Archive for the ‘Mortgage Loans’ Category

Checking The Pulse Of The Kansas City Real Estate Market Mortgage rates have now hit 40 year lows but many Kansas City home buyers are remaining cautious. Freddie Mac reports that the average 30-year fixed rate loan nationally had an interest rate of 4.22 percent — mortgage rates we haven’t seen since 1971. Low mortgage [...]

Checking The Pulse Of The Kansas City Real Estate Market QRM stands for Qualified Residential Mortgage (QRM) and it will change the way mortgage lending is done should the proposed loan regulations be put into effect. Only home buyers who make a 20% down payment would be considered a “Qualified Residential Mortgage”. Since 85% of [...]

Checking The Pulse Of The Kansas City Real Estate Market Fannie Mae is planning to be less involved in future upper bracket home purchases. Currently, most counties across the U.S., including all of our Kansas City metro counties, have a $417,000 maximum loan amount that Fannie Mae will back. This means if you need a [...]

Checking The Pulse Of The Kansas City Real Estate Market Discussions abound of serious shake-ups possibly coming in the mortgage lending industry. It’s been suggested that FHA may raise minimum down payments to 5% — they were raised from 3 to 3.5% just last year. Think that will eliminate the number of home buyers in [...]

Checking The Pulse Of The Kansas City Real Estate Market We have added an experienced bilingual (Spanish/English) real estate agent to our group who can assist you with buying or selling a home in Olathe, Overland Park or the surrounding Kansas City metro area. If you know of anyone considering the purchase or sale of [...]

Checking The Pulse Of The Kansas City Real Estate Market The FHA changes we discussed back in February went into effect this week. This means higher mortgage insurance premiums on all FHA loans.  For example, Rick Woodruff with Metropolitan Mortgage explains this means a $33 higher monthly mortgage payment on a $163,000 home (with a [...]

Checking The Pulse Of The Kansas City Real Estate Market Mortgage rates were inching higher around the new year but we’ve seen them in a downward trend recently and have actually seen rates drop for a third consecutive week. This is an amazing benefit to buying in today’s real estate market and it’s likely 20 [...]

Checking The Pulse Of The Kansas City Real Estate Market The other day a Realtor told me she didn’t care if Fannie Mae never backed another loan. Her argument was that Fannie Mae is backed by the government and government shouldn’t be meddling in the mortgage business. She added that the failed loans that Fannie [...]

Checking The Pulse Of The Kansas City Real Estate Market So in addition to the possibility of Fannie Mae being put out of her misery (and ending conventional loans as we know it), now it’s announced that FHA loans will have 1/4 percent higher annual mortgage insurance premiums. This is guaranteed to lower the volume [...]

Checking The Pulse Of The Kansas City Real Estate Market The news just keeps getting better. There’s talk that Fannie Mae and Freddie Mac may be put out of their misery. This is terrible timing because the past several years those two government-backed organizations have backed 90% of the mortgage made in the U.S. If [...]