According to CoreLogic nationwide home prices rose by 5% from December 2013 to December of 2014. While clearly we are nowhere close to the double digit gains of the previous years it was still a positive report. But a big reduction in the FHA mortgage insurance premium and Fannie and Freddie’s 3% down payment programs should give an additional boost to home buying activity. Meanwhile conforming no point 30 year fixed mortgage rates average 3 5/8ths with 15 year rates closer to 2 7/8ths. And now for something completely different… You may find it very interesting to know that Dr. Suess wrote “Green Eggs and Ham” to win a bet against his publishers who thought that he could not complete a book with only 50 words!
For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942. This is Mehran Aram with today's ARAMCO Report.