Archive | May, 2009

Mortgage Rates Climbing

Mortgage rates have been slowly increasing, recently rising for the second week in a row. The Los Angeles Times reports: ” The average rate for a 30-year fixed mortgage was 4.86% this week, up from 4.84% last week, mortgage company Freddie Mac said. A 15-year fixed-rate mortgage averaged 4.52%, up just slightly from 4.51% last week.” Average rates are [...] [...more]

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FHA 203(k) Loans Require Patience

The FHA 203(k) loan is a rather unique mortgage because it allows homeowners to borrow more than the property is currently worth for home renovations. However, the FHA 203(k) has quite a bit of paperwork and many professionals believe that too many borrowers get fed up before the process is over. Boston Real Estate Now puts it [...] [...more]

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