President Bush on Wednesday signed into law a housing bill that aims to boost the housing market and solidify mortgage finance giants Fannie Mae and Freddie Mac. Click here to read about Fannie & Freddie.
A larger role for the Federal Housing Administration: The FHA will be allowed to insure up to $300 billion in new [...]

George Cooper is a Senior Mortgage Advisor with Primary Home Finance in East Greenwich, Rhode Island.  I asked George to lend a little insight to what effect  a Declining Market tag has on mortgages.  Currently all Rhode Island counties are considered Declining Markets, despite growth within many areas.   
In a small state like Rhode Island, a family attitude means everything.  [...]

 

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The mortgage industry has gone through some a major overhaul recently, and there is more to come.  The latest shoe to drop is the 100% financing / zero down mortgages.  Not all of them are extinct, but don’t look to Fannie Mae or Freddie Mac to guarantee one.  Now these mortgages are deemed a risky [...]

These loan increases will go into effect April 1, 2008 for 15-30 year fixed mortgages. The criteria for adjustable rate mortgages will not be available until May 1, 2008.  To give an idea of the magnintude of the increase; previously, the loan limit on a single family conforming loan was $417,000.00.  Please note that this is not to be [...]