Homebuyer Mortgage Program

Three Great CHFA Programs for First Time Home Buyers

September 17, 2010

Three Great CHFA Programs for First Time Home Buyers CHFA (the Connecticut Housing Finance Authority) has been helping first time homebuyers and low and moderate income families get affordable housing in Connecticut for over 40 years, and their mortgage rates have recently fallen below the 4% mark (currently at 3.875%, their lowest rate ever). However, [...]

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Mortgage Rate Update 2/13/09

February 15, 2009

Mortgage rates have remained flat in the low 5% range. Mortgage bonds have experienced positive pressure coming out of equities negative response to a lack of details and mechanics of the implementation of the remaining TARP funds. However, lenders are still overwhelmed with existing inquiries to refinance–resulting in few lenders to re-price their rates on [...]

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Mortgage Rate Update 1/23/09

January 24, 2009

This week’s rates rose slightly (an eighth of a point, generally; CHFA was unchanged) and this is the fourth day in a row that the rates have been trending upwards. Mortgage rates should return to lower levels, based on Federal Reserve and other government statements. Renewed bank crisis and continued equities market volatility are again [...]

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Mortgage Rate Update 12/19/08

December 20, 2008

Mortgage rates either fell slightly or remained at last week’s levels. The 30 year fixed stayed at 5.125%, but the 30 year FHA and CHFA rates lost an eighth and a quarter point, respectively. Also, the 7 year ARM lost an eighth, the first drop in an adjustable rate mortgage in some time. This is [...]

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Mortgage Rate Update 12/12/08

December 12, 2008

Mortgage rates continue to fall as the proposed auto industry bailout crashed and burned, and the Fed is now talking about a possible reduction to 4% instead of the 4.5% figure bandied about last week. Our current 30 year fixed and FHA rates fell another eighth of a point this week, while the 30 year [...]

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Mortgage Rate Update 12/5/08

December 5, 2008

Mortgage rates fell another quarter point this week (with the notable exception of CHFA & FHA rates, which remained at 5.875% and 5.5%, respectively), possible on their way down to the 4.5% figure that’s been bandied about in the financial news lately. This may or not happen, depending on who you talk to, but even [...]

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Mortgage Rate Update, 11/28/08

December 2, 2008

We hope everyone had a fantastic Thanksgiving and was able to spend some quality time with family and friends, and pig out on lots of turkey, stuffing, pie, etc etc!! OK, so much for my statement last week of, “status quo is the way to go – for now”. In one of the largest one [...]

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Mortgage Rate Update 11/21/08

November 21, 2008

Mortgage rates stayed the same this week, but there wasn’t much choice. If the Fed raises rates, economic growth will be retarded, good mortgages will be hard to find, businesses won’t be able to borrow funds needed to carry on daily operations, and a long, painful recession could rear its ugly head. On the flip [...]

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Mortgage Rate Update 11/14/08

November 15, 2008

Mortgage rates continued their downward slide this week as a result of dismal economic reports, particularly the half million jobs lost and an increase in the national deficit in October. There was a drop of an eighth of a point in almost all products, including the 30 year FHA and conforming loans. Jumbo loans and [...]

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Mortgage Rate Update 11/7/08

November 8, 2008

Mortgage rates pulled back a bit this week in the aftermath of the presidential election, but the increase in the unemployment rate and tighter lending criteria are keeping many lenders on the sidelines. The 30 year conforming rate dropped a quarter point, while the 30 year FHA and CHFA shed a nice 3/8ths. Expect more [...]

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