Archive for the 'Housing' Category
Home Building Edged Up in Nov.
December 17th, 2010
Written by Frost Mortgage
Housing starts increased 3.9 percent last month from October, reports the Commerce Department. Despite the gain, activity remains 45 percent below the threshold — 1 million units annually — that is considered healthy; and permits, which gauge future demand, slid 4 percent to the lowest level since April 2009. In November, builders broke ground on 555,000 units, fueled by a 6.9 percent jump in construction of single-family homes; multifamily projects, conversely, declined 9.1 percent.
Boston Globe (12/17/10)
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FHA: A range of creative options for borrowers
June 30th, 2010
Written by Frost Mortgage
The Federal Housing Administration (FHA) helps prospective borrowers in a wide range of ways. Frost Mortgage is a huge fan of the FHA program; in 2009, for instance, we were named No. 2 in America for FHA fundings by Mortgage Originator Magazine, and we’ve consistently been the top FHA lender in our home state of New Mexico.
CreditLoan.com has a great article on some of FHA’s main programs, including loans for
- First homes,
- Fixer-uppers,
- Reverse mortgages,
- Energy efficiency, and
- Manufactured or mobile housing.
We can help you with any of these needs–we’re FHA experts. Please call one of our experienced loan officers today for more information on how FHA programs can help you fund your next move.
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More light at the end of the tunnel
June 16th, 2010
Written by Frost Mortgage
It has been a long, hard slog, but we’re seeing increased confidence that the worst may be over. This week, for instance, Reuters reported, “A strong global economic recovery is under way, and is unlikely to be thrown off course by European debt woes or the improbable event of the bursting of an asset bubble in China, a top Federal Reserve official said on Monday.” That followed earlier remarks from Federal Reserve Chairman Ben Bernanke, who said European debt would probably only impact the U.S. economy in a “modest” way.
Another report this week found that “U.S. home prices were trending up in 155 out of 384 metro areas” thanks to “optimism that a sustainable economic recovery is underway.” And as our President, Greg Frost Sr., noted recently, “Over time, home prices across all states have risen at average annual appreciation rates ranging from the high 3’s to over 7.5%.”
We never recommend trying to “time the market.” It’s just too unpredictable for that. Instead, we have to look at sound financial practices with a long-term view in mind. We’re glad to see signs that the national mood is returning to normal.
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