dallas mortgage news

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This may come as a shock to many borrowers, but it’s absolutely true. Here is great information form a valuable Texas lender. Mortgage interest rates are not set by the Federal Reserve and, contrary to popular belief, mortgage rates are not directly tied to the yields of US Treasury bills, bonds, or notes – including the 10-year Treasury Note. That’s right. Despite what you might hear in the media, mortgage interest rates are actually set by lending institutions, and are based solely on the performance of mortgage-backed securities. Read the rest of this entry »

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Here is important news about Housing and Urban Development from our Lender Jeff Lancaster at Prime Lending.

This is cutting edge news and a more formal announcement will be made, however, I wanted you to know about this ASAP.  This is a very important news for investors interested in Dallas Homes and Plano Foreclosure Properties.

HUD has announced their intention to

  • Lower the Up Front MIP from 2.25% to 1% AND
  • Increase the Annual (monthly) MIP From .50 – .55% to .85 – .90% depending on LTV

on loan terms greater than 15 years. Read the rest of this entry »

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