Industry News

Mortgage Trends To Look For In 2017

Tom Oslund

Here's some good news to start the new year: mortgages are a little cheaper.

Tom Oslund

The average rate for a 30-year fixed-rate mortgage fell to 4.20% from 4.32% from last week, according to Freddie Mac. This is the first drop in the 30-year fixed rate since the presidential election.

FHA Lowers Annual Mortgage Insurance Premiums

Tom Oslund

In a move that will make home loans more affordable, the Federal Housing Administration (FHA) announced today that it will reduce the annual premiums most of its borrowers pay on mortgage insurance premiums by 0.25 percentage points from 0.85% to 0.60%. The agency said that the new lower premium rates are projected to save new FHA-insured home owners an average of $500 this year.