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Important News: FHA Reduces Mortgage Insurance on FHA loans after January 26th, 2015!

This means that anyone with an FHA loan is paying almost 60% more for mortgage insurance than they need to.  Consumers with FHA mortgages should consider refinancing with a FREE Streamline Refinance.





 

 

 

 

 

 

  

FHA Disclaimer: Cornerstone Mortgage is not acting on behalf of or at the direction of HUD/FHA or the Federal government.


Attention Homebuyers

 

 

If you are in the market to purchase a home, stop by our office at 1500 Standiford Ave., Building A for your Free Homebuyers Guide Monday-Friday 8:00 - 5:00.  This guide will give you valuable information that will help you navigate the home buying process and avoid critical mistakes. 






 


Here is the Latest Mortgage News:

































Mortgage News:
 
15-Year Appeal Jumps as Mortgage Rates Rise
7/4/2015 11:20 PM
Fixed rates on residential loans rose this past week. The increase, however, was more pronounced on longer-term loans than on 15-year mortgages -- making the shorter term more attractive.....Thirty-year fixed rates averaged 4.08 percent in the Primary Mortgage Market Survey from Freddie Mac for the week ended July 2.....Historica...Read More
 
Consumer Bankruptcy Filings Inch Up
7/4/2015 11:20 PM
The number of new bankruptcy filings made last month was up minimally on a month-over-month basis, though activity slowed from a year earlier.....Businesses and consumers made 69,723 bankruptcy filings during June. Activity crept up from the previous month, when there were 69,286 fillings.....But despite the modest deterioration, U.S. B...Read More
 
HECM Production Surges to 22-Month High
7/4/2015 11:20 PM
It"s been more than a year-and-a-half since the production of government-insured reverse mortgages was as strong as it was last month.....Home-equity conversion mortgages that were endorsed by the Federal Housing Administration during the month of June increased 24 percent from the previous month.....It turns out that last month"s activ...Read More
 
Mortgage Jobs Jump as US Unemployment Sinks
7/4/2015 11:20 PM
Estimated total monthly staffing in the mortgage industry jumped by more than 6,000 jobs. Meanwhile, employment across all sectors expanded, and the unemployment rate fell to the lowest level in more than seven years.....During June, U.S. nonfarm employment expanded by 223,000, not quite as good as the downwardly revised 254,000 jobs added a...Read More
 
Fannie Delinquency at Pre-Conservatorship Level
7/4/2015 11:20 PM
Serious residential delinquency at the Federal National Mortgage Association fell to the lowest level since before it was thrust into conservatorship. New secondary activity, however, was worse.....The Washington-based company"s new business acquisitions came in 15 percent less during May than in the previous month.....Monthly operation...Read More