Mortgage Update: The Price of Oil Is Driving Interest Rate Activity and Second Appraisals for FHA Loans
By Michael Bergin, Northern Virginia Real Estate
(Coldwell Banker Residential Brokerage - ABR - SRES )
The Federal Reserve cut rates again last week but with seemingly little impact. Fear of inflation - driven by the cost of oil - seems to be the biggest factor in the interest rate market with 30 year conventional conforming loans at 6% with 0 points as are FHA 30 year fixed rate loans. The 30 year FHA plus loan (up to $729,000+) is holding at 6.25%. What do you need to know about FHA loans? SeeMortgage Update: The Price of Oil Is Driving Interest Rate Activity and Second Appraisals for FHA Loans
Comments
0