VIDEO UPDATE:

Interest Rates Improve Despite Higher Inflation, Here is Your Weekly Mortgage Rate Update

TODAY’S MORTGAGE RATES

Mortgage Interest Rates moved lower
on the week with the Mortgage
Backed Security Market (MBS)
trading up +31 bps.

Below are Mortgage News Daily’s
Average Interest Rates across
the country.

The big news last week was Friday’s
PCE Inflation Report.

PCE Inflation remained at 2.5%, but
PCE’s Core Inflation (stripping out
food and energy), went up higher
than expected to 2.8%.

When looking at the short-term
month to month inflation numbers,
Inflation is moving in the wrong
direction. Interest rates typically
follow inflation.

This week’s big market event is
Friday’s BLS Jobs Report.

There are a lot of characteristics that
go into a mortgage rate – credit score,
investor, loan to value, loan amount,
costs, etc. Please call me to go over
your specific scenario so we can
price your loan out accurately.

Or email me at reggie@mygreenhomeloans.com with the answers
to the questions below for Mortgage
Options for your scenario.

REFINANCE QUOTE:

Goal of Refinance – Lower Payment, Cash Out, Debt Consolidation:
Address of Home:
Estimated Value of Home:
Current Loan Amount:
Current Rate:
What Type of Loan Are You in Currently – FHA, VA, Conventional:
Estimated Credit Score:
Are You a Veteran or Active Member of the U.S. Military:
If You are a Veteran, Do you get VA Disability:

HOME PURCHASE QUOTE:

What City and State are You Looking to Purchase In:
Estimated Purchase Price:
Loan Amount You Would Like to Finance:
Will Property be a Primary Residence, Investment Property, or Vacation Home:
Estimated Credit Score:
Are You a Veteran or Active Member of the U.S. Military:
If You are a Veteran, Do you get VA Disability:

Thank you!

HOME IN 5 PLATINUM IS
OUT OF FUNDS

Home in 5 Platinum, the popular
Maricopa County Down Payment
Assistance Program is out of funds.
When we released the Home in 5
Platinum Product in late February,
we warned that the funds
wouldn’t last long.

We were right.

FHFA ELIMINATES SPCP PROGRAMS

SPCP programs are targeted lending products
designed to help an economically
disadvantaged group of people
purchase a home.

The main SPCP program we were using
was Home Ready Plus, which allowed
clients currently living in specific census
tracts to get a large grant on their
home purchase.

These programs are no more.

HUD REVISES RESIDENCY REQUIREMENT

Effective for new FHA Case Numbers
May 25^th and after, FHA Insured
Loan will only be available to U.S.
Citizens, Lawful Permanent Residents,
and citizens of the Federated States
of Micronesia, Palau, or the Marshall
Islands.

In effect, clients wishing to qualify
for an FHA loan must be a Citizen
or have a Green Card.

For clients that don’t fit into this
category, you can still get an
FHA loan with FHA Case Numbers
pulled by May 25^th. FHA Case
Numbers are pulled when you
have a property associated with
them – typically when you go
under contract.

After this goes into effect, we still
have access to alternative programs
we can also help these clients with.

Have a great week!!