The U.S. Department of Housing and Urban Development has released the new mortgage insurance premium structure for loans insured by the Federal Housing Administration.
On traditional mortgages, the up-front premium has lowered, HUD
A final rule from the Federal Housing Finance Agency outlines 2010-2011 housing goals for Fannie Mae and Freddie Mac.
On purchase transactions, the minimum goal for low-income loans is 27 percent.
In addition, 8 percent of Fannie’s and Freddie’s acquisitions must be for “very low-income family” homes.
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Fannie, Freddie Goals Released
Pending home sales rose modestly in July, two months after taking a steep plunge that put the housing market into the doldrums.
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Pending Home Sales Show Modest Increase
OTTAWA, Ontario, August 31, 2010 — After rebounding in the second half of 2009 and early 2010, housing starts are expected to moderate in the second half of 2010. Starts are expected to stabilize at levels consistent with demographic fundamentals in 2011, according to Canada Mortgage and Housing Corporation’s (CMHC) third quarter Housing Market Outlook, Canada Edition . 1
Housing …
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Housing Activity Stabilizing
U.S. home prices posted significant gains in June, but other recent signs are pointing to what could be a bumpy road ahead for the housing market.
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Home Prices Up, But Show Signs of Slowing
The Federal Housing Administration reported that it endorsed 6,397 fewer mortgage last month than in June.
The decline came despite a 1 percent rise in refinance endorsements and an 11 percent increase in home-equity conversion mortgage endorsements.
The reason: a 6 percent drop in endorsements for purchase-money mortgages.
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Purchase Activity Drags Down FHA Volume
Educating borrowers to make better financial decisions might be a better way to protect them from risky mortgage products rather than banning such products entirely, one of the governors of the Federal Reserve has proposed.
Rates of mortgage delinquencies and foreclosure starts fell in the second quarter of the year, raising hopes that economic pressures on homeowners may be easing.
And they keep going down, with no bottom in sight.
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Long-term Mortgage Rates Keep Falling
New home sales fell to their lowest rate on record in July, falling to an annual rate of 276,000 units, according to figures released this morning by the Commerce Department.