Mortgage Interest rates heading higher

Rates are slowly drifting upward. They have risen ½ % point since the lows of last fall. People have gotten too used to low rates and don’t get that this is historic and not normal. The federal reserve has been artificially keep in g interest rates low by buying up 10...

Lenders Reluctant to Issue FHA Loans

It’s even tougher than ever to get a 3.5% FHA loan. You are more likely to fall into the traditional 10% down.. To get the lower downpayment your fico would have had to be 701 on average. Lenders have grown increasingly concerned about aggressive regulator...

FHA is broke

Because they insured the banks against loss if the loans went bad, they had to pay off a lot of money. Like any insurance company, if you have to pay out more than you collected in insurance premiums, you are in trouble. That is what is happening to FHA. Since 2007,...