What If I Wait Until Next Year to Buy a Home?We recently shared that national home prices have increased by 6.7% year-over-year. Over that same time period, interest rates have remained
FHA Lowers Mortgage Insurance
As housing continues to improve the Federal Housing Administration (FHA) announced it will reduce the annual premiums new borrowers will pay by half of a percent. This action is projected to save more than two million FHA homeowners an average of $900 annually. The reduction will take the rate from the current 1.35 % to 0.85% and is expected to take effect towards the end of the month. FHA will publish a mortgagee letter detailing its new pricing structure in the upcoming weeks. This is great news for new buyers.
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One of the first decisions that must be made in the home buying process is whether to buy an existing home or build a new home. In today's market a shortage of inventory is