There’s more change in the FHA market. They’re raising the MIP by .25% as of April 2011.
In looking at our FHA vs. Conventional comparison, that 95% loan is now going to have an FHA MIP of 1.1%.
We’re using the conventional rate from Freddie’s PMMS released yesterday, 4.95%. Generally, FHA has been about 20 basis points better so we’ll [...]
It’s been a crazy few weeks. Since October of 2010, we’ve seen mortgage rates surge higher. Freddie Mac’s Primary Mortgage Market Survey (PMMS) for October showed an interest rate of 4.23%.
This week’s PMMS won’t be out until tomorrow, but we’re choosing 5.00%. It might be closer to 5.125%, but it will depend on [...]