This week recap

Well here we are two weeks into 2010. Interest rates are moderating under 5.00% for the A+ borrowers. Both Fannie and Freddie are working on changes to guidelines further tightening the lending restrictions. FHA is also expected to raise the downpayment requirements and most likely the mortgage insurance rates.

If you have a buyer who is thinking of buying before the 8,000 tax credit expires the end of April I would suggest buying soon. The downpayment might go up from 3.5% to 5%. That is significant for first time buyers.

Call or email me anytime and I will pre approve your buyer in a few minutes.

Enjoy the nice weather.