C21AGVoices

The fiscal responsibility of a homeowner extends beyond the mortgage’s basic principal and interest repayments. Homeowners are also responsible for the real estate taxes on the home and its insurance premiums, too.

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June’s Pending Home Sales Index is weak by most measures, but if you’re a home buyer, the headlines aren’t so bad. Fewer home sales can push negotiation leverage to the buy-side of a transaction.

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Today, in its first meeting in 6 weeks, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged. The Fed Fund Rate remains at a historical low, within a prescribed target range of 0.000-0.250 percent.

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At 7,333 words, the June Fed Minutes is the unabridged version of the more well-known, post-meeting press release. The corresponding press release was just 360 words. It turns out, the Fed’s words are doing wonders for mortgage rates.

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Today, in its first meeting in 5 weeks, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged. The Fed Fund Rate remains within its target range of 0.000-0.250 percent.

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Mortgage rates may be dropping, but mortgage costs are not. According to Freddie Mac, the average required discount points on a conforming mortgage rate are higher by 0.1 percent since early-May.

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Single-family housing starts plummeted to a one-year low in May, just 30 days after soaring to a 20-month high. It’s no wonder home builders are confused.

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Contrary to what you may have read (or heard), the federal home buyer tax credit has not been extended past June 30, 2010. At least not yet.

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If you plan to finance your home with a conforming interest only mortgage, get your loan application submitted no later than this Friday, June 18. Starting next week, Fannie Mae is clamping down on the popular loan product.

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In a near-unanimous vote, the House of Representatives gave the FHA power to raise the monthly mortgage insurance premiums it charges to its borrowers.

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