January 29th, 2010

Friday Scoop on Credit Karma & Housing Market News

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“The Federal Housing Administration said Wednesday that it would raise down-payment requirements, boost its mortgage-insurance premiums, and tighten its loan underwriting practices in a bid to strengthen its capital reserves and remain solvent in the face of rising foreclosures and delinquencies,” reports MarketWatch.

These policy changes by the FHA address the increasing risk in the housing market, and hope to provide more security and stability for both the industry and consumers. Keep up-to-date with home and mortgage news with today’s weekly roundup, as well as some mentions of Credit Karma in the media.

Credit Karma in the News

Home & Mortagage News

This Week’s Mortgage Rates

According to Bankrate.com’s weekly national survey, 30-year fixed mortgage rate fell for the fourth consecutive week to 5.13%. 2010 is off to a good start for mortgage shoppers, as rates have fallen each week in the new year. Despite market jitters due to Obama’s proposal on the separation of trading from banking activity and the Fed potentially wrapping up mortgage bond purchases soon, mortgage rates are moving lower although economic shifts may eventually push mortgage rates high again. Mortgage survey results:


Bankrate’s recent survey results:

  • 30-year fixed: 5.13% — down from 5.15% last week (avg points: 0.49)
  • 15-year fixed: 4.54% — down from 4.56% last week (avg points: 0.43)
  • 5/1 ARM: 4.54% — down from 4.63% last week (avg points: 0.38)

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