 7 days:  FLOAT
Mortgage Points based on 3.5% Mortgage Backed Securities are up 0.03 point. 
 
30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT with Caution
There is not conclusive evidence to lock but, In this uncertain market the best advice is to lock at historic low rates.
 
MORTGAGE MARKET INDICATORS National Average Fixed Rate Mortgage 3.95%   MBS (3.5%) - 102.81, High: 102.86, Low: 102.66   DJI Stocks currently $12,372.26,  Down $-46.16, Change -0.373%   Asian & European … (3 comments)

ufmip: AM RATE LOCK & MARKET ADVISORY - January 4, 2012 - 01/04/12 09:48 AM
 
MORTGAGE LOCK ADVISORY 
January 4, 2012, 6:30 AM PST
Click for Lock Advice Updated Several Times Daily  
   
Mortgage Interest Rate lock Advice for locks within 7 days:  FLOAT
Mortgage Points based on 3.5% Mortgage Backed Securities are Down 0.11 point. 
 
30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT with Caution
There is not conclusive evidence to lock but, In this uncertain market the best advice is to lock at historic low rates.
 
MORTGAGE MARKET INDICATORS National Average Fixed Rate Mortgage 3.91%   MBS (3.5%) - 102.93, High: 102.94, Low: 102.81   DJI Stocks currently $12,373.77,  Down $-23.61, Change -0.191%   Asian & … (0 comments)

ufmip: AM RATE LOCK & MARKET ADVISORY - December 30, 2011 - 12/30/11 09:42 AM
 
DAILY MORTGAGE LOCK ADVISORY 
December 30, 2011, 6:45 AM PST
Click for Lock Advice Updated Several Times Daily  
   
Mortgage Interest Rate lock Advice for locks within 7 days:  FLOATMortgage Points based on 3.5% Mortgage Backed Securities are down 0.18 point. 
 
30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT with Caution
There is not conclusive evidence to lock but, In this uncertain market the best advice is to lock at historic low rates.
 
MORTGAGE MARKET INDICATORS 
National Average Fixed Rate Mortgage 3.91%         MBS (3.5%) - 102.88, High: 102.92, Low: 102.69   DJI Stocks currently $12,267.81,  Down $-19.23, Change -0.157%   Asian & European … (0 comments)

ufmip: AM RATE LOCK & MARKET ADVISORY - December 2, 2011 - 12/02/11 09:41 AM
 
DAILY MORTGAGE LOCK ADVISORY 
December 2, 2011, 6:30 AM PST
Click for Lock Advice Updated Several Times Daily  
   
Mortgage Interest Rate lock Advice for locks within 7 days: LOCKMortgage Points based on 3.5% Mortgage Backed Securities are up 0.11 point.
 
30 Day Mortgage Interest Rate Lock or Float Advice:  LOCK3.5% MBS price has repeatedly tried and failed to break above the long term resistance level of 102 and is now heading in the wrong direction.  In this uncertain market the best advice is to lock at historic low rates.
 
MORTGAGE MARKET INDICATORS National Average Fixed Rate Mortgage … (0 comments)

ufmip: FHA Home Mortgage Loans in San Diego - UFMIP - 11/30/11 09:19 AM
FHA Home Mortgage Loan in San Diego - UFMIP
FHA Mortgage Insurance Premiums (MIP)
FHA (Federal Housing Administration) charges Mortgage Insurance Premiums (MIP) to protect the lender in the event of default.  They are collected by the lender and then forwarded to FHA.
There are two types of MIP. charged on FHA loans.  Up Front Mortgage Insurance Premium (UFMIP) and Monthly Mortgage Insurance Premium MIP. 
Currently, UFMIP is a one-time charge, of 1.75% of the loan amount and is normally added to the base loan amount and financed by the borrower.  The base FHA loan is 96.50% of the purchase price so the resulting total … (10 comments)

ufmip: FHA Wants to Raise Annual MIP from .55% to .85% - 02/02/10 02:38 PM
I have been hearing rumors that FHA wants to increase their annual mortgage insurance preimium (MIP) from .55% to .85% the only source I have found so far is this article in the Washington News section of National Mortgage News.
February 1, 2010  "The Federal Housing Administration is seeking congressional permission to raise the annual premium on FHA-single-family loans to 0.85%, up from the current 0.55% statutory limit, according to the President's fiscal year 2011 budget proposal. "If granted this statutory flexibility, FHA will lower the upfront premium to 1% and increase the annual premium from 0.50% to 0.85%," the budget … (3 comments)

ufmip: FHA MIP MORATORIUM - 08/27/08 02:07 PM
August 27, 2008
A provision in the 2008 Housing Bill placed a moratorium on FHA Risked Based MIP from October 1, 2008 until September 30, 2009.
Current Risked based MIP will remain in effect until Oct. 1 http://www.YourFhaGuru.com/Risk_Based_Pricing.html
When the moratorium goes into effect FHA's UFMIP will be 1.75% of the loan amount.
Moratorium details can be found at: http://www.YourFhaGuru.com/UFMIP_Moritorium.html
Bill Ladewig
Market and Lending updates: http://www.YourFhaGuru.com
 
(1 comments)

 
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