Archive for the ‘FHA Loan Rates News’ Category

FHA Loan Rates News, President Obama on Refinancing Mortgage

Thursday, April 9th, 2009

President Barack Obama said Thursday millions of Americans can save money by refinancing their homes and taking advantage of record low rates on fixed rate mortgages.

Speaking at the White House, Obama emphasized that that average rates on 30-year fixed-rates mortgage have dropped to 4.78 percent. That is the lowest rate on record.

Said the president: “People can really take advantage of this.”

Obama touted an increase in refinancing mortgage nationwide as a sign that federal programs to help homeowners are working.

But he warned people to watch out for scam artists. He said if people offering to help people stay in their homes question for money upfront then “it’s probably a scam.”

So, what are you waiting for? Mr. President already told us to refinance our mortgage. Use FHA Refinance Loans to refinance your home. You can start to look for FHA mortgage lenders in this site to help you.

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FHA Loan Rates News, 30 Year Fixed Rate Mortgage Break New Record Low

Thursday, April 2nd, 2009

fha-ratesExcellent news for you who already have a plot to buy a home! Today, 30 year fixed rates mortgage break another new record low.

30-year fixed-rates mortgage (FRM) averaged 4.78 percent with an average 0.7 point for the week ending April 2, 2009, down from last week when it averaged 4.85 percent. The 30-year FRM has not been lower in the life of Freddie Mac’s weekly survey, which dates back to 1971 for the 30-year FRM.

The 15-year FRM this week averaged 4.52 percent with an average 0.7 point, down from last week when it averaged 4.58 percent. The 15-year FRM has never been lower in the life of Freddie Mac’s weekly survey, which dates back to 1991 for the 15-year FRM.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 4.92 percent this week, with an average 0.7 point, down from last week when it averaged 4.96 percent.

One-year Treasury-indexed ARMs averaged 4.75 percent this week with an average 0.6 point, down from last week when it averaged 4.85 percent.

“Mortgage rates followed other interest rates lower this week amid reports of slower economic growth” said Frank Nothaft, Freddie Mac vice president and chief economist. “The final estimate of economic growth in the fourth quarter was revised lower and personal incomes fell 0.2 percent in February, below the market consensus.

“On a positive note, pending existing home sales rose 2.1 percent in February, marking the second increase in three months as potential homebuyers are taking advantage of historically low mortgage rates and falling home prices.

So what are you waiting for, start it right now! You can check the ‘FHA Rates‘ in this site and also ‘FHA Mortgage Calculator‘. You can check how much monthly payment when you want to buy HUD homes sale with FHA home loans.

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FHA Loan Rates News, 30 Year Fixed Rates Mortgage New Low Record

Thursday, March 26th, 2009

The national average interest rate on the benchmark 30 year fixed rates mortgage averaged 4.85% in the week ending Thursday, setting a new record low dating back to 1971, according to Freddie Mac’s weekly survey. That rate is down from last week’s 4.98% and the year-ago 5.85%.

The 15-year fixed-rates mortgage averaged 4.58%, a record low dating back to 1991, down from the week-ago 4.61% and the year-ago 5.34%.

The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.96%, compared with 4.98% a week ago and 5.67% a year ago.

One-year Treasury-indexed ARMs averaged 4.85% this week, down from last week’s 4.91% and the year-ago 5.24%. “The Federal Reserve’s announcement that it intends to buy Treasury securities over the next six months caused bond yields to drop and mortgage rates followed,” said Frank Nothaft, Freddie Mac vice president and chief economist.

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FHA Loan Rates News, HUD Approves $731 Million In Neighborhood Stabilization Funding

Saturday, March 21st, 2009

HUD APPROVES $731 MILLION IN NEIGHBORHOOD STABILIZATION FUNDING FOR 48 STATES AND LOCAL COMMUNITIES
Funding aimed at neighborhoods hard-hit by foreclosure

WASHINGTON – U.S. Housing and Urban Development Secretary Shaun Donovan today approved nearly $731 million in funding for 48 States and local communities seeking to recover from the effects of high foreclosures and declining home values. Funded under HUD’s Neighborhood Stabilization Program (NSP),these plans will target emergency help to particular neighborhoods by acquiring and redeveloping foreclosed properties that might otherwise become sources of abandonment and blight (see attached chart).

The neighborhood stabilization plans approved today include a $145 million plot submitted by the State of California, a program President Barack Obama recognized during a town hall meeting today in Los Angeles.

“These funds will be used to buy up and rehabilitate vacant foreclosed homes and resell those homes with affordable mortgages,” said President Obama. “They’ll allow California to provide mortgage help and rehabilitation loans for both low-income and middle-income families. This is how we’ll help people here in California live their dream of homeownership and how we’ll start transforming abandoned streets lines with vacant houses into thriving neighborhoods.”

“Our goal is to help communities throughout California turn these houses into homes again,” said Donovan. “California is clearly struggling with a brutal foreclosure crisis and we must make every effort to help to help communities prevent these foreclosed properties from becoming a source of neighborhood blight.” (more…)

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FHA Loan Rates News, HUD Charges South Dakota Developers

Friday, March 20th, 2009

HUD CHARGES SOUTH DAKOTA DEVELOPERS WITH DISCRIMINATING AGAINST PERSONS WITH DISABILITIES

WASHINGTON – The U.S. Department of Housing and Urban Development announced that it is charging the developers of three multifamily housing complexes in Sioux Falls, South Dakota, with housing discrimination for designing and constructing buildings that failed to accommodate the special needs of elderly and disabled tenants.

The Honest Housing Act requires that new multifamily housing built after 1991 contain accessible features for individuals with disabilities.

According to HUD’s investigation, Equity Homes, Inc., along with various other entities, failed to design and construct accessible dwelling units and public and common use areas at Beverly Gardens Apartments, Sertoma Hills Apartments and Villas, and West Briar Estates.

In addition, HUD claims the complexes have numerous inaccessible features, including, bathrooms that lack sufficient space for a person using a wheelchair, electrical outlets and thermostats that cannot be reached by persons using wheelchairs, and narrow doorways.

The complaints that led to the charges were filed by Honest Housing of the Dakotas, one of HUD’s Honest Housing Initiative Program agencies.

“One out of five persons live with some type of physical disability, making it more vital than ever that developers comply with the Honest Housing Act’s accessibility requirements,” said Bryan Greene, HUD’s General Deputy Assistant Secretary for Honest Housing and Equal Opportunity. “Whenever HUD determines that a developer has failed to meet his responsibility in this area, we will not hesitate to act.”

The HUD charges will be heard by a United States Administrative Law Judge unless any party to a charge elects to have that case heard in federal district court. If an administrative law judge finds after a hearing that discrimination has occurred, he may award hurts to the complainant for its loss as a result of the discrimination. The judge may also order injunctive relief and other equitable relief to deter further discrimination, including retrofitting of the complexes, as well as payment of attorney fees. In addition, the judge may impose civil penalties in order to vindicate the public interest. In the event of an election, a federal district court judge may also award punitive hurts to the complainant.

FHEO and its partners in the Honest Housing Help Program investigate approximately 10,000 housing complaints annually. People who believe they are the victims of housing discrimination should contact HUD at (800) 669-9777 (voice), (800) 927-9275 (TTY). Additional information is available at www.hud.gov/fairhousing. Stay on top of the most up-to-date news regarding the Honest Housing Act by signing up for the FHEO RSS Feed.

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HUD is the nation’s housing agency committed to sustaining homeownership; making affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development and enforces the nation’s honest housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.

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