The Obama administration today announced a plan that will reduce the cost of refinancing for 2 to 3 million homeowners. The plan announced that the Federal Housing Administration (FHA) will reduce the upfront mortgage insurance premium (UFMIP) form 1% to 0.1%, and the monthly insurance premium from 1.15% to 0.55%. The combination of these can [...]

As the Real Estate and financial markets continue to move up and down, mortgage rates can also be affected. Since mortgage rates are more closely tied to the bond markets, an up or down move in the stock market may not have the result in mortgage rates that one might expects. In fact, many times [...]