PhoenixHomeKey.com

Since Memorial Day, conforming mortgage rates have jumped by more than 1.125 percent, adding thousands of dollars to the annual cost of homeownership. To the casual observer, the moves may seem random.  There's a reason this is happening, however. It starts with inflation. As an economic force, inflation erodes the value of the U.S. ...

Don't look now but oil prices are climbing. This should worry today's home buyers and would-be refinancers because some of the same forces that helped to push crude past $50 for the first time in 4 months also cause mortgage rates to rise. March 18, the Federal Reserve committed an additional $1.15 trillion to support the economy. ...

Mortgage delinquencies are on the rise nationwide, but the news may not be as bad as it appears at first glance. Using anonymous data from its national credit database, TransUnion reports that 4.58 percent of American homeowners were at least 60 days past due on mortgage payments last quarter. Comparing the statistic to the data from a year ago, ...

FHA has increased the loan limits in most areas again. Maricopa County is now $346,250 for a single-family residence.    

A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid. In its efforts to stimulate the economy and revive the housing market, Congress has enacted ...

Fannie Mae rolled-back one of its least popular mortgage guidelines updates of the last 12 months. Effective March 1, 2009, real estate investors can once again own and finance up to 10 individual properties.  The restriction reversal does come with new minimum requirements, however. Homeowners buying a 5th, 6th, 7th, 8th, 9th or 10th home ...

Mortgage bonds are again in the red this morning after seeing black for a short period of time.  The good news is that we have not seen a major shift in the bond market and overall the movement has been sideways with a slight tilt to moving lower.  Bad news on jobs front though, as Home Depot announced it will be cutting around 7000 jobs ...

Right now rates are at an ALL TIME LOW,  hovering around 5 to 5.5%...but they are already beginning to creep up slightly!  If you have a loan, at or above 6%, now is an opportune time to refinance. It appears rates falling to 4.5% was a rumor and they are NOT EXPECTED TO FALL TO THE MID 4% RANGE.  Here is an excerpt posted today on ...

In March 2008, HUD temporarily raised FHA loan limits around the country.  Effective January 1, 2009, FHA loan limits revert. FHA home loans are mortgages made by private lenders and insured by the federal government. Historically, FHA home loans have been "easier" for which to qualify than their conforming mortgage counterparts ...

In the wake of losing seller assisted down payment programs, the most often asked question from potential first time home buyers is “How can we come up with the down payment”.  The following are some ideas that may help :   Family Loans: FHA now allows buyers to receive loans from direct family ...