Home Loans and Mortgages on Bad Credit by Mortgages MAX

The official web site of the Government National Mortgage Association (Ginnie Mae).

Original post by Patrick McGee

According to Freddie Mac’s recently released survey, America’s delicate housing market received some good news that current mortgage rates remained stable, at approximately 5%, through Thursday, October 29. A 30-year fixed-rate mortgage is currently reported at 5.03%, up slightly from 5.00 last week. However, it is still extraordinarily lower than the 6.46% rate from the same week one year prior.
Freddie Mac’s vice president and chief economist, Frank Nothaft, said mortgage rates have averaged just below 5% throughout 2009. Nothaft also said it is the lowest average for a 10-month period since 1971. “As a result, refinance activity has accounted for almost seven out of 10 mortgage applications on average this year.”
The current mortgage rates on a 15-year fixed-rate mortgage is 4.46% this week, slightly up from 4.43% last week. For the same week from one year prior, the 15-year fixed-rate mortgage was 6.19%. Surprisingly, Nothaft said, “New home sales unexpectedly [...]

Original post by Robert Hyder

The resolution would extend the present conventional loan limits for Fannie and Freddie through the 2010 calendar year at 125 percent of local median home sales prices, up to a maximum of $729,750 in high-cost areas.
The floor for FHA is $271,050; the floor for Fannie Mae and Freddie Mac conforming loan limits is $417,000.
The resolution now goes to President Obama, and he is expected to sign it today or Saturday to avoid a government shutdown….(read more)

Original post by Adam Quinones