Monthly Archive for: February 2012
Obama Refi Plan Could Net One Million FHA Borrowers
Posted February 21, 2012
President Barack Obama has proposed allowing underwater homeowners to refinance their mortgages with FHA-insured loans. The proposed program would extend today’s low rates to homeowners who owe more than their homes are worth. The plan would be similar to the Home Affordable Refinance Program, or HARP, but it would apply to private mortgages that are…Continue Reading
Unemployment Rate down to 8.3%, the lowest since February 2009. Good for rates?
Posted February 10, 2012
Last week, the Jobs Report showed 243,000 jobs were created in January, which was much better than expected. Upward revisions to November and December added another 60,000 jobs to what was previously reported for those months. And adding to the good news was a 0.2% decline in the Unemployment Rate, bringing it to 8.3%, the…Continue Reading