Universal Lending Mortgage News

The Federal Reserve voted on Wednesday to again raise the key interest rate one-quarter percentage point, the first of three hikes anticipated for 2017. The rate was increased one-quarter percentage point just three months ago, in December 2016.

“In view of realized and expected labor market conditions and inflation, the [Federal Open Market] Committee decided to raise the target range for the federal funds rate to 3/4 to 1 percent,” according to a statement by the Fed. “The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a sustained return to 2 percent inflation.”

The probable decision, which followed encouraging employment figures in February, marks a turning point in policy. The Fed raised the rate only twice in the past decade; Wednesday’s decision quickens the pace, signaling the potential for more aggressive action as the year unfolds.

Posted in:General
Posted by Dawn m. Holmes on March 16th, 2017 10:28 AM

Information from January 20, 2016

While President Donald Trump did not refer to housing policy in his inauguration speech, his new administration has already taken action in this realm.

The Department of Housing and Urban Development (HUD) issued a statement that the reduction in the Federal Housing Administration (FHA) mortgage insurance premium that was announced last week has been suspended indefinitely.

“FHA is committed to ensuring its mortgage insurance programs remains viable and effective in the long term for all parties involved, especially our taxpayers,” the HUD statement said. “As such, more analysis and research are deemed necessary to assess future adjustments while also considering potential market conditions in an ever-changing global economy that could impact our efforts.”

The HUD statement added that “FHA will issue a subsequent Mortgagee Letter at a later date should this policy change.”

Posted in:General
Posted by Dawn m. Holmes on February 6th, 2017 11:24 AM
The FHA has announced it will cut mortgage insurance premiums, a move that may ease the burden of rising interest rates.

The Obama administration cut mortgage-insurance premiums charged under a government program that’s popular with first-time home buyers with little money for a down payment, a move that may ease the burden of rising interest rates.

The annual fees the Federal Housing Administration charges to guarantee mortgages it backs are being cut by a quarter of a percentage point, the Department of Housing and Urban Development said in a statement on Monday. With the reduction, the annual cost for most borrowers will be 0.60 percent of the loan balance.
Posted in:General
Posted by Dawn m. Holmes on January 10th, 2017 9:43 AM
The U.S. Department of Agriculture offers programs to help low to moderate-income individuals living in small towns or rural areas achieve homeownership. The Rural Housing Service (RHS) helps qualifying applicants, who cannot receive credit from other sources, purchase modestly priced homes as their primary residence.

To find out if your property qualifies for the USDA Program, click here or give Dawn Holmes a call at 337-264-9990
Posted in:General
Posted by Dawn m. Holmes on March 24th, 2015 1:01 PM