John Lemos's (jplemos) Blog

 Mortgage rates are determined by the supply and demand for mortgage bonds in the bond market.Why Mortgage Bonds?When you get a mortgage in the US, your mortgage company is getting the money from Fannie Mae, Freddie Mac or other "securitizers". These "securitizers" get their money by issuing bond...

1 - Housing Supply Housing supply measures how many months it would take to sell all the houses currently listed for sale, at the current pace of home sales. For example, if there are 600 homes currently listed for sale, and an average of 100 homes are selling each month, there would be a 6-month...

 For the third time in three months, FHA-insured mortgages became more user-friendly.  On January 9, 2017, FHA lowered its annual mortgage insurance premiums by 0.25%.FHA Annual Mortgage Insurance Premiums   OLD (last year) NEW (closings after Jan. 27, 2017) 30-year fixed rate mortgage with 5% do...

FHA says premium cut will save FHA borrowers $500 a year on averageLow- to moderate-income homebuyers will get a boost in 2017, with the Federal Housing Administration (FHA) set to cut mortgage insurance premiums later this month.The move will “will mean a whole lot more responsible borrowers are...

Congratulations on your mortgage closing!  Here is a general overview of some information that may be helpful to you and your CPA as you prepare your 2016 tax returns:Points Paid on a Home Purchase in 2016Closing Disclosure Page 2, Section A - If the origination charges on Page 2, Section A of th...

  Home prices in many markets have gone up recently.  This is leaving many retirees with sticker shock when it comes to trading up, or even trading down. Consider Anna and Olaf who are in the process of selling their $400,000 home.  They’ll be left with net proceeds of approx. $364,000 after payi...